LIC fell about 8.7% today, one of the session's biggest large-cap moves.
The trigger: the government (LIC's promoter) opened an offer-for-sale to trim up to 6.5% of the company — a 2% base plus a 4.5% greenshoe — at a floor price of Rs 382, with bidding running Aug 4-5. A large stake sale priced near the market is what pressured the stock down toward that floor.
→ Why it moved: https://marketchacha.com/movers