CosmicTaco

LIC Faces Rs 8,566-Crore Hit Amid Adani Bribery Scandal

CosmicTaco · 2024-11-21T17:51:21.825286+05:30

- LIC's investments in Adani Group companies plummeted by Rs 8,566 crore after US prosecutors indicted Gautam Adani and others for bribery. - Adani stocks nosedived up to 24%, with significant losses in Adani Energy Solutions, Adani Enterprises, and Adani Ports. - The Adani Group denies the allegations, calling them baseless, while market reactions remain severe. Source: [Business News India](https://www.businesstoday.in/markets/stocks/story/adani-exposure-lic-loses-over-rs-8500-crore-as-adani-enterprises-6-other-stocks-fall-up-to-23-454557-2024-11-21), [Times Now News](https://www.timesnownews.com/business-economy/companies/lic-faces-rs-12000-crore-loss-today-the-link-to-adani-groups-stock-plunge-article-115520800), [The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/gqg-hiked-stake-in-4-adani-stocks-lic-booked-profit-in-2-in-q2/articleshow/115524389.cms)

LIC's investments in Adani Group companies plummeted by Rs 8,566 crore after US prosecutors indicted Gautam Adani and others for bribery.
Adani stocks nosedived up to 24%, with significant losses in Adani Energy Solutions, Adani Enterprises, and Adani Ports.
The Adani Group denies the allegations, calling them baseless, while market reactions remain severe.

Source: Business News India, Times Now News, The Economic Times

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