.jpeg)
Adani Group shares recovered from the dark shadow of Hindenburg, filled the coffers of LIC, gave profit of so many crores
Government insurance company LIC has got strong returns on its investment in Adani Group. LIC has invested a total of Rs 38471 crore in seven companies of the Adani Group. By the end of the last financial year i.e. on 31 March 2024, this investment increased to Rs 61210 crore. This means that LIC has a profit of Rs 22378 crore. Let us know the complete news.
Strong returns have been obtained by LIC, the oldest and largest insurance company in the country, from its investment in the Adani Group. In the most recent fiscal year, 2023–2024, LIC invested in the Adani Group. On this investment, he has made 59% profit.
According to stock market data, LIC, a public sector insurance company, has made investments totalling Rs 38,471 crore in seven Adani Group companies. This investment reached Rs 61,210 crore by the end of the most recent fiscal year, which fell on March 31, 2024. This indicates that LIC has made Rs 22,378 crore in profit.
After reducing its investment owing to political pressure, LIC made this profit from the shares of Adani Group companies.
American shortseller Hindenburg had claimed in one of his reports that Adani Group had committed financial irregularities. Although Adani Group termed all the claims of Hindenburg as baseless, there was a big fall in the shares of all its companies. This also reduced the value of LIC's investment.
