New Delhi, Jun 13 (PTI) Shares of Life Insurance Corporation of India (LIC) continued to fall for the tenth day running on Monday and tumbled nearly 6 percent.
The stock tanked 5.85 percent to settle at Rs 668.20 apiece on the BSE. During the day, it plunged 6 percent to Rs 666.90.
On the NSE, it tumbled 5.66 percent to end at Rs 669.50 apiece.
Shares of the company have been falling for the past ten days, losing 20.17 percent.
LIC got listed on the bourses on May 17. The government had fixed the issue price of LIC shares at Rs 949 apiece after a successful Initial Public Offering (IPO) which was oversubscribed nearly 3 times.
Applicants were allocated LIC shares on May 12.
The stock has tumbled 29.58 percent so far from its issue price of Rs 949.
"LIC tumbles as anchor lock-in ends," said Mohit Nigam, Head - PMS at Hem Securities.
The company is in seventh place in the ranking of top-10 firms by market valuation. It has a market capitalisation (mcap) of Rs 4,22,636.35 crore.
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