Stock MarketTop News

Investors Lose ₹42,500 Crore Within Minutes Of LIC Listing At 9% Discount

Mumbai: Investors lost over ₹42,500 crores in minutes on Tuesday after LIC’s market capitalisation slipped to ₹5.57 lakh crore in early trade against over ₹6 lakh crore at the issue price.

The stock was listed at ₹867 on the BSE, which is an 8.64% discount from its IPO price of ₹949. On NSE, it debuted at a discount of 8.11%.

is finally listed on the exchanges and is currently trading 5 per cent below its issue price of Rs. 949 per share. However, retail and LIC policyholders have got a discount of Rs. 45 and Rs. 60 and are marginal in the money for the issue price respectively

Yash Gupta – Equity Research Analyst, Angel One Ltd said, At current prices, LIC is trading at a P/EV (embedded value) of 1.08x which is at a significant discount to other listed private life insurance companies like HDFC Life, ICICI Pru Life, and SBI Life. As expected given the adverse market conditions listing has been muted for LIC.

However, cheap valuations as compared to other listed players offer comfort, and investors with a longer time horizon can hold on to their positions while retail traders with a short-term view can exit their positions in case there is any upside movement over the next few days, he added

Follow us on Twitter, and Instagram, and like us on Facebook for the latest updates and exciting stories.

Show More
Back to top button