LIC share price Latest News:
Not only LIC, More than half of the PSU shares are below their IPO price!
Stock Market data shows that half of the 22 PSU IPOs since 2010 are trading below their issue price.
After 2010, the central government had raised a total of Rs 77,000 crore through IPOs of these 22 companies.
Only seven PSU stocks listed after 2010 are currently trading at more than double their issue price.
The IPOs of Ircon International Limited and General Insurance Corporation of India are trading well below their issue prices.
LIC was the much-awaited IPO for the market this year, despite the global turmoil, the government managed to raise Rs 20,560 crore from the LIC IPO.
LIC IPO price at the time of listing was over Rs 949 per share, and post listing, the stock saw a huge drop.
On Thursday, the stock closed down Rs 4.70 at 805.85 on the BSE. It has now lost more than 15 per cent from its IPO price of Rs 949.
Brokerage firm Emkay Global has given a 'Hold' rating to the LIC share and has set a target price of Rs 875.
Share market experts believe that LIC's stock will not be able to go above its IPO price for some time to come.
Top 5 Stock in Modi Govt.