By Amit - March 5, 2023
One hour ago
Investors of Adani Group have made very good profits in the last few days. Meanwhile, the loss of the country’s largest institutional investor ‘Life Insurance Corporation of India’ (LIC) has also been recovered to a large extent. In fact, after the allegations leveled in the Hindenburg report on the group, investors and LIC had suffered heavy losses.
Now these days Adani Group is trying to win the trust of investors by holding fixed income roadshows in different countries of the world. Investor confidence has also been restored to a large extent after the group’s roadshows in Singapore and Hong Kong recently. Not only this, the group has also received an investment of more than Rs 15,000 crore from Rajeev Jain, co-founder and chairman of American investment firm GQG Partners.
In the last 4 trading sessions, there was a tremendous rise in the shares of 10 companies of the group.
Due to road-shows and getting such a huge investment, the trust of the investors is huge on the group. Due to which the shares of 10 listed companies of the group have seen tremendous growth in the last four trading sessions. On the other hand, on Friday also all the 10 shares of the group were up.
Adani Enterprises shares rose the most by 16.60% on March 3.
On March 3, the group’s flagship company Adani Enterprises’ shares rose the most by 16.60%. On the other hand, Adani Ports saw a gain of 9.76%. Apart from this, the shares of Adani Transmission, Wilmar, Power, Total Gas, Green Energy, Ambuja Cement, ACC and NewsBust India were up by about 5-5% each.
LIC’s loss recovered to a large extent due to rapid rise in group shares
Due to this boom in Adani Group’s shares, LIC’s loss has also been recovered to a great extent. The insurance company has invested in 7 out of 10 listed companies of the group. LIC holds 1.28% stake in Adani Green and 9.14% in Ports. Ports shares have gained 25.36% in last one month.
LIC’s investment in the group on January 24 was Rs 81,268 crore
Shares of Adani Group had taken a beating following a damaging report by US short-seller Hindenburg Research. As the group’s shares declined, LIC’s investment started going negative. On January 24, LIC’s investment in group shares was Rs 81,268 crore, which fell to Rs 29,893.13 crore. LIC’s total investment in the group’s shares is Rs 30,127 crore.
LIC’s investment increased by Rs 9,000 crore to Rs 39,068 crore
According to reports, LIC’s investment has now increased by Rs 9,000 crore to Rs 39,068.34 crore after the rise in shares of Adani Group. At one point in February, LIC had lost Rs 50,000 crore from Adani Group’s stocks.
82,970 crore in the shares of the group as on 31 December 2022. Was the investment of LIC
The combined market value of LIC’s investment in Adani’s 7 stocks – Adani Enterprises, Green Energy, Ports, Total Gas, Transmission, Ambuja Cements and ACC was Rs 82,970 crore as on 31 December 2022, which declined to Rs 33,242 crore as on 23 February . LIC then held more than 1% of the group’s 7 shares.
LIC had said in a statement on January 30 that as of December 31, 2022, its total holding under equity and loans in Adani Group companies was Rs 35,917.31 crore. Whereas on January 27, 2023, the market value of LIC’s investment was Rs 56,142 crore.
mcap of 10 group companies increased by rs 1.73 lakh crore in 4 sessions
In the last few trading sessions, the shares of Adani Group companies have gained a lot. According to reports, the 10 listed companies of the group have added Rs 1.73 lakh crore to their combined market capitalization (mcap) in the last 4 trading sessions till March 3.
Adani Group will hold roadshows in London, Dubai and America
According to reports, after Singapore and Hong Kong, now Adani Group will hold fixed income road-shows in London, Dubai and several US cities from March 7 to March 15 this month to win the confidence of investors. Group management members and Group Chief Financial Officer Jugshinder Singh will also participate in the roadshows. The group hopes that through these road-shows, they will be able to meet investors and further increase investor confidence in the company.
GQG buys 3.4% stake in Adani Enterprises
After the Singapore and Hong Kong road-shows, Adani Group also got huge investment. GQG Partners has invested Rs 15,446 crore in four Adani Group companies. The group had reported on Thursday that GQG has bought a 3.4% stake in Adani Enterprises for $662 million (Rs 5,421 crore).
While GQG has bought 4.1% of Adani Ports for $640 million (Rs 5,240 crore), 2.5% of Transmission for $230 million (Rs 1,883 crore) and 3.5% of Green Energy for $340 million (Rs 2,784 crore).
Hindenburg accused the group of stock manipulation
On January 24, after the report of American short seller Hindenburg Research came out, there was a lot of volatility in the shares of Adani Group. Hindenburg accused Adani Group companies of stock manipulation and accounting fraud. However, the Adani Group denied all of Hindenburg’s allegations.