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Market value of LIC investment in Adani Group stocks hit Rs 44,670 cr
Market value of investments made by state-owned Life Insurance Corporation of India (LIC) in seven companies of the Adani group has swelled to Rs 44,670 crore as stock prices rose from the lows seen in the aftermath of the Hindenburg report.
The country's largest insurer and leading institutional investor in the Adani group has seen the market value of its holdings in Adani stocks increase by around Rs 5,500 crore since April, stock exchange data showed.
LIC's biggest bet is Adani Ports & SEZ Ltd where it holds 9.12 per cent shares. At Wednesday's closing price of Rs 717.95 on the BSE, that holding is worth Rs 14,145 crore.
Its 4.25 per cent stake the group's flagship Adani Enterprises Ltd is worth Rs 12,017 crore at Wednesday's closing price of Rs 2,476.90.
LIC holds stocks worth about Rs 10,500 crore in city gas distribution firm Adani Total Gas Ltd and Ambuja Cement. Other Adani group firms where LIC holds stakes are Adani Transmission Ltd, Adani Green Energy Ltd and ACC.
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