Adani Group shares recovered from the dark shadow of Hindenburg, filled the coffers of LIC, gave profit of so many crores

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.

Being a government company, pressure also increased on LIC and it reduced its investment in two major companies of the Adani Group – Adani Ports & SEZ and Adani Enterprises. These two shares have gained 83 per cent and 68 per cent respectively.

But, Adani Group recovered from the shock caused by the Hindenburg report and made a spectacular comeback, due to which LIC has also made huge profits. Despite reducing its investment, LIC has gained 59 per cent from Adani Group shares.