Amid stock market bloodbath, Hindenburg Research report did further damage to Adani group stocks. In last two sessions, Adani group stocks have nosedived much lower than key benchmark indices, leading to huge losses to its retail and institutional investors. The Life Insurance Corporation (LIC) of India is one such domestic institutional investor (DII), which has huge shareholding in Adani group stocks. In last two days, LIC has lost ₹16,580 crore. Out of these ₹16,580 crore loss in last two days, LIC lost ₹6,232 crore in one Adani group stock Adani Total Gas in which it has 5.96 per cent shareholding.
Here we list out full details in regard to LIC shareholding in Adani group stocks and the damage it received after Hindenburg Research report became public:
1] Adani Enterprises: In this flagship Adani group company, LIC holds 4,81,74,654 shares, which is 4.23 per cent of total paid up capital of the company. In last two days, Adani Enterprises share price has dipped from ₹3,442 to ₹2,768.50 apiece levels on NSE, which means Adani Enterprises shares have lost ₹673.5 apiece in last two days. As per the shareholding data of Adani Enterprises Ltd for October to December 2022 quarter, LIC holds 4,81,74,654 Adani Enterprises shares. This means, LIC lost around ₹3,245 crore ( ₹673.50 x 4,81,74,654) in Adani Enterprises share fall in last two days.
2] Adani Ports: As per shareholding pattern of this company for Q3FY23, LIC holds 19,75,26,194 company shares or 9.14 per cent stake in the company. In last two days Adani Port share price has tumbled from ₹761.20 to ₹604.50 apiece levels, losing ₹156.70 per share in two sessions. As LIC holds 19,75,26,194 Adani Port shares, net loss to LIC in these two days stands at ₹3,095 crore ( ₹156.70 x 19,75,26,194).
3] Adani Transmission: .s per the shareholding data of Adani Transmission for October to December 2022 quarter, LIC holds 4,06,76,207 shares or 3.65 per cent stake in the company. In last two days, Adani Transmission share price has tumbled from ₹2,762.15 to ₹2,014.20 apiece, losing ₹747.95 per share in these two days. As LIC has 4,06,76,207 Adani Transmission shares, net loss of LIC in last two days slump of Adani Transmission shares is around ₹3,042 crore ( ₹747.95 x 4,06,76,207).
4] Adani Green: As per the shareholding pattern of Adani Green Energy Ltd for recently ended December 2022 quarter, LIC holds 2,03,09,080 shares or 1.28 per cent stake in the company. Adani Green share price has dipped ₹430.55 apiece in last two days, leading to near ₹875 crore loss in last two straight sessions.
See investment expert Basant Maheshwari tweet below:
5] Adani Total Gas: As per the shareholding pattern of Adani Total Gas for recently ended December 2022 quarter, LIC holds 6,55,88,170 shares or 5.96 per cent stake in the company. Adani Green share price has dipped ₹963.75 apiece in last two days, leading to near ₹6,323 crore loss in last two straight sessions.
So, adding all these losses that LIC incurred in last two sessions, LIC has lost around ₹16,580 crore due to heavy sell off in above mentioned five Adani group stocks.
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