As New India Assurance IPO (Govt) is coming &is to be subscribed n hit ,GIC re has to move up ,otherwise that upcoming ipo will be a big flip ......it will definitely turn around situation ... my suggestion to hold tightly till New india insurance lists....
Disc : holding 348 shares , target to sell at 930 in next 7 days.
Now govt has woken up and started protecting gic script which is inching to 850 Govt greed ka natija ... izzat ka falooda of BJP govt . are people fools ? govt is biggest seller and it decided to list at 912 instead of low price based on LIC subscription.. aggressive behavior like this to cheat panicky small investor will make it loose votes ...most poor small investors may have sold at 800.will they vote bjp or will they give gaalis to modis pet fm who is a failure ? Last time UTI64 was a big reason for BJP to loose middle class vote in elections and this behavior + over taxation of salaried class will lead to a repeat... Cut in fd rates is already making them suffer as inflation is still there and cost of food articles are high..
One of these days LIC POLICYHOLDERS should file PIL against govt and management else it will go the UTI64 WAY !!
Hedging Formula also may apply in this situation .. you can minimize ur loss... now hope for the best,,, today is black day for Grey Market,, capacite, apex and all the recent ipo not performing well... Gic will be close by the 850....GOV lure the investor.. surely this will effect the National insurance IPO....