LIC share price hits new 1-year low, down over 32% from record high
Shares of Life Insurance Corporation (LIC), India’s largest life insurer, touched a new 52-week low of ₹806 apiece on Tuesday, January 14, breaking below its previous low of ₹820 apiece. However, the stock managed to close the session 2% higher at ₹825.
The stock has been on a downward spiral since August, ending four of the following five months in the red and losing nearly 30% of its value. From its all-time high of ₹1,221, the stock is currently down 32.5%.
Regulatory hurdles weigh on growth prospects
The life insurer posted a 13% drop in individual Annualized Premium Equivalent (APE) for December 2024. This followed a 12.4% contraction in November YoY. After strong pre-sales in September, this marked the third consecutive…
