Mumbai/IBNS, June 4 -- Shares of Life Insurance Corporation of India (LIC) declined on Thursday after market regulator SEBI initiated action against Rajesh Exports and its promoter-chairman Rajesh Mehta over alleged financial irregularities, media reports said.

LIC's Stake Comes Under Focus The decline in LIC's share price followed heightened scrutiny of its 10.8 percent stake in Rajesh Exports after SEBI's regulatory action against the company. Market participants closely tracked the development amid concerns over the potential impact of the investigation on institutional investors holding shares in the jewellery exporter.

Published by HT Digital Content Services with permission from India Blooms....