Adani-OCCRP row: LIC loses over ₹1,400 crore in six Adani stocks in just one day

The Adani stocks are on a two day losing streak, after the Organised Crime and Corruption Reporting Project (OCCRP) published a report containing multiple allegations. On Thursday, nine out of ten Adani stocks ended in red dragging the market capitalisation by about ₹35,000 crore in a single day.

This fall has now pushed LIC which has investments in seven Adani stocks to lose more than ₹1,400 crore in just one day. The combined market value of the LIC holdings have fallen by ₹3,951 crore to ₹44,743.94 crore as on Friday's morning trading session against ₹48,694.65 crore on August 22.

Also Read: Allegations shake Adani stocks: Market cap takes a ₹35,000 cr hit

The OCCRP report had alleged that millions of dollars were invested in some publicly traded Adani stocks via opaque Mauritius funds. Adani group had denied the report, calling it 'recycled allegations'