A decline is being seen in the shares of the insurance company on Thursday.
The GST department has sent a tax demand notice of Rs 65 crore to the country’s largest government insurance company, Life Insurance Corporation of India (LIC). Giving information about this notice, LIC said that the tax officials of the department have sent a tax demand notice of about Rs 65 crore for short payment of GST. LIC said on Wednesday that apart from this, there is also a fine and interest of Rs 6.5 crore on the company.
LIC informed stock market exchanges BSE and NSE
LIC said in a communication to stock market exchanges BSE and NSE that it has received communication/demand order for GST, interest and penalty for Jharkhand on October 30. It said that this does not have any material impact on the financial position, operations or other activities of the company.
A decline is being seen in the shares of the insurance company on Thursday.
Let us tell you that till 11.12 am on Thursday, SIC shares were trading at Rs 929.90, down by Rs 5.05 (0.54%). The shares of the insurance company, which closed at Rs 934.95 on Wednesday, opened with a decline today at Rs 931.55. Till the time of writing the news, LIC shares had reached intraday low of Rs 927.45 to intraday high of Rs 939.80.
Shares of the company are trading much below 52 week high
SIC shares are trading well below their 52 week high. The 52 week high of the shares of the government insurance company is Rs 1221.50 and 52 week low is Rs 598.50. According to BSE data, the current market cap of LIC is Rs 5,87,908.54 crore. According to BSE data, LIC shares have been declining for the last 6 months.
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