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It has been a full month since the controversial Hindenburg Report. There has been a lot of turmoil in the domestic stock market since the report of the American short seller firm Hindenburg. Since being targeted in the report, the value of Adani Group Stocks has fallen sharply and many investors have suffered losses due to this. Meanwhile, there are reports that the government insurance company LIC has also suffered losses due to Adani Stocks Downfall. Although this is not entirely true. At least the figures tell the same story.
LIC is the biggest institutional investor
Before proceeding further, let us tell you that Life Insurance Corporation of India is the largest Domestic Institutional Investor (DII) in the Indian market. The government insurance company does value creation for its shareholders (LIC Shareholders) and policyholders (LIC Policyholders) by investing money in the stock market. LIC also has shares in some companies of Adani Group.
LIC’s investment in these companies
According to stock market data, LIC holds shares in seven Adani group companies. These companies include Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Total Gas, Adani Transmission, Ambuja Cements and ACC are involved.
This is how the value of holding decreased
The value of LIC’s holding (LIC Adani Holding) in Adani’s shares was Rs 82,970 crore as on 31 December 2022. At present, the value of the shares of Adani Group with LIC is around Rs 29 thousand crore. If seen in this way, the loss of more than 50 thousand crore rupees can be calculated. But the question arises, is this the complete picture?
LIC had invested so many crores
Sources connected to the Adani group tell a slightly different story. When LIC invested in the shares of Adani Group, their value was Rs 30,127 crore. That is, LIC had bought Adani’s shares for Rs 30,127 crore, whose value had reached around Rs 83 thousand crore at one time. Now their value is around 29 thousand crore rupees, according to this, there is a loss of about 1000 crore rupees. However, the full picture has not yet come to the fore.
Overall, LIC has so much profit
Sources associated with the Adani group reveal that LIC has already made a decent profit by selling the shares of the Adani group. LIC had sold these shares for about Rs 6,450 crore, while it had bought these shares for Rs 3,100 crore. In this way, LIC had earned a profit of about Rs 3,350 crore then. This means that even after the decline in Adani’s shares, overall LIC is still profitable from this holding.
The value has reduced so far
In his report dated 24 January 2023, Hindenburg had accused the Adani group of fraud in accounting and manipulation of share prices. On the other hand, the Adani group says that all the allegations made in the Hindenburg report are baseless and motivated by a specific agenda. Hindenburg had also said that the shares of Adani Group are overvalued. Ever since the report came to the fore, the shares of Adani Group have continued to decline. Some shares of Adani Group have fallen by up to 80 per cent in the last one month.
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