New Delhi: Reports have surfaced that LIC has suffered a loss of Rs 18,000 crore due to the decline in the share value of Adani group companies. LIC has suffered the biggest loss in two days.
Earlier, the US-based Hindenburg Research Institute published a report last Wednesday that the Adani Group was involved in financial irregularities. Following this, the share value of Adani Group companies began to fall. In the last 2 days alone, the value of Adani companies has fallen by Rs.4.20 lakh crore. Shares of Adani Enterprises, Adani Total Gas, Adani Green Energy and Adani Transmission fell over 20% in yesterday’s trade.
In this case, LIC suffered the biggest loss due to decline in Adani Group shares. It is noteworthy that LIC has the largest investment in five companies of the Adani Group. Accordingly, while LIC’s investment in Adani Group companies stood at Rs 81,628 crore on January 24, 2023, it fell to Rs 62,621 crore on January 27. That is, LIC has lost Rs 18,647 crore due to decline in Adani Group shares. This is the decline from yesterday to the time of posting today.
If LIC losses are to be apportioned investment wise Adani Total gas 6,237 crore due to fall in stocks, Adani Enterprises 3,279 crore through stock fall, Adani Ports 1,474 crore through stock fall, Adani Green Energy 871 crores and Rs Acc It has suffered a loss of Rs.544 crores through stock decline.
Apart from these Adani Transmission LIC Mega had also invested in equities. LIC held 4,06,76,207 shares in the company as of the October to December 2022 quarter. If we look at the share percentage it is 3.65%. In the last two days, Adani Transmission’s share price fell from Rs.2762.15 to Rs.2014.20. The average price per share fell by Rs.747.95 paise. As LIC has 4,06,76,207 shares in it, LIC has lost Rs 3,042 crore only in terms of investment in Adani Transmission Company. The calculation is (₹747.95 x 4,06,76,207).
| Adani Companies | LOSS OF LIC |
| Adani Total Gas | 6,237 crores |
| Adani Enterprises | 3,297 crores |
| Adani Ports | 3,205 crores |
| Adani Transmission | 3,036 crores |
| Ambuja Cements | 1,474 crores |
| Adani Green Energy | 871 crores |
| Acc | 544 crores |
Even the common man is distraught by the loss of LIC. In this context, Narendra Solanki, head of equity research at Anand Rathi Shares and Stock Brokers, said in a media interview, “Investors should wait for more clarity and allow the issue to resolve. After that, one can approach Adani Group shares based on new information. Most of the issues are known among market participants.”