LIC increases stake in Adani Group stocks

While mutual funds reduced their stakes in Adani group companies, the country’s largest investor in the public market – Life Insurance Corporation of India (LIC) – increased its stake in four group stocks amid a sell-off crisis in the March quarter. A damning report by US-based short seller Hindenburg Research.

In the March quarter the insurer increased its stake in four of the six companies – Adani Green Energy, Adani Enterprises, Adani Total Gas and Adani Transmission, while it reduced its stake in two others – Ambuja Cements and Adani Ports and Special Economic Zone.

Shareholding in ACC remained the same, rising to 1,20,33,771 shares, or 6.41 per cent, at the end of the March quarter.

Leave a Reply