LIC is sitting on 100% gains on its stock and bond investments in Adani Group companies the total value of which is ₹56,000 crore compared to an investment of about ₹28,000 crore, a senior LIC executive told ET.

An over 21% fall in Adani Ports shares in the last two trading days of the week gone by resulted in over Rs 3,000 crore of losses for LIC. In Adani Enterprises, the flagship company of the group, LIC incurred a loss of close to Rs 3,300 crore due to a 20% fall in the share price on Wednesday and Friday. Besides these two companies, the countrys largest life insurer holds significant stake in Adani Total Gas, ACC and Ambuja Cements.

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While Adani Total Gas, Adani Energy, and Adani Transmission shares plunged 20%-the lowest levels of the day, Adani Ports and Adani Enterprises dropped 16% and 19%, respectively. Adani Power and Adani Wilmer shares dropped 5% each.

Shares of Adani Transmission, Adani Green Energy, and Adani Total Gas were locked in the 20% lower circuit. Adani Ports and Special Economic Zone hit a 2-year low, and Adani Enterprises a 5-month low. Describing Hindenburg's 32,000-word report as maliciously mischievous and unresearched, Adani Group threatened to take punitive action against the firm in both US and Indian courts.

The stock quoted a 52-week high price of Rs 2784.95 and a 52-week low of Rs 1733.3.

In the last two trading sessions since the release of the report, which has been described as "maliciously mischievous and unresearched" by billionaire Gautam Adani's team, the market capitalisation erosion has been around Rs 4 lakh crore. Wednesday's crash itself wiped off Rs 1 lakh crore from Adani stocks. The selloff deepened on Friday, despite the Ahmedabad-based diversified conglomerate denying allegations and threatening court cases, with three out of 10 stocks hitting record low levels.

It looked like a ‘Black Friday sale on Dalal Street as traders dumped Adani Group stocks relentlessly with many counters hitting multi-month and multi-year lows.

Ahead of the launch of the mega Rs 20,000 crore-FPO of Adani Enterprises on Friday, the diversified conglomerate raised around Rs 6,000 crore over 30 institutional investors, but interestingly, the list showed not a single mutual fund participated in the anchor book.

Shares of all the 10 Adani Group stocks, including the recent acquisition NDTV, were trading lower after Hindenburg revealed that it has been short-selling Adani Group companies through US-traded bonds and non-Indian-traded derivatives, along with other non-Indian-traded reference securities.

On the technical charts, the 200-day moving average of the stock stood at Rs 2322.33.

A total of 1,278 shares changed hands on the counter till 11:17AM (IST)

A total of 1,641 shares changed hands on the counter till 11:02AM (IST).

A total of 1,702 shares changed hands on the counter till time (IST).

Adani Enterprises late November announced the initiation of a much-awaited follow-on public offer (FPO) to raise as much as ₹20,000 crore ($2.5 billion) from retail and institutional investors, riding piggyback on the meteoric 18-fold jump in its stock prices in the last five years. This will be the largest such issuance in India to date.

A total of 2,394 shares changed hands on the counter till time (IST).

“In the majority of the portfolio stocks that we are carrying, we carry good long-term conviction. Even if they do not perform for a couple of years, on a compounded basis, they would perform eventually. We have seen our portfolios compounding in the vicinity of around 25% plus. We are happy with that part of it. Sometimes, some stocks do not appreciate but eventually they catch up in the subsequent period.”

Promoters held 56.68 per cent stake in the company as of 30-Sep-2022, while FIIs owned 22.63 per cent, DIIs 18.85 per cent.

A total of 2,120 shares changed hands on the counter till 12:14PM (IST)

Adani Enterprises has a solid asset base and good cash flows despite there being debt on the balance sheet. Adani Wilmar has delivered stellar returns. Even as the space is getting overcrowded, there is room for upside," said Bathini.

"In cement, mny of the groups are expanding very rapidly after the entry of Adani. We could expect that ACC, Ambuja will also start expanding more rapidly. In the next two years, we will see significant supply and demand increases at a steady pace. So pricing and margins could come under pressure. Cyclically they will keep on moving up and down but long-term directionally, I am not playing cement at this stage."

On the technical charts, the 200-day moving average of the stock stood at Rs 2294.78.

“We have a list 10 stocks which are a mix of largecaps and smallcaps. If I were to pick one stock, I will pick PNC Infrastructure Company. This has a current order book of about Rs 19,000 crore, which gives them revenue visibility of about almost 2.5 times their current earnings.”

A total of 2,769 shares changed hands on the counter till 12:02PM (IST).

As of 30-Sep-2022, promoters held 50.05 per cent stake in the company, while FIIs held 12.11 per cent and domestic institutional investors had 9.38 per cent.

A total of 2,080 shares changed hands on the counter till 11:06AM (IST)

Adani Group stocks have given fabulous returns to investors this year with four out of seven stocks of the giant giving multibagger returns going up to 200%. In the last one year, the group's total market cap has also nearly doubled to Rs 18.6 lakh crore in mid-December as compared to Rs 9.6 lakh crore in 2021.

“Overall, given the valuations, the interest rate paradigm next year should be similar to this year, in terms of a single digit return expectation. It will all depend on sector allocations and specific stocks. This year, if you were in the right stocks, you did very well. If you were in the wrong ones, you did quite badly. A similar thing should repeat next year.”

On the technical charts, the RSI of the stock stood at 59.89.

A total of 1,631 shares changed hands on the counter till time (IST).

On the technical charts, the 200-day moving average of the stock stood at Rs 2267.31.

The companys top management includes Mr.Sridhar Balakrishnan. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2022, the company has a total of 19 Crore shares outstanding.

The assets put together have a cement manufacturing capacity of 9.4 million tonnes per annum (MTPA), including clinker capacity of 6.7 million tonnes and thermal power plants of 280 megawatts and are situated in Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.

India has differentiated itself. And I like to call India a cleaner white shirt in a dirty shirt world. I would like to see the investment cycle come back. We are seeing people still cautious on the investment cycle. And we are still too much driven by consumption as the core of our economy.

A total of 14,094 shares changed hands on the counter till 12:02PM (IST)

The cooling of fuel costs and the Union government’s construction spree in the run-up to the 2024 general elections are expected to help margins and volumes.

“If Nifty manages to give a breakout at 18,500 level, it has the potential to reach up to 19,000 to 19,400 levels. If you look towards the overall longer degree, on the monthly charts it is very good. We can see these particular indices giving a breakout of a trend line which gives a very strong sign on the technical front.”

The stock quoted a 52-week high of Rs 2784.95 and a 52-week low of Rs 1900.5.