LIC shares fall 9% on $3.3 billion stake sale

LIC shares fall 9% on $3.3 billion stake sale. The Indian government has launched an offer for sale of up to $3.3 billion worth of LIC shares, leading to sharp investor selling. The state-owned insurer's stock hit a new low, reflecting strong supply-side pressure. This is one of the largest disinvestment moves by the Centre this fiscal.
📊 STOCKS: $LICI | 🏢 SECTOR: CapitalMarkets | #HIGHIMPACT #StakeSale