LIC: LIC ranks second among loss-making companies in Asia this year, shares fell 29 percent, market cap decreased by 1.78 lakh crore

Posted on 14th Jun 2022 by rohit kumar

Life Insurance Corporation of India (LIC), which has brought the country's biggest IPO, has been second in terms of loss in shares listed in Asia this year. Its stock lost 29 percent, while South Korea's LG Energy lost 30 percent.

 

LIC's IPO came at Rs 949 and the stock was listed on May 17, which closed at Rs 668 on Monday. Its market capitalization at the issue price was more than Rs 6 lakh crore, but now it has come down to Rs 4.22 lakh crore. That is, there has been a decrease of Rs 1.78 lakh crore. Its shares have been beating continuously for the last 10 days. In comparison, the BSE has lost only 9 percent since January.

 

LIC's market value is 4.22 lakh crores

 

Paytm, Zomato, and Nykaa sink 2.36 lakh crores

 

Paytm loses Rs 1.02 lakh crore

 

The stock of Paytm has also given a huge loss to the investors. Its IPO came in November at Rs 2,150 and had a market capitalization of Rs 1.39 lakh crore. On Monday, the stock closed at Rs 583, which is down about 72 percent. The market cap is Rs 37,828 crore. The stock had lost 27 percent on the listing itself.

 

Zomato shares fell 60 percent

 

In November, Zomato was trading at Rs 169. Its share has now reached below the issue price at Rs 67. That is, a loss of 60 percent is given to the investors. The market capitalization has come down from Rs 1.39 lakh crore to Rs 53,068 crore.

 

40 percent loss in Nykaa

 

The stock of Nykaa, which was at Rs 2,574 in November, has now fallen 40 percent to Rs 1,458. The market capitalization at that time was Rs 1.19 lakh crore, which has now come down to Rs 69,153 crore. That is, there has been a decrease of about 49 thousand crores.

 

Big 16-month drop in the crypto market

 

The cryptocurrency market fell by one trillion dollars on Monday. This is the biggest drop in 16 months since January 2021. The valuation of the crypto market declined to $926 billion, which increased to a high of $29 trillion in November 2021.

 

Bitcoin is down 10 percent to $23,750, its 18-month low.

 

Also Read: NCDRC: IRDA to investigate the role of a life insurance agents, Consumer Disputes Redressal Commission directed the insurance regulator

Other news