Adani stock fall: LIC, SBI ‘lost over Rs 78k cr’ in market cap, FM still on ‘mute mode’, says Cong
New Delhi : The Congress Saturday questioned the “silence” of the Union finance minister and probe agencies after LIC and SBI “lost over Rs 78,000 crore” in market capitalisation of their shares due to exposure in Adani Group.
LIC and SBI continue to invest in the Adani group even after the Hindenburg research report alleged share price manipulation and financial misappropriation by the group, Congress general secretary Randeep Surjewala claimed.
“LIC is public money! Post Hindenburg Report, the value of LIC investment in Adani Group shares have fallen from Rs 77,000 Crore to Rs 53,000 crore — loss of Rs 23,500 crore.