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Adani LIC Investment in Adani Group: Big news related to the country’s largest insurance company Life Insurance Corporation of India (LIC India) is coming out. At present, it has been decided not to make any new investment on behalf of LIC in the companies of Adani Group, the country’s big businessman. There has been a significant decline in the stock market of Adani Group companies. After this, the shares of Adani Group are now available in the market at a cheap price. Adani Group has suffered a huge loss within 15 days. Know what is the new update….
Controversy over investment in Adani Group
LIC has found it very difficult to invest in the stocks of Adani Group. LIC has faced a lot of controversies in the country due to investing in Adani Group. Earlier it was discussed that the top management of LIC was going to hold talks with the Adani group. At the same time, it has become very important to take a decision in our defense regarding Hindenburg’s allegations and the situation that arose after that. Due to this the money of investors in LIC is also trapped.
need to exit
From the news channel CNBC-TV18, LIC Chairman M.R. Kumar (MR Kumar Chairman LIC) has given this information. He said that, we are not thinking of doing anything. The country’s largest insurance company has made it clear that the shares have fallen sharply in a short span of time. In such a situation, it was not right to take a decision that he needed to sell his investment in Adani Group or take any other step related to it. He also said, ‘It was too short a time to decide whether I had to decide or not.
LIC’s investment in Adani Group
According to the data released by the government, LIC has invested a total of Rs 30,127 crore in Adani Group companies in the last several years. In this regard, Chairman MR Kumar has expressed confidence that the fall in shares of Adani Group and the poor performance of the market will not have any negative impact on the embedded value of LIC. There has been a positive return on its investment.
FPO had to be withdrawn
In the last 2 weeks, after the report of Hindenburg Research, an American short-seller firm, the shares of Adani Group companies have fallen sharply. This has triggered a legal battle between the Adani Group and the short-seller. Adani Group has seen a sharp decline in its shares. Due to this Adani Group had to withdraw its FPO despite being fully subscribed.
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