Hindenburg fallout: LIC share price falls 17% in a month, shareholding value in Adani shares falls ₹48,600 crore

 

• LIC's largest holding in Adani's shares is in Adani Ports. The insurer also has some shares in Adani Total Gas, Adani Enterprises, Adani Transmission and Adani Green Energy.

• LIC also has investments in Adani's cement business.

Adani Group shares are not the only ones facing the heat on US-based short seller's report in a month. India's largest insurance company LIC has also seen a significant impact. It was not just a spate of protests at LIC offices, but just after Hindenburg accused India's ultra-rich man, Gautam Adani, and his port-to-energy empire of stock manipulation and fraud, the insurer's stock took a massive hit. Put. , In one month, LIC stock has fallen nearly 17% on Dalal Street and its shareholding value in Adani shares has fallen by over ₹48,600 crore.

According to BSE data, LIC holds 4,81,74,654 equity shares or 4.23% in the group's flagship firm Adani Enterprises. Whereas the state-owned Life Insurance Company holds 4,06,76,207 equity shares or 3.65% in Adani Transmission; 6,55,88,170 equity shares or 5.96% in Adani Total Gas; and 2,03,09,080 equity shares or 1.28% in Adani Green Energy.

LIC also has some stake in Adani's cement business. The insurer holds 12,55,89,263 equity shares or 6.33% in Ambuja Cements and 1,20,33,271 equity shares or 6.41% in ACC.

But LIC's largest stake in Adani-related shares will be in Adani Ports. The insurer holds 19,75,26,194 equity shares or 9.14% in Adani Ports.

LIC has no stake in Adani Wilmar, Adani Power and NDTV.

Data is for BSE and up to December 31, 2022.

Taking into account the market value of Adani's shares as on January 24, the value of LIC's shareholding in Adani Enterprises was approximately ₹16585.33 crore; In Adani Ports it was around ₹15,028.78 crore; in Adani Transmission it was ₹11,210.97 crore; in Adani Total Gas it was ₹25,483.96 crore; and in Adani Green Energy it was ₹3,886.24 crore.