Bloodbath in Adani Group stocks leave Rs 19,000-crore scar on LIC’s book

An over 21% fall in Adani Ports shares in the last two trading days of the week gone by resulted in over Rs 3,000 crore of losses for LIC. In Adani Enterprises, the flagship company of the group, LIC incurred a loss of close to Rs 3,300 crore due to a 20% fall in the share price on Wednesday and Friday. Besides these two companies, the country’s largest life insurer holds significant stake in Adani Total Gas, ACC and Ambuja Cements.