LIC Share Price: 1.51 lakh crore lost to LIC investors, government says ...

Shares of LIC touched all-time low of ₹708.05, wiping out over ₹1.51 lakh crore in investors' wealth since listing. Pandey said that the ...

LIC Share Price: The share price of Life Insurance Corporation of India (LIC), the largest insurance company in the country, has been steadily declining.

LIC's IPO was well received by policyholders, LIC employees and retail investors. However, LIC's stock does not seem to be getting much response in the stock market. LIC's share price has been steadily declining since it was listed on the stock exchange. Investors have lost Rs 1.51 lakh crore so far.

LIC share price falling LIC's share price continues to decline. Shares of LIC touched a low of Rs 708.05 on Friday. The stock had closed at Rs 709.40 at the close. Following the fall, LIC's market capitalization stood at Rs 4.48 lakh crore.

Don't worry The fall in LIC's share price has raised concerns among investors. Against this backdrop, central government officials have made important statements. According to PTI, on Friday, DIPAM secretary Tuhinkant Pandey said that the fall in LIC's share price was temporary.

The government is also concerned. He said it would take time for people to understand the fundamentals of LIC. He said the management of LIC would look into all aspects and benefit the shareholders. The embedded value of LIC at the end of March showed the true value of the share price. The company will update its embedded value by the end of June, he said.

Bubble bar of profits LIC, meanwhile, was trading at Rs 949 per share. However, the stock was listed at a discount of about 9 per cent. After that the share price has started falling.

LIC was expected to receive dividends from the board of directors to benefit investors. However, in a meeting last month, the board of directors recommended a dividend of Rs 1.5 per share.