The market value of the investment made by the government insurance company Life Insurance Corporation of India in seven companies of Adani Group has increased to Rs 44670 crore. Adani’s stock prices have gained after losses post Hindenburg report.
The market value of investment made by LIC in seven companies of Adani Group has increased to Rs 44,670 crore. Stock exchange data shows that the country’s largest insurer’s holding in Adani shares has gained about Rs 5,500 crore in value since April 1.
LIC has the largest stake in Adani Ports
LIC has the highest stake of 9.12 percent in Adani Ports and SEZ Limited. The company’s stock closed at Rs 717.95 on BSE on Wednesday with a market value of Rs 14,415 crore. LIC’s stake in Adani Enterprises is 4.25 per cent and its market value is Rs 12,017 crore.
LIC also holds shares in city gas distribution firm Adani Total Gas Ltd and Ambuja Cement worth about Rs 10,500 crore. Other group companies in which LIC has stake are Adani Transmission Limited, Adani Green Energy Limited and ACC.
m-Cap continues to grow
On January 30, LIC had said that the total purchase price of its stake in all Adani group companies was Rs 30,127 crore and the market value of that stake as on January 27, 2023 was Rs 56,142 crore. However, the market value of LIC’s investment declined to Rs 27,000 crore on 23 February when Adani Group shares fell after the Hindenburg report.
The recent rally in Adani Group shares has recouped most of the losses. LIC’s stake in group companies is Adani Ports & SEZ 9.12 percent, Adani Enterprises 4.24 percent, ACC 6.41 percent, Ambuja Cement 6.3 percent, Adani Total Gas 6.02 percent, Adani Transmission 3.68 percent, Adani Green Energy 1.36 percent.
