LIC-Adani Investment: Ever since Hindenburg, a US-based investor research firm, has released its research report on Adani Group, there has been an earthquake in the Indian stock market and the share price of listed companies of Adani Group is witnessing a steep decline. Is.
LIC-Adani Investment: Ever since Hindenburg, a US-based investor research firm, has released its research report on Adani Group, there has been an earthquake in the Indian stock market and the share price of listed companies of Adani Group is witnessing a steep decline. Is. This movement in the shares of Adani Group has put concern in the minds of the investors, while on the other hand, questions are also being raised about LIC and the country’s largest bank SBI, the government institutions investing in Adani Group.
In the report of Hindenburg Research, the Adani group has been accused of fraud in accounting along with inflating the value of shares of its companies by 85 times.
LIC is not in loss due to the decline of Adani Groups
However, despite this, the Adani group has refused to price its shares. Meanwhile, Life Insurance Corporation of India (LIC) has clarified about its investment in Adani Group and made it clear that this investment has been done only under the prescribed risk management framework made for the institution. In an exclusive interview given to news agency ANI, Sachin Tuhin Kant Pandey of Department of Investment and Public Asset Management (DIPAM) has answered many questions related to this matter.
Talking about the latest statement issued by LIC, the secretary said, ‘LIC has already issued a public note clarifying what is the level of their investment in Adani Group and what is its value as on that date. . LIC can invest in the stock market with risk, provided it is within the risk management framework, which is being regulated by IIDAI.
LIC has invested less than one percent in Adani Group
Talking about the recent fall in Adani Group’s shares, he said that he cannot say anything on this as DIPAM looks after the Central Public Sector Enterprises.
He said, ‘They (LIC) come under the safe government securities named Gsec and they have some rated bonds and equity. Apart from this, he makes his investments under a strategy and makes a portfolio keeping in mind the risk. So I don’t think this is going to have any impact on LIC. The ups and downs of the stock price of a company will be reflected in their books and LIC has already clarified on this, after which there is nothing left to say on this.
LIC has earned almost double the investment
Significantly, LIC has made it clear that it invested Rs 30,127 crore in Adani Group’s shares in a gap of several years, whose value was Rs 56,142 crore on January 27, 2023. Under the total investment of LIC, its investment in Adani Group is only 0.975 percent according to the book value. Answering a question on dividends and disinvestments, the DIPAM secretary said the target for the next year is ₹94,000 crore, of which ₹51,000 crore is for disinvestment and ₹43,000 crore for dividend receipts.
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