NEW DELHI: LIC’s investment value in Adani Group Stocks has almost halved in six trading sessions.
The state-owned insurer’s investment value in Adani Group entities stood at about Rs 43,000 crore at Thursday’s close as against value of over Rs 81,000 crore on January 24 when Hindenburg Research published its scathing report.
LIC’s gain from appreciation in Adani stock value has come down from Rs 51,000 crore to Rs 13,000 during this period. LIC purchase value of equity, bought over the last many years, under all the Adani Group companies is Rs 30,127 crore. The insurance behemoth had last week said its total exposure in the Group companies is 0.975% of its total assets under management (AUM) at book value.
LIC owns between 1.28% and 9.14% shares in as many as seven listed Adani companies. In Adani Ports, in which LIC owns over 9% stake, the value of its investment has come down from Rs 15,000 crore as of January 24 to Rs 9,000 crore now. Similarly, the value of its 4.23% stake in Adani Enterprises has come down from Rs 16,500 crore to Rs 7,500 crore during the last six trading sessions.
LIC owns a little less than 6% stake in Adani Total Gas. Since this Adani stock has nose-dived about 60% in last six sessions, LIC’s investment value here has reduced from Rs 25,500 crore as of January 24 to Rs 11,000 crore now. The insurer owns a 3.65% stake in Adani Transmission and 1.28% in Adani Green. It has lost about Rs 5,000 crore in the former in six sessions and while its loss in the latter now stands at about Rs 1,780 crore.
Its loss in Ambuja and ACC has not been very severe. While questions, especially from opposition political parties, have been raised on LIC’s exposure to Adani Group, with many asking as to why the insurer invested so heavily in these firms, LIC recently said total exposure in Adani Group companies is 0.975% of its total assets under management (AUM).
LIC investment value falls from G81K cr to 43K cr
LIC’s investment value in Adani firms stood at Rs 43,000 cr at Thursday’s close as against value of Rs 81,000 cr on Jan 24 when Hindenburg published its report