LIC Share Price: Bad days of investors are not passing, 43% broken share from high, made new all time low

LIC Share Price: Investors who have invested money in the shares of Life Insurance Corporation of India (LIC Share) are getting bad news every day. LIC stock has lost 43% of his money so far. On Monday, this stock hit its all-time low and went down by about 43 per cent from its IPO price. Today LIC’s stock started trading with a boom, but at 10 o’clock it went into the red mark and started trading at Rs 538 (LIC Share Price Today), falling 0.87 per cent from yesterday’s closing price. The stock had closed at Rs 544.10 on Monday as well. This was the lowest closing price level of LIC since listing.

LIC’s share was received by retail investors for Rs 949. But, it has been going down continuously since the listing. LIC share has so far lost 43 percent from its IPO price. LIC’s stock has broken sharply since the Hindenburg Research report came out. Hindenburg’s report was released on 24 January 2023, on that day LIC’s share was trading at Rs.702. From that level, LIC share has now gone down by around 23 per cent.

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there was a fall yesterday
On Monday also, LIC’s stock hit its all-time low. On Monday, LIC’s stock opened at Rs 560 and fell by nearly 4 per cent to Rs 539.10 once a day. The stock closed at Rs 544.10 in the evening. LIC’s stock has fallen 6.48 per cent in five trading sessions. This stock has fallen by about 7 percent in 1 month. In the last 6 months, this stock has fallen by 13 percent, so in the year 2023, LIC stock has fallen by 24.09 percent.

Big loss to investors
Investors who put money in LIC’s IPO are facing huge losses. LIC raised money in the IPO at a price of Rs 949 per share. Today this share has become Rs 539.90. That is, investors are facing a loss of Rs 409 per share. If an investor had invested Rs 1 lakh in LIC’s IPO, then today his investment is only Rs 56,891. Means his 43,109 rupees have sunk.

What should investors do?
According to a Moneycontrol report, domestic brokerage firm ICICI Securities says that Rs 610.80, Rs 619.80 and Rs 635 levels are acting as resistance for LIC shares. At the same time, this insurance stock seems to be getting support at the level of Rs 586.50, then Rs 571.20 and Rs 562.10. Yes Securities had also given a Buy rating to this stock in the beginning of March and fixed its target price at Rs 770.

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Tags: business news in hindi, IPO, Life Insurance Corporation of India (LIC), stock market