E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Apple AirPods Pro 2 likely to come with USB Type-C charging case

July 4, 2022

Fighting All That Can Go Wrong With Resin

July 4, 2022

NFT, BTC Scams Featured on British Army’s Compromised Twitter, YouTube Accounts

July 4, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Business»Government concerned about dip in LIC share price; calls it temporary blip
Business

Government concerned about dip in LIC share price; calls it temporary blip

Paul EasterBy Paul EasterJune 10, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email


The government on Friday said it is “concerned” about the temporary blip in LIC scrip and the insurer’s management will look into these aspects and raise shareholders’ value.

Life Insurance Corporation (LIC) was listed on the bourses on May 17 at Rs 872 a share. The government had fixed the issue price of LIC shares at Rs 949 apiece after a successful Initial Public Offering (IPO) which was over-subscribed nearly 3 times.

Since the day of listing, LIC shares have remained below the issue price and had touched a low of Rs 708.70 and a high of Rs 920.

“We are very concerned about the temporary blip in LIC share price. People will take time to understand (fundamentals of) LIC. LIC management will look into all these aspects and will raise the shareholders’ value,” DIPAM secretary Tuhin Kanta Pandey said.

See Zee Business Live TV Streaming Below:

Shares of LIC closed at Rs 709.70 on the BSE on Friday.

Explaining the upside potential in LIC scrip, an official said that the Embedded Value (EV) at the end of March will give a better picture of the insurer.

“LIC would update its EV by June-end,” the official said.

As per the draft papers filed with Sebi, LIC’s EV was over Rs 5.39 lakh crore at the end of September 2021.

“The market has not got March EV hence it is conjecturing. Rate of future growth of insurance companies can only be assessed via EV. The increased EV at the end of March will give a forward looking view to the market as it will also include the number of new customers,” the official added.

The government had garnered about Rs 20,500 crore through sale of 3.5 per cent stake in LIC via IPO last month.





Source link

Paul Easter

Related Posts

Apple AirPods Pro 2 likely to come with USB Type-C charging case

By Paul EasterJuly 4, 2022

Akasa Air showcases crew uniform; conducts proving flight test

By Paul EasterJuly 4, 2022

Air India alerts people about hoax communication; link offering Rs 6000, fake, says company

By Paul EasterJuly 4, 2022

Will recession hit Indian shores in six months? Zee Business Managing Editor Anil Singhvi decodes

By Paul EasterJuly 4, 2022
Add A Comment

Comments are closed.

Our Picks

Apple AirPods Pro 2 likely to come with USB Type-C charging case

By Paul EasterJuly 4, 2022

Fighting All That Can Go Wrong With Resin

By Paul EasterJuly 4, 2022

NFT, BTC Scams Featured on British Army’s Compromised Twitter, YouTube Accounts

By Paul EasterJuly 4, 2022
Recent Posts
  • Apple AirPods Pro 2 likely to come with USB Type-C charging case July 4, 2022
  • Fighting All That Can Go Wrong With Resin July 4, 2022
  • NFT, BTC Scams Featured on British Army’s Compromised Twitter, YouTube Accounts July 4, 2022
  • Akasa Air showcases crew uniform; conducts proving flight test July 4, 2022
  • Air India alerts people about hoax communication; link offering Rs 6000, fake, says company July 4, 2022
  • Will recession hit Indian shores in six months? Zee Business Managing Editor Anil Singhvi decodes July 4, 2022
  • Ethereum Name Service Sells for Second-Highest Price Ever of 300 ETH July 4, 2022
Archives
  • July 2022
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.