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 68 Views 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 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 For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true, and top stories of the world.
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
For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true, and top stories of the world.
