
LIC is making 45% profit on Adani investment
LIC has invested ₹31,200 crore in Adani Group companies that have touched ₹45,481 crore or 45% above the cost price by May 23
LIC has invested ₹31,200 crore in Adani Group companies that have touched ₹45,481 crore or 45% above the cost price by May 23
These two Adani group companies will no longer be eligible for inclusion in the MSCI GIMI as they will not meet the relevant free float-adjusted m-cap requirements, says MSCI
Adani Transmission, Adani Total Gas, and Indus Towers will be removed from the MSCI India Standard Index, effective as of the close of May 31, 2023.
For FY23, the profit grew 7% to ₹546 crore, while revenue from operations jumped 46% to ₹4,683 crore, driven by higher volume and increase in sales price.
LIC ups its stake in Adani Green Energy, Adani Total Gas, Adani Enterprises, and Adani Transmission, but cuts stake in Ambuja Cements, ACC, and Adani Ports & SEZ
Shares of three Adani Group companies - Adani Transmission, Adani Total Gas and Adani Green Energy - hit their respective 5% upper circuit limits.
The stock prices of city gas distributors surged as they cut CNG and PNG prices after the Centre revised the pricing methodology for domestic natural gas.
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.
Of the nine Adani group stocks, 7 were trading higher amid report that Gautam Adani-led conglomerate is planning to prepay its loans.
Adani Total Gas had hit its 52-week high of ₹4,000 on January 23, a day before U.S. short seller Hindenburg released its report on the Adani group.