LIC slips for 8th straight day on muted growth, down 24% from issue price

LIC's inability to move up in the customer segment by significantly changing its product and distribution mix means that the insurer will continue to lose market share.

Shares of Life Insurance Corporation of India (LIC) continue to reel under pressure and hit a new low to end at Rs 721.95, down 2.17  per cent,  on the BSE in Thursday’s trade after the insurance behemoth reported a muted growth in the month of May.

The stock of state-owned insurer quoted lower for the eight straight trading day, and has declined 14 per cent during the period. 

The stock now trades at the lowest level since its debut on May 17, 2022.

With the recent decline, the stock now quotes at a significant 24 per cent discount when compared with