The Life Insurance Corporation of India (LIC) is a state-owned insurance company in India.
It is the largest insurance company in India and has a wide range of insurance products, including life insurance, health insurance, and investment plans.
LIC is also a major player in the Indian stock market, as it holds shares in several publicly traded companies.
The value of these shares can fluctuate based on the performance of the companies and the overall stock market conditions.
LIC is a long-term investor and holds shares in many blue-chip companies, some of the key stocks in their portfolio are SBI, L&T, HDFC, Reliance Industries, and ICICI Bank.
The value of its shares can fluctuate based on the performance of the companies and the overall stock market conditions.
Additionally, the government of India has been known to use this as a tool for achieving certain policy objectives, such as supporting domestic companies or stabilizing the stock market during times of volatility.
As for the statement you’ve mentioned about the company losing a certain amount of money in 2 days on Adani shares, I’m still unclear about the context, that statement seems to be true only in a specific time frame and under specific market conditions.
It’s not a general statement and the value of shares in a company such as Adani can change rapidly based on a variety of factors
The Hindenburg Research report further harmed the stocks of the Adani Group during the bloodbath on the stock market.
The stocks of the Adani Group have plummeted over the past two sessions, falling far below important benchmark indices, causing both institutional and retail investors to suffer significant losses.
One such domestic institutional investor (DII) with a sizable shareholding in the stocks of the Adani Group is the Indian Life Insurance Corporation (LIC). LIC has lost $16.580 billion over the last two days.
Out of these losses of 16,580 crores in the previous two days, the company lost 6,232 crores in one stock of the Adani Group, Adani Total Gas, in which it holds a 5.96% stake.
Here, we provide complete information regarding LIC’s stock holdings in the Adani Group and the harm it suffered after the publication of the Hindenburg Research report:
[1] Adani Enterprises: LIC owns 4,81,74,654 shares, or 4.23 percent of the company’s total paid-up capital, in this flagship Adani group company. Adani Enterprises shares have lost 673.5 rupees per share over the past two days as their NSE share price has dropped from 3,442 to 2,768.50 per share.
LIC currently owns 4,814,654 shares of Adani Enterprises Ltd., according to Adani Enterprises Ltd.’s shareholding information for the quarter from October to December 2022. Accordingly, the fall in the value of Adani Enterprises’ stock over the last two days cost LIC approximately Rs. 3,245 crores (Rs. 673.50 x 4,811,746,54).
[2] Adani Ports: According to the company’s shareholding pattern for the third quarter of fiscal year 23, LIC owns 19,752,619 shares or 9.14% of the company.
Adani Port’s share price has fallen in the last two days from levels of $661.20 to $604.50 per share, losing $156.70 per share in those two sessions. Given that LIC owns 19,752,619 shares of Adani Port, its net loss for these two days is $3,095 crore (156.70 x 19,752,619 shares).
[3] Adani Transmission: According to Adani Transmission’s shareholding information for the quarter from October to December 2022, LIC owns 4,066,207 shares, or 3.65% of the company.
Adani Transmission’s share price has dropped from $2,762.15 to $2,014.20 over the past two days, losing $747.95 per share. Given that LIC owns 4,06,76,207 shares of Adani Transmission, its net loss as a result of the recent two-day decline in the value of those shares is approximately $3,042 crore (747.95 x 4,06,76,207).
[4] Adani Green: According to Adani Green Energy Ltd.’s shareholding pattern for the most recent quarter ending in December 2022, LIC owns 2,03,09,080 shares, or 1.28 percent, of the company.
The share price of Adani Green has decreased by 430.55 each over the past two days, resulting in a loss of almost 875 crores in the last two sessions.
[5] Adani Total Gas: According to Adani Total Gas’s shareholding pattern for the most recent quarter ended in December 2022, LIC owns 6,55,88,170 shares or 5.96% of the company. The share price of Adani Green has dropped by $963.75 per share over the past two days, resulting in a loss of nearly $6,323 billion over the past two sessions.
In total, LIC lost about 16,580 crores over the course of the previous two sessions as a result of the sharp sell-off in the aforementioned five Adani Group stocks.
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