LIC-Held Stock Below Rs 30 Hits Upper Circuit: Here’s Why! LIC-Held Stock Below Rs 30 Hits Upper Circuit: Here’s Why! Life Insurance Corporation of India (LIC) holds a 6.11 per cent stake Karan Dsij / Tuesday, October 8, 2024 / Article rating: 4.2 The reason for the stock being locked at the upper circuit is the company’s announcement of sourcing and distributing its own private label apparel products under the e-commerce business category.