Double blow to LIC in a month, Adani Group battered by Hindenburg's injury!

National Desk:

After the report of the American research firm Hindenburg last month, the process of decline in the shares of Adani Group did not stop.  Along with Adani Group surrounded by difficulties, problems have also increased for the government insurance company Life Insurance Corporation of India (LIC).  Between the Hindenburg and Adani controversy, LIC has already suffered losses.  Along with this, its shares have also declined.  On Friday, LIC shares closed at Rs 584.70 on BSE, falling more than one per cent.  At the same time, on February 1, this stock had reached its all-time low level of Rs 582.45.
LIC shares have lost 17 per cent since the Hindenburg report on Adani Group.  At the same time, the market capitalization of this insurance company has decreased by Rs 75 thousand crore in a month.  The market cap of LIC on January 24 was Rs 4,44,141 crore.  It came down to Rs 3,69,790 on Friday.  However, internal sources of the Adani Group have insisted that LIC has made some profits in January.  However, no statement has yet come from the insurance company on profit or loss.