LIC bought more shares of Adani Group, Congress again furious, Jairam Ramesh said – JPC’s demand is right
Despite the huge fall in Adani Group’s shares, the Congress has again become enraged over the increase in the stake by the country’s largest insurance company LIC. Congress General Secretary Jairam Ramesh has alleged in a statement that LIC is being forced to buy Adani’s shares. Along with this, he has once again demanded a JPC inquiry into the allegations leveled against Adani.
JPC demand through tweet
Jairam Ramesh said through a tweet post that despite the rapid fall in the stock value of Adani Enterprises, LIC has bought lakhs of its shares. This revelation further strengthens the demand for a JPC (Joint Parliamentary Committee) in the Adani scam related to the Prime Minister. He said that it is very clear from this that LIC is being forced to use the money of its policyholders to save the Prime Minister’s favorite business group from drowning.
अडानी एंटरप्राइजेज के स्टॉक वैल्यू तेज़ी से गिरने के बावजूद LIC ने उसके लाखों शेयर ख़रीदे। यह खुलासा PM से जुड़े अडानी महाघोटाले में JPC (संयुक्त संसदीय समिति) की मांग को और मजबूत करता है।
— Jairam Ramesh (@Jairam_Ramesh) April 11, 2023
इस मामले पर मेरा बयान। pic.twitter.com/iWPiVGTx3J
Jairam Ramesh said – continuous revelations after January 24
The Congress General Secretary wrote that since the questions raised in the Hindenburg report on Adani Group on 24 January 2023, new revelations are happening every day. He told that in June 2021, LIC’s stake in Adani Enterprises was just 1.32 per cent and in 18 months by the end of December 2022, it increased to 4.32 per cent. Please tell here that LIC has recently increased its stake in four companies of Adani. After which the insurance company’s stake in Adani Enterprises has gone up to 4.26 per cent. LIC has bought 3.75 lakh shares in this flagship company of the group during the January-March 2023 quarter.
LIC has increased stake in four companies
LIC has not only increased stake in Adani Enterprises, but also in three more Adani Group companies in the March quarter. These include Adani Transmission, Adani Green and Adani Total Gas. However, in the meantime, the stake of the insurance company in some companies has also decreased. Apart from Adani Ports, LIC has reduced stake in Gautam Adani’s cement companies ACC and Ambuja Cement.
LIC’s shareholding in Adani Group
Looking at the latest shareholding, LIC’s stake in Adani Transmission has increased from 3.65 per cent to 3.68 per cent, in Adani Green from 1.28 per cent to 1.35 per cent and in Adani Total Gas from 5.96 per cent to 6.02 per cent. In contrast, LIC’s stake in Adani Ports has now come down to 9.12 per cent from 9.14 per cent at the end of December 2022. The stake in Ambuja Cements has come down from 6.33 per cent to 6.29 per cent and in ACC from 6.41 per cent to 5.13 per cent.
