Breaking News
1. Edtech Start-Up Byju's Faces Deadline For $40 Million Payment Of $1.2-Billion Loan: Report      2. Sakshi Malik withdraws from wrestlers' protest.      3. Edtech Start-Up Byju's Faces Deadline For $40 Million Payment Of $1.2-Billion Loan      4. Odisha Train Accident: Kharge Writes To PM Modi, Asks 'Why Were Grave Red Flags Ignored'      5. United States Secretary of Defence Lloyd Austin, on Monday, inspected the Tri-Service Guard of Honour in the presence of Defence Minister Rajnath Singh      6. Gangster Mukhtar Ansari convicted in Awadhesh Rai murder case, quantum of punishment to be pronounced at 2pm      7. RSS worker, Raju Tambak held for derogatory posts on Muslim women.      8. Adani Group announces help for children of Odisha train crash victims: 'Will fund school education'.      9. Indigo flight coming from Chennai to Dibrugarh makes emergency landing at Guwahati.      10. Russian Economic Forum bars reporters from 'unfriendly nations'.      11. NASA tests technology to detect tsunamis from Earth's atmosphere.      12. America warns Xi Jinping of 'disastrous' conflict, asks China to come for 'essential talks'.      13. PM Modi meets train crash survivors in Odisha today.      14. Amitabh Bacchan pens a note on his 50th wedding anniversary with Jaya Bacchan.      15. Death toll in Odisha train accident reaches 238.      16. UP Shalimar-Chennai Coromandel Express collides with goods train in Bahanagar railway station in Odisha: 350 injured and 50 dead!      17. Indian scientists discover 62 plants that can live without water in Western Ghats      18. Pakistan releases 198 Indian fishermen.      19. Dev Shah wins National Spelling Bee, going out on top after an up-and-down spelling career.      20. Ella Irwin Resigns from the post of Twitter Trust and Safety Head.     

Loss of Rs 50,000 Crore in 50 Days Due to Adani-Hindenburg Crisis by LIC

  • Posted on February 25, 2023
  • News
  • By Akta Yadav
Hindenburg Crisis by LIC:-
The largest domestic institutional investor, Life Insurance Corporation of India (LIC) has suffered a staggering loss of Rs 49,728 crore on its holdings in the Adani group stocks. From Rs 82,970 crore in December 2022, the combined market value of LIC's holdings in seven Adani stocks decreased to Rs 33,242 crore in February 2023.  After Hindenburg Research LLC published major claims against the Adani group on 24 January 2023, alleging accounting fraud and stock manipulation, the Adani group stocks experienced a significant decline. Hindenburg Crisis by LIC Hindenburg Crisis by LIC A senior finance ministry official expressed his opinions on LIC investments by contributing that, “We cannot comment till official filing to exchanges. In the market, LIC is a diversified long-term investor and investment values in the market are always fluctuating”. On 30 January, during a regulatory filing, LIC stated that as compared to the total acquisition price of stocks of Rs 30,127 crore, the market value of its holding in the Adani Group businesses was Rs 56,142 crore. MarketsMojo's Chief Investment Officer, Sunil Damania further added, “I don't believe LIC would have sold any Adani equities amid the present sell-off. Due to fluctuations in the price of Adani stock, LIC's value has decreased. I believe that in this down market, LIC could have purchased more Adani shares. Considering the past, it appears that the Adani group may continue to perform poorly in the near future”. Hindenburg Crisis by LIC Hindenburg Crisis by LIC For more updates keep visiting our website where we provide unbiased, true, and top stories of the world.    
No Image
Akta Yadav

You May Also Like