Adani: How Much India's Largest Life Insurer LIC Gained Or Lost In Adani Group Stocks In Q2FY24?

India's largest life insurer, Life Corporation of India (LIC) owns significant shares in conglomerate Adani Group-backed listed stocks right from port-energy-to-cements. LIC holds stocks like Adani Ports, Adani Enterprises, Adani Green Energy, Adani Total Gas, Adani Energy Solutions, ACC, and Ambuja Cements.

However, during Q2FY24, in the five Adani-named stocks, LIC lost substantial money in the Group's flagship firm Adani Enterprises and Adani Total Gas. While LIC gained in Adani Ports, Adani Green, and Adani Energy.

LIC did not buy neither sold any Adani shares in Q1 and Q2 of FY24.

Adani Ports:

LIC in Adani's port flagship company holds 19,59,26,194 equity shares or 9.07%, which will be the highest stake among other holdings of Adani stocks.

LIC's shareholding is valued at Rs 14,476.98 crore on Adani Ports share price of Rs 738.90 apiece by the end of June 30, 2023. This increased by Rs 1,672.24 crore by the end of the September 2023 quarter, withholding valuing at Rs 16,149.22 crore. Adani Ports stood at Rs 824.25 apiece on September 29, 2023.

Currently, the stock price is around Rs 809.65 apiece.

During Q2FY4, Adani Ports PAT grew by 4.2% YoY to Rs 1,747.8 crore, while revenue jumped by 27.6% YoY to Rs 6,646.6 crore. APSEZ recoded its highest ever six-month cargo volumes at 202.6 MMT in 1H FY24, reflecting a 14% Y-o-Y jump; this growth is led by containers (+18%), dry cargo (+10%) and liquids (21%). Mundra Port handled 3.57 Mn TEUs in H1 FY24, which is 15% higher than its closest competitor.

Adani Enterprises:

In the flagship company, Adani Enterprises, LIC's shareholding stood at 4,82,53,154 equity shares or 4.23% of the company as of September 30, 2023.

However, unlike Adani Ports, LIC has made slight losses in Adani Enterprises. The insurer's holding was valued at Rs 12,023.72 apiece when AEL's share stood at Rs 12,491.80 apiece on June 30. But dropped to Rs 11,639.38 crore as of September 30 when AEL shares stood at Rs 2,412.15 apiece. This would be a decline of Rs 384.34 crore in LIC's shareholding value in AEL.

Currently, AEL shares are at Rs 2,213.20 on BSE with a market cap of Rs 2,52,305.05 crore.

Adani Total Gas:

As of September 30, 2023, LIC held 6,61,87,065 equity shares or 6.02% in Adani Total Gas, making it the second largest holding in Adani Group.

When Adani Total Gas stood at Rs 653.90 apiece as of June 30, LIC's shareholding in the company was worth Rs 4,327.97 crore but declined by Rs 267.4 crore by the end of September 30 as the stock declined to Rs 613.50 apiece, taking LIC's holding value to Rs 4060.58 crore.

Currently, Adani Total Gas stood at Rs 542.15 apiece on BSE with a market cap of Rs 59,626.20 crore.

Adani Energy Solutions:

In Adani's energy solutions provider, LIC's shareholding stood at 4,10,81,207 equity shares or 3.68% as of September 30, 2023. LIC's holding stood at Rs 3,152.98 crore when Adani Energy shares stood at Rs 767.50 apiece on June 30.

And, the stock price gained to Rs 809 apiece on September 30, raising the shareholding value of LIC to Rs 3,323.5 crore by the end of Q2. This would be an increase of Rs 170.5 crore for LIC.

Currently, Adani Energy's share price stands at Rs 759.10 apiece with an m-cap of Rs 84,677.05 crore.

Adani Green Energy:

This would be yet another energy stock held by LIC in the Adani Group. The insurer's shareholding stood at 2,14,70,716 equity shares or 1.36%.

Adani Green shares stood at Rs 945.60 apiece on June 30, which took LIC's shareholding value to Rs 2,030.27 crore. Although the stock saw a few hiccups during the Q2 crossing to Rs 1,000 mark and pulling back as well, Adani Green shares stood at Rs 988.20 apiece, which would take LIC's shareholding value to Rs 2,122 crore.

This would be an increase of Rs 91.5 crore during Q2 for LIC in Adani Green shares.

Currently, Adani Green shares are at Rs 939.65 apiece with a market cap of Rs 1,48,843.61 crore.