LIC Investment in Adani Stocks: LIC, the country’s largest government insurance company, has benefited greatly from the rise in Adani Group’s stocks after the report of the Supreme Court committee came to the fore. The value of LIC’s investment in Adani Group saw a jump of Rs 6200 crore and on May 23, 2023, it has crossed Rs 45,480 crore.
After the Hindenburg Research report against Adani Group came out on January 24, 2023, LIC was suffering huge losses on its investment in Adani Group’s stocks since the month of February, after a big fall in Adani Group’s stocks. But due to the investment of GQG Partners in the month of March and now due to the report of the Supreme Court Committee, due to the rise in the shares of the group, LIC is getting huge profits on its investment.
LIC had said at the end of January 2023 that the insurance company has invested a total of Rs 30,127 crore in Adani group companies. The value of LIC’s investment had come down to Rs 32,000 crore. Whereas before the arrival of Hindenburg’s report, the value of LIC’s investment in Adani Group’s shares used to be Rs 82000 crore. However, the holding value of LIC is still Rs 37,000 crore less than these levels.
The report of the Supreme Court committee came out on 19 May. And since that day all the stocks of Adani group have seen tremendous growth. The group’s market cap increased by close to Rs 2 lakh crore in three trading sessions.
According to BSE data, LIC holds 4.23 per cent stake in Adani Enterprises, 3.65 per cent in Adani Transmission, 5.96 per cent in Adani Total Gas and 1.28 per cent in Adani Green Energy. LIC also has exposure in cement companies of Adani group. SIC holds 6.33 per cent stake in Ambija Cement and 6.41 per cent in ACC. LIC holds 9.14 per cent stake in Adani Ports.
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