Adani’s success, made LIC earn Rs 22,378 crore in one year. LIC earns Rs 22,378 crore in one year due to Adani

LIC’s investment value in Adani Group shares has increased by Rs 22,378 crore.

When the report of Hindenburg Research came. Then a tremendous fall was seen in Adani’s shares. At that time, LIC, the country’s largest insurance company, was in the news a lot. LIC had to suffer huge losses due to investment in Adani shares. Then LIC was also targeted by the opposition. Now that the impact of the Hindenburg Research report has ended. There has been a tremendous increase in the value of investment in Adani. In the last one year, LIC’s earnings have increased by more than Rs 22 thousand crore due to Adani’s shares. Let us also give you detailed information about this.

How much did LIC profit?

Public sector insurance company LIC has registered a profit of 59 percent in the value of its investments made in Adani Group companies in the financial year 2023-24. The group’s shares made a strong comeback after they were affected by the report of American short seller Hindenburg. According to stock market data, LIC’s total investment in seven companies of Adani Group increased from Rs 38,471 crore on March 31, 2023 to Rs 61,210 crore on March 31, 2024. An increase of Rs 22,378 crore was recorded in this. Last year, the insurance company also faced questions over its decision to invest in the group following allegations of manipulation in Adani’s shares in the Hindenburg Report. However, Adani had called the report completely wrong.

There was profit even after reducing investment

Facing political pressure, LIC had strategically reduced its investment in two key group companies – Adani Ports & SEZ and Adani Enterprises. Shares of these two companies have seen a rise of 83 percent and 68.4 percent respectively. According to stock market data, despite reducing investment, LIC made a profit of 59 percent on its investment in Adani Group in the financial year 2023-24. During this period, many foreign investors – Qatar Investment Authority, Abu Dhabi-based IHC, French giant Total Energy and US-based GQG Investments invested about Rs 45,000 crore in Adani Group companies.

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How much profit from which company?

  1. According to the data, LIC’s investment in Adani Enterprise Limited increased from Rs 8,495.31 crore on March 31, 2023 to Rs 14,305.53 crore after a year.
  2. During this period, investment in Adani Ports and SEZ increased from Rs 12,450.09 crore to Rs 22,776.89 crore.
  3. LIC’s investment in Adani Green Energy Limited more than doubled in a year to Rs 3,937.62 crore.

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Brijesh Pratap
Brijesh Pratap

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