Adani Group's top executives will soon meet with the LIC Chairman
The country's opposition political parties have been protesting the insurer and calling for an investigation into claims made against the Adani Group by a short-seller located in the US.
The Adani Group's top executives would be met soon, according to the LIC Chairman.
The insurance, which has made investments in Adani Group companies totaling more than $4 billion, or around 1% of its assets under management, has insisted that its clients do not need to be concerned about the exposure to Adani enterprises.
Before the results were revealed, the price of LIC shares on the BSE closed the day 0.53% higher at Rs. 613.35 per share. The stock has increased over the previous four days.
Stock of the major insurance company is down 13%.
The shares of the major insurer has decreased 13% in the past month. Its 52-week high was 920 on May 17, 2022, and its 52-week low was 582.45 on February 1 of this year. On the BSE, LIC's market value increased to 3.88 lakh crore.
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