LIC Sells 3.73 Crore Shares of Adani Shares in Q3 |

LIC (Life Insurance coverage Company of India), a state-owned firm and one of many largest traders within the Adani Group, has taken benefit of the latest rise within the conglomerate’s inventory costs to ebook earnings. Based on the shareholding sample for the December quarter, LIC has lowered its stakes in Adani Vitality Options, Adani Enterprises, and Adani Ports.
Through the quarter, LIC offered a complete of 37,278,466 shares of the three Adani firms, whereas additionally buying 4,500 shares of Ambuja Cements, in keeping with an ET report.
The stake held by LIC in Adani Group firms turned a controversial matter between the ruling BJP and Congress events following the Hindenburg controversy that arose in January-end 2023. LIC denied allegations of political stress and acknowledged that the market worth of its investments in Adani Group shares was Rs 56,142 crore as of January twenty seventh, 2023.
LIC’s holdings in Adani Group elevated to Rs 58,374 crore on the finish of the December 2023 quarter, up from Rs 45,025 crore on the finish of September 2023, the report stated.
This is a breakdown of LIC’s stake in every of the Adani firms:
1. Adani Vitality Options: LIC lowered its stake from 3.68% within the September quarter to three% in Q3. The inventory noticed a 42% improve through the quarter.

2. Adani Enterprises: LIC’s possession within the flagship firm of the Adani Group decreased from 4.23% to three.93% quarter-on-quarter. The Nifty inventory confirmed a progress of virtually 29% in Q3.

3. Adani Ports: LIC additionally lowered its stake in Adani Ports, the place it has a big funding within the Adani Group, from 9.07% in Q2 to 7.86% in Q3. The inventory skilled a outstanding rally of over 46% through the quarter, with LIC’s stake valued at over Rs 20,000 crore.

LIC’s stake in different Adani shares, together with ACC, Adani Inexperienced Vitality, and Adani Complete Fuel, remained unchanged. Adani Inexperienced was the best-performing inventory in LIC’s portfolio, exhibiting a progress of over 73% in Q3.
Through the quarter, LIC made a small buy of 4,500 shares of Ambuja Cements, however its proportion shareholding remained unchanged at 6.29%.

The Adani vs Hindenburg challenge remains to be ongoing, regardless of the Supreme Court docket ruling out transferring the investigation to different businesses. The Securities and Trade Board of India (SEBI) is at present conducting investigations into the allegations towards the Adani Group, with 22 out of the 24 investigations accomplished. The apex courtroom has urged SEBI to expedite the 2 pending investigations, ideally inside the subsequent three months.