The value of the Life Insurance Corporation of India’s (LIC) investments in the Adani Group currently stands at Rs 33,686 crore against the cost of Rs 30,127 crore, a report in Hindu BusinessLine (BL) said. On January 30, the country’s largest insurer had said that it had Rs 26,000 crore of gains in the Adani Group stocks.
At the end of December, these gains were nearly Rs 50,000 crore. The profits have eroded with the fall in the overall valuation of the group after the release of the Hindenburg report on January 24.
According to the report, LIC has lost Rs 22,876 crore of investment value in the Adani Group since January 30. The biggest fall in the value has been in Adani Total Gas and Adani Enterprises.
