LIC incurred over ₹11,468 crore loss after ITC shares witnessed sharp decline of over 14% in two days, reported Moneycontrol. LIC's stake is now worth ₹68,560 crore at a record low level, down from ₹80,028 crore on December 31. LIC held 15.86% stake in ITC, which recently lost ₹72,000 crore in market cap after government's proposed excise duty on cigarettes.