Adani Group news: Ever since the Hindenburg report came out the market value of Gautam Adani's conglomerate has dropped; the combined equity m-value of 10 cos is now below $100bn.
Trinamool MP Mahua Moitra has pressed finance minister Nirmala Sitharaman for answers over state-run Life Insurance Corporation's exposure to the embattled Adani Group, flagging a news report that said the value of its holding in Adani companies had - for the first time - dropped below the purchase price by nearly 11 per cent to settle at less than ?27,000 crore.
"?3,200 crore loss in Adani shares for LIC India so far, Nirmala Sitharaman… what pressure is there to support Adani at cost of Indian public? We need answers," she tweeted Friday morning.
The attached screenshot showed a news report that said 'the market value of state-owned Life Insurance Corporation (LIC) shareholding in Adani Group's five big companies has, for the first time, dipped below its purchase value'. The report identified the five companies in question as Adani Enterprise, Total Adani Gas, Adani Green Energy, Adani Transmission, and Adani Ports.
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