The huge fall in the shares of Adani Group companies drowned thousands of crores of rupees of LIC.
Big loss of 18000 crores to LIC!
The country's largest institutional investor Life Insurance Corporation of India (LIC) has suffered a major setback.
The fall in Adani Group's shares due to the Hindenburg report drowned LIC's 18000 crores in just two trading sessions.
LIC's combined investment in Adani Group shares fell to Rs 62,621 crore from Rs 81,268 crore as on January 24, 2023.
In just two trading sessions, LIC has lost Rs 18,647 crore from the shares of Adani Group companies.
As per the available data, LIC has more than one percent stake in Adani Enterprises, Adani Green Energy, and Adani Ports.
LIC also holds more than one percent stake in Adani Total Gas, Adani Transmission and Ambuja Cements, and ACC.
* LIC's loss in Adani Total Gas: Rs 6,237 crore * LIC's loss in Adani Enterprises: Rs 3,279 crore
* LIC's loss in Adani Ports: Rs 3,205 crore * LIC's loss in Adani Transmission: Rs 3,036 crore
* LIC's loss in Ambuja Cements: Rs 1,474 crore * LIC's loss in Adani Green Energy: Rs 871 crore * LIC's loss in ACC: Rs 544 crore
The market capitalization of 10 listed companies of Adani Group decreased by about Rs 4 lakh crore on 27 January.
SEBI action on Adani Group