LIC's Adani investment: Policy holders and investor's money is absolutely safe
By Lokmat English Desk | Published: February 4, 2023 02:30 PM2023-02-04T14:30:15+5:302023-02-04T14:30:15+5:30
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The Adani Group suffered huge losses after the US-based Hindenburg Institute report. Apart from this, the investors of Adani group are also facing loss of crores. The shares of various Adani group companies were acquired by LIC and other companies.
Has Adani Group's collapse jeopardized LIC policies or investments in LIC? Will the money invested in the policy be lost? Many such questions are being asked. Soon after the collapse of the Adani group, LIC issued a statement clarifying it.
LIC has invested Rs 36,474.78 crore in Adani Group. Before the publication of the Hindenburg report, the value of this investment was 77 thousand crores. The decline in Adani Group's shares has certainly affected LIC's earnings.
LIC has clarified through a statement that there is no need to panic in the Adani case. LIC's total assets are more than 41.66 lakh crores. This means his investment in the Adani Group is less than 1 percent.
LIC policyholders or investors have no reason to panic. When a person buys a policy, the insurance company invests the premium you pay in the market, where your claims are paid out of the profits.
It is for this reason that insurance companies always try to ensure that you get long term insurance, that you have a long life. The longer your money is with the insurance company, the longer they will earn from this money. On the other hand, shares of Adani have fallen.
LIC has invested in several companies other than the Adani Group. LIC has invested more than 10 lakh crores in 36 companies in the stock market. If compared to their investment in the Adani Group, it is less than 1 percent.
LIC has clarified its investment. LIC has clearly stated that these investments are also made within the RICs management framework laid down for investee entities. Deepam Secretary Tuhin Kant Pandey said that LIC's investment.
If you have a policy with LIC then there is no need to worry so much. Simply put, LIC policyholders need not panic over the Adani case. LIC comes under one of the safe securities. They have rated bonds and equities.
As of 20 September 2022, the total AMU i.e. Assets Under Management was 41 lakh 66 thousand crores. Here AMU means the money that insurance companies manage in the market. LIC's investment in Adani is Rs 36,474 crore which is less than 1 per cent of its total investment.
Meanwhile, American short selling company Hindenburg released a report on January 24. The report made serious allegations against the Adani group. Adani Group has made several manipulations in its own accounts. The group overprices the shares of its own companies.
After that, accusations and counter-accusations started from both sides. During this period Adani Group's shares fell sharply. In just 10 days, Adani lost more than 9 lakh crores. The discussion then started is to increase the concern of people investing in Adani's companies.
