LIC becomes rich as Adani Group shares rise! Portfolio grew 63% in one year

New Delhi:

Its investors have benefited from a strong rise in Adani Group shares. The country’s largest insurance company Life Insurance Corporation of India (LIC) is also one of them. According to shareholding data till June 3, 2024, LIC’s Adani portfolio has grown by 63% in the last one year.

LIC’s investment in Adani companies increased
LIC’s Adani portfolio from June 2, 2023 to Rs. 27,233 crore has increased, bringing the total value of the portfolio to Rs. 70,501 crore, which was Rs. 43,268 crores.

Adani Group companies have a market cap of Rs. 2 lakh crore has increased, due to which LIC’s holding has also increased significantly. Adani Group’s portfolio has now reached pre-Hindenburg levels, at Rs. 19.1 lakh crore was. On Friday, the total market cap of Adani Group companies was Rs. 84,000 crore increased to Rs. 17.9 lakh crore was done. Today, on Monday, Adani Group shares again rose to Rs. 19.1 lakh crore market cap was regained.

LIC also posted a modest profit during the same period, which earlier this year was around Rs. 6,400 crore profit was earned. According to shareholding data, LIC has no stake in Adani Power, Adani Wilmar or NDTV.

Rajiv Jain of GQG Partners also received compensation
Earlier, Rajiv Jain, Chairman and CIO of GQG Partners invested money in Adani Group and earned two and a half times returns in less than 1.5 years. Since the release of the Hindenburg Report in January 2023, Jain has made strategic investments in several Adani Enterprises companies through his firm GQG Partners. Rajiv Jain invested $4.3 billion in the group, which has now grown to over $12 billion.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani group company.)

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