Business•Economic Times•May 27
LIC shares drop 4% on Rs 10,000 crore govt stake sale buzz
Shares of Life Insurance Corporation of India (LIC) dropped as much as 4% to an intraday low of Rs 810 on the BSE on Wednesday after a report said the government could begin formal marketing next month for a proposed stake sale that may raise up to Rs 10,000 crore ($1 billion). LIC reported a consolidated net profit of Rs 23,467 crore for Q4 of FY26, marking a 23% year-on-year (YoY) rise from the Rs 19,039 crore profit reported in the corresponding quarter of the previous financial year.
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