LIC shares have fallen 10% in the last 5 sessions as a 17% pay increase will cost Rs 29,000 crore.

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LIC Shares in Red

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LIC's Wage Revision Impact

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Fiscal Year Implications

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Employee Benefits

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Market Performance

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LIC shares have fallen 10% in the last 5 sessions as a 17% pay increase will cost Rs 29,000 crore.

LIC Shares in Red

LIC shares are down 2.26% due to the wage hike's implications. As of March 19, 2024, they are trading around Rs 884.00 on NSE.

LIC's Wage Revision Impact

Wage hike of 17% to increase annual wage bill by Rs 4,000 crore.

Fiscal Year Implications

FY24 wage bill to rise to Rs 32,000 crore, including arrears of Rs 7,000 crore.

NPS contribution raised to 14% for 24,000 employees; ex-gratia payment to pensioners.

Employee Benefits

LIC shares were down 10% in 5 sessions; settlement was lower by 3.5% on March 15.

Market Performance