Amid high volatility in Adani shares and concerns over investment in the troubled group, LIC chairman MR Kumar on Thursday said the insurer has not reduced its exposure in the Adani Group
India's largest insurer LIC recently informed that it has, over the years, invested over Rs 36,000 cr, and its investment was in profit. As on January 27, the market value of its investment was Rs 56,142 cr
After the Hindenburg report, massive selling was recorded in Adani shares. The LIC chief, however, said that its investment in Adani was for a long time and the firm would review its holdings in two to three years
The LIC chairman said he would soon be calling the management of the Adani Group to know the business profile of the company, what is happening in markets, and how it is planning to manage the whole thing
LIC doesn't invest for short time, the chief of the insurance major said. "We buy and hold for a long time. We will take a view one year, two years or three years from now," he said
LIC holds over a 1 per cent stake in Adani Enterprises, Adani Green Energy, Adani Ports, Adani Total Gas, Adani Transmission, Ambuja Cements and ACC
In an interview with India Today, valuation guru Aswath Damodaran earlier this week said LIC's investment in Adani was one of its best in the last 20 years. He said the insurer made a lot worse investments than investing in Adani
LIC recorded a multifold surge in net profit at Rs 6,334 cr for the quarter ended Dec 31, 2022, as against Rs 235 cr in the year-ago period. The rise in profit was due to higher premium income and investment gains