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Shares of Life Insurance Corporation of India (LIC) on Monday Plunged below their IPO price and registering a 22% decline from their peak. This decline comes amidst growing concerns over the company's financial health and future prospects. The recent plunge in LIC's stock can be attributed to several factors, chief among them being the announcement of a substantial wage hike for its vast workforce of 1.10 lakh employees. The proposed 17% increase in wages is expected to have a considerable impact on LIC's finances, with an estimated annual implication exceeding Rs 4,000 crore. This surge...