There has been a decrease in the total loan given by LIC to Adani Group. Image Credit source: TV9 Network
There has been a tremendous increase in the value of investments made in seven companies of Adani Group of the country’s largest insurance company LIC. The investment value of LIC has increased to Rs 44,670 crore at present. In fact, due to the continuous increase in the shares of group companies, there has been a rise in the investment value of LIC. According to stock market data, the investment value of LIC in Adani Group companies has increased by about Rs 5,500 crore since April. In the month of February, this value had come down below Rs 30 thousand crore with loss.
Which stock of Adani benefited
LIC has the largest stake of 9.12 per cent in Adani Ports and SEZ Limited. The company’s share was Rs 717.95 on Wednesday. After which the value of LIC in the company reached Rs 14,145 crore. LIC holds 4.25 per cent stake in Adani Enterprises. On Wednesday, the company’s stock reached Rs 2,476.90 and the investment value increased to Rs 12,017 crore. LI has an investment of Rs 10,500 crore in Adani Total Gas and Ambuja Cement. At the same time, LIC also has investments in Adani Transmission, Adani Green Energy and ACC.
LIC was affected
After the arrival of Hindenburg Research’s report, there was a huge decline in the shares of Adani Group companies. Because of which the joint market cap of the group companies fell by $145 billion. Whose effect was also visible on LIC investment. LIC had said on January 30 that it had invested Rs 30,127 crore in Adani Group companies, and on January 27 its value had reached Rs 56,142 crore. Due to the fall in the shares of Adani Group, the investment value of LIC had come down to Rs 27,000 crore in February 2023.