New Delhi: A report by American short-seller firm Hindenburg (the Hindenburg Report) shook the entire empire of the Adani Group. The report of the foreign company Hindenburg was taken up by the opposition parties of India and created a lot of uproar, after which there was a stir in the stock market and there was a big fall in the shares of all the companies of the Adani Group. Amidst this atmosphere, where on one hand investors were leaving the companies of the Adani Group, on the other hand, there was an outcry regarding this report from Parliament. During this time, continuous questions were being raised on LIC's investment in Adani Group companies.
But LIC seems completely confident about its investment in and performance of Adani Group companies. This is the reason why the government insurance company LIC bought lakhs of shares of Adani Enterprises in the March quarter. LIC had bought 3,57,500 shares of Adani Enterprises in the last quarter of the last financial year. After this purchase, LIC's total stake in Adani Enterprises has increased to 4.26 percent. While LIC's stake in Adani Enterprises was 4.23 percent by December 2023.
Not only LIC, but retail investors have also shown great faith in Adani Enterprises. Investors whose investment is less than Rs 2 lakh have seen their stake in the company increase three times. The total stake of retail investors in Adani Enterprises has increased to 3.41 percent. Let us tell you: till the December quarter, the total stake of retail investors (those investing less than Rs 2 lakh) in Adani Enterprises was only 1.86 percent. That is, even after the Hindenburg report, the trust of retail investors in Adani's companies remains intact.
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