Cong slams govt over fall in LIC's market capitalisation
New Delhi, May 17 (PTI) As the Life Insurance Corporation (LIC) marked one year since listing its shares on the stock exchanges, the Congress on Wednesday attacked the Modi government over the firm's market capitalisation reportedly taking a fall of about 35 per cent.
The country's largest insurer LIC had this day last year listed its shares on the NSE and the BSE.
In a tweet, Congress general secretary Jairam Ramesh said, "Exactly a year ago today, LIC was listed in the stock market. Its market capitalisation then stood at Rs 5.48 lakh crore. Today, this is down to Rs 3.59 lakh crore—a fall of a whopping 35%!" "There is only one reason for this steep fall—Modani. In the process, lakhs and lakhs of policyholders have taken a serious hit," Ramesh said and tagged a screenshot of a media report which claimed that LIC share has wiped out Rs 1.9 lakh crore since listing.