Life Insurance Corporation of India, the country's largest insurer, has witnessed a remarkable 63% increase in its Adani portfolio over the past year, based on shareholding data available on the stock exchange and prices as of June 3.
The market capitalisation of Adani Group stocks soared by as much as Rs 2 lakh crore, significantly bolstering the value of LIC's holdings in the group. Since June 2, 2023, the value of LIC's Adani portfolio has surged by Rs 27,233 crore, driving the total value from Rs 43,268 crore to Rs 70,501 crore.
During the same period, LIC booked marginal profits, with gains of nearly Rs 6,400 crore realised earlier this year.
According to shareholding data available on the stock exchanges, LIC does not hold any stake in Adani Power, Adani Wilmar, or NDTV.
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