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A year after listing, LIC scorecard lacks lustre; new biz premium down 50%

Shares of the insurance behemoth are down 40 per cent over their issue price of Rs 949 to Rs 567 apiece

Photo: Bloomberg
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Photo: Bloomberg

Samie Modak

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 State-owned Life Insurance Corporation of India (LIC), which completes one year of its listing on Tuesday, presents a sorry scorecard as far as its stock market performance goes.
 
Shares of the insurance behemoth are down 40 per cent over their issue price of Rs 949 to Rs 567 apiece. The Sensex, on the other hand, has risen 14 per cent in the past one year. The stock price fall has led to a market cap erosion of LIC by Rs 2.4 trillion.
 
At the IPO price, LIC was valued at Rs 6 trillion, while its current market value

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First Published: May 16 2023 | 10:18 PM IST

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