LIC Investment Adani Group: Life Insurance Corporation of India i.e. LIC has earned a profit of 59% from its investment in Adani Group companies in the financial year 2023-2024. Due to the report of American short seller Hindenburg, a big fall was seen in the shares of Adani Group. However, it has been more than a year since this report was made. Since then, there has been a tremendous recovery in the shares of the group.
LIC earns a profit of Rs 22,378 crore in a year by investing in Adani Group. According to stock exchange 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. That means LIC has earned a profit of Rs 22,378 crore in one year. With this investment, 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. During this period, LIC's investment in Adani Ports increased from Rs 12,450.09 crore to Rs 22,776.89 crore.
The insurance company's investment in Adani Green Energy Limited more than doubled in a year to Rs 3,937.62 crore. LIC has also earned good profits on its investments in Adani Total Gas Limited, Ambuja Cement and ACC.
Questions were raised on LIC's decision to invest in Adani Group.
Last year, after allegations of stock manipulation in Adani Group in the Hindenburg Report, LIC also had to face questions on its decision to invest in the group. However, Adani Group had termed Hindenburg's report as completely wrong.
