Adani stock fall: LIC, SBI ‘lost over Rs 78k cr’ in market cap, FM still on ‘mute mode’, says Congress
Summary
The Senator declared that the commercial center capitalization of SBI stocks fell through method of method for an amazing Rs 54,618 crore in view of the report’s distributing. Furthermore, he said that the SBI and various banks have a home loan exposure of Rs 81,2 hundred crore to the Adani Gathering. Surjewala bewildered why SBI Workers Annuity Asset and SBI Life persevered to make speculations Rs 225 crore in Adani Gathering.
The “quiet” of the Association finance priest and examination associations transformed into pondered with the guide of utilizing the Congress on Saturday after LIC and SBI “lost over Rs 78,000 crore” in commercial center capitalization in their stocks in light of exposure withinside the Adani Gathering. Congress countrywide secretary Randeep Surjewala said that LIC and SBI have put away their speculations withinside the Adani association anyway the Hindenburg concentrates on report’s charges of rate control and financial misappropriation with the guide of utilizing the organization.
“LIC is a public asset! Following the booklet of the Hindenburg Report, the expense of the LIC’s financing in Adani Gathering stocks diminished from Rs. 77,000 crore to Rs. 53,000 crore, addressing an absence of Rs. 23,500 crore.
“LIC stocks have also lost Rs 22,442 billion. Surjewala asked why LIC endured to make speculations Rs 300 crore withinside the Adani Gathering.
1/3#LIC is PUBLIC MONEY!
Post #HindenburgReport , Value of #LIC investment in Adani Group shares have fallen from ₹77,000 CR to ₹53,000 CR- loss of ₹23,500 CR.
Also,LIC shares have lost ₹22,442 CR
Why is LIC still investing ₹300 CR in Adani Group?https://t.co/uJDgTa2l0R
— Randeep Singh Surjewala (@rssurjewala) January 28, 2023
The Senator stated that the commercial center capitalization of SBI stocks fell through method of method for an astounding Rs 54,618 crore as a result of the report’s distributing.
Furthermore, he said that the SBI and various banks have a home loan exposure of Rs 81,two hundred crore to the Adani Gathering.
2/3
After #HindenburgReport , SBI share’s “market cap” has declined by a whopping ₹ 54,618 CRAlso, Loan Exposure of #SBI and other Banks to Adani Group is ₹ 81,200 CR.
QUESTION IS..
Why are SBI Employees Pension Fund & SBI Life still investing ₹ 225 CR in Adani Group?— Randeep Singh Surjewala (@rssurjewala) January 28, 2023
Surjewala asked why SBI Workers Benefits Asset and SBI Life continued to make speculations Rs 225 crore in Adani Gathering.
3/3
Between Jan. 24 and 27 i.e in 3 days, #SBI & #LIC have lost “market cap” of ₹ 78,118 CR in value of their shares alone!The Loan Exposure of SBI & Invest Value decline of LIC in Adani Group is in addition thereto.
YET..
RBI,
SEBI,
ED,
SFIO,
CBI,
FM remain on “mute” mode.— Randeep Singh Surjewala (@rssurjewala) January 28, 2023
The Rajya Sabha MP likewise declared that among January 24 and January 27, the commercial center expense of SBI and LIC’s stocks on my own diminished through Rs 78,118 crore.
“What’s more, SBI’s FICO rating exposure and LIC’s drop in subsidizing cost withinside the Adani Gathering. In any case, the RBI, SEBI, ED, SFIO, CBI, and FM stay in “quiet” mode “As per Surjewala’s tweets.
The head of the Congress previously said that, in better places, “the high pastor could were mentioned to make sense of, the money clergyman could were terminated, and a whole examination could were embraced.”
The Adani Gathering is blamed for controlling the stock rate and committing monetary anomalies, predictable with the Hindenburg Report. The Adani Gathering has discredited the allegations and characterized them as an endeavor to insult the enterprise sooner than it answers a public matter.
