Adani stocks tracker: How much money LIC, mutual funds and FIIs lost after Hindenburg attack

Following non-stop hammering of the Adani stocks in the wake of the Hindenburg report, the Life Insurance Corporation of India (LIC), mutual funds and foreign institutional investors (FIIs) have together lost over Rs 2 lakh crore in a span of just seven trading sessions.

Going by the latest shareholding pattern data of December quarter, the three of them owned Adani stocks worth around Rs 3,98,563 crore on January 24, 20323, a day before the controversy erupted. The value of their total investments in all the 10 stocks is now worth Rs 1,90,782 crore.

It translates into a heavy loss of Rs 2,07,781 crore or 52% during the period, shows market data.


LIC
State-owned LIC, which is amongst the largest institutional investors in Adani stocks, owns stake in 7 Adani Group stocks. Top bets include Adani Total Gas, Adani Ports and Adani Enterprises. In the last seven trading sessions, the PSU insurer has lost Rs 38,509 crore as the value of its investments decreased to Rs 42,759 crore.

Mutual funds
Mutual funds lost Rs 8,282 crore as the value of their investments went down to Rs 16,280 crore in seven days. Major MF holdings are in Ambuja Cements, Adani Ports, ACC and Adani Enterprises.

In the last four quarters, MFs have been consistently paring stakes every quarter in Adani Enterprises and Adani Ports.



FIIs
FIIs, on the other hand, have investments in all 10 Adani stocks but major bets are in Adani Total Gas, Adani Transmission, Adani Enterprises, Adani Green Energy, Adani Power and Adani Ports. Foreign investors lost Rs 1,43,991 crore in seven days with the value of their investments crashing down to Rs 148,742 crore.

In the last four quarters, FIIs were seen consistently selling shares in Adani Enterprises, Adani Green Energy, Adani Total Gas and Adani Transmission.



What should investors do?
The 106-page-long report by American short-seller Hindenburg has led to an unending pain for shareholders with the combined market capitalisation of Adani stocks halving to Rs 10 lakh crore.

Market participants seem to be pricing in the fact that the probability of any upside is at least significantly deferred if not completely erased in the medium term.

"To say that the issues are behind us probably will be little too early. We will have to wait and watch. Our advice to investors will be to be careful. Intraday trades are fine but you should wait before taking a fundamental position unless you are looking at ACC, Ambuja or maybe Adani Ports," Sudip Bandyopadhyay of Inditrade Capital said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)