Share Market News: LIC Earnings From Adani Group’s 4 Subsidiaries Witness Rapid Decline

08 Dec, 2023 Author: Ayushee Joshi

Share Market News: The profit earned by the Life Insurance Corporation of India (LIC) from its investment in Adani Group is steadily declining as Adani Group's stock price falls. LIC has investments in seven Adani stocks, with a total investment of Rs 24000 crore in four Adani Group stocks. Adani Enterprises, Adani Total Gas, Adani Green Energy, and Adani Transmission are the Adani Group companies in which LIC has invested.

Decline in Adani Group Shares

LIC has invested approximately Rs 23,840 crore in these four Adani Group shares. This investment was worth Rs 27,200 crore based on market prices on February 2, 2023. However, except for Adani Green Energy and Adani Enterprises, LIC is still profitable on the remaining two firms' shares, albeit at a lower rate. According to a statement issued by LIC, India's largest institutional investor, the total purchase value of equity purchased by LIC from all Adani Group companies over the last several years is Rs 30,127 crore.