
LIC notches big gain on Adani investment as stocks rally
The market value of LIC investment in Adani Group stocks increased by more than ₹9,600 crore in less than two months, from ₹38,846 crore on March 31 to ₹45,481 crore as on May 23.
The market value of LIC investment in Adani Group stocks increased by more than ₹9,600 crore in less than two months, from ₹38,846 crore on March 31 to ₹45,481 crore as on May 23.
The cumulative market valuation of 10 listed Adani stocks has gone up by ₹1.45 lakh crore in the last two sessions to ₹10,79,277 crore in early trade today.
Ownership of the 42 entities behind the 13 FPIs is not clear to SEBI as it is not within the current rules for FPIs to provide such disclosures
Shares of three Adani Group companies - Adani Transmission, Adani Total Gas and Adani Green Energy - hit their respective 5% upper circuit limits.
Eight of ten Adani group stocks were trading in green, barring Transmission and Total Gas, with the conglomerate’s cumulative m-cap rising to ₹9.04 lakh crore.
The NSE has placed Adani Enterprises, Adani Power, and Adani Wilmar under the short-term ASM framework from March 9.
Adani Enterprises shares rebounded nearly 80% in just five sessions, from ₹1,193.50 on February 27, to ₹2,135 intraday today.
The rally in PSU Bank index was led by index heavyweights such as Union Bank of India, State Bank of India, Bank of Baroda, Punjab National Bank, which rose up to 7%.
Adani Enterprises shares surged over 31% in two sessions amid a report that Gautam Adani-led conglomerate is planning to prepay or repay share-backed loans.
Of the nine Adani group stocks, 7 were trading higher amid report that Gautam Adani-led conglomerate is planning to prepay its loans.