oppn parties LIC Shares Tumble On Listing Even As The Sensex Gains

News Snippets

  • SP drops two candidates owing allegiance to Azam Khan from Rampur and Moradabad
  • In Assam, a controversy erupted after a picture of UPPL leader Benjamin Basumatary, lying on a stack of Rs 500 notes circulated on social media. UPPL is an ally of the BJP
  • AAP's Jalandhar-West MP Sushil Kumar Rinku joins the BJP. He was the only AAP Lok Sabha MP
  • Supreme Court dismisses Centre's plea to review its 2023 verdict in the PMLA case
  • Close save for passengers as they remain unhurt after the wings of two planes graze at Kolkata airport. Pilots derostered and inquiry ordered by DGCA
  • Bengal BJP leader Dilip Ghosh gets notice from the EC as well as the BJP for making ugly remarks about Mamata Banerjee's parentage
  • Sadanand Vasanth Date, who faught terrorists in the 26/11 attack and was awarded the Preisent's Police medal, has been appointed the head of the NIA
  • Centre will borrow Rs 7.5L cr in the first six months of FY25, nearly 50% of the target for the full year
  • 25 stocks, including SBI, will see same day trade settlements from today in the world's fastest settlement mode in both BSE and NSE
  • Stocks recover smartly on Wednesday: Sensex rises 526 points to 72996 and Nifty 118 points to 22123
  • Tennis: Rohan Bopanna-Matthew Ebden reached the semifinals of the Miami Open
  • IPL: records tumble as SRH beat MI in a high-scoring match. SRH score 277/3 with 18 sixes and Mumbai score 246 with 20 sixes to fall short by 31 runs. Atotal of 38 sixes, highest in an IPL match were hit and both teams combined to score 523 runs, the highest aggregate in an IPL match
  • Amul will launch fresh milk in the US
  • IPL: RCB beat Punjab by 4 wickets as Kohli and Karthik shine with the bat
  • India strongly objected to German foreign office remarks over the arrest of delhi CM Arvind Kejriwal, called it "biased assumptions"
Delhi Lt Governor Vinai Kumar Saxena says government cannot be run from jail, hints at President's Rule in the capital ////// In a dangerous incident, the wings of two planes grazed while taxiing on the runway at Kolkata airport, all passengers were safe but DGCA ordered an inquiry and the pilots were derostered
oppn parties
LIC Shares Tumble On Listing Even As The Sensex Gains

By admin
First publised on 2022-05-17 06:56:12

About the Author

Sunil Garodia By our team of in-house writers.

Confirming the grey market sentiments, LIC share listed at a discount of over 8% today. It touched a low of Rs 860 in early trades, a discount of 9.37% on the general issue price of Rs 949 while the highest it climbed was Rs 918.65, still a discount of over 3%. But at its highest price in intraday trades, it got a premium of 1.6% for retail investors who had got the shares at a discount of Rs 45 and 3.3% for policy holders who had got a discount of Rs 60 per share. Till 12 noon, 3.60cr shares had changed hands and there were multiple block deals at Rs 872 per share.

But the overall sentiment for the stock was negative. Market operators and experts said that the size of the issue and the lack of interest from FIIs, along with the overall negative sentiment in the market (although the markets were positive today with the Sensex gaining 1000 points at one point) had resulted in such a lacklustre listing. With most shares in the green, LIC was an exception and this was mainly because those who had applied for listing gains were in a hurry to offload their shares.

Most experts have pointed out with insurance penetration low in India, the prospects for LIC are bright and those who can should hold on to the shares. They have set stop loss at Rs 800 per share. Some have also pointed out that LIC is expected to declare good dividend this year as it paid no dividend last year. Overall, despite its horrible listing price, it is a share that one can hold.