LIC seeks clarification from Adani on report

MUMBAI: A senior LIC official has said that the corporation will seek clarification on the Hindenburg report from Adani Group. The insurance giant has said that it has, over the years, purchased Adani stocks worth Rs 30,127 crore and that they were valued at Rs 56,142 crore as of January 27.

In a statement issued on Monday, LIC said that its total holding under equity and debt in Adani Group is Rs 35,917 crore. “The credit rating of all Adani debt securities held by LIC are AA and above which is in compliance with Irdai investment regulations as applicable to all life insurance companies,” the corporation said.