₹3,816 crore in the December quarter amid volatility in the stocks of the ports-to-renewable energy conglomerate, according to data from stock exchanges.Despite this sale, the value of LIC’s investment in Adani group companies has risen almost 54% from ₹36,470 crore on 30 January 2023 to ₹56,073.64 crore on 17 January 2024, as shares gained during the period. During the third quarter, LIC also bought shares in Ambuja Cements Ltd worth ₹20.3 lakh.In Q3, LIC sold a little more than 37 million shares across flagship Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd (APSEZ) and Adani Energy Solutions Ltd (AESL).
The insurer’s stake dipped from 4.23% in the September quarter to 3.93% in December in Adani Enterprises, from 9.07% to 7.86% in APSEZ, and from 3.68% to 3% in AESL.IndusInd Bank, Finolex Industries, Jindal Stainless, Polycab India, Poonawalla Fincorp, Ramkrishna Forgings, Shoppers Stop, South Indian Bank, Sterling and Wilson Renewable Energy, and Tata Communications are among companies that will announce their quarterly earnings on 18 January.IndusInd Bank, Asian Paints, Nazara Tech, LTIMindtree, NHPC, are among the stocks that will be in focus today.GIFT Nifty traded 158 points, or 0.73%, lower at 21,421, in early deals in Thursday, indicating a negative start for Indian benchmarks.On Wednesday, Sensex tanked 1,628 points or 2.23% to settle at 71,500, while the Nifty plunged 460 points or 2.09% to end at 21,572 on Wednesday. It was the worst single-day fall in the Sensex in percentage terms in the last 18 months.Asian equities traded on a mixed note in opening deals on Thursday mixed after US stocks and Treasuries fell as strong retail sales data cast fresh doubt on the prospect the Federal Reserve
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