LIC’s Investment Policy In Place: LIC Chairperson On Adani Stocks
LIC Chairperson Siddhartha Mohanty discussed the life insurance company’s approach to handling the onset of the Hindenburg report and the subsequent months, in a conversation with a media house regarding LIC’s exposure to Adani Group stocks in the past few months.
Expounding on LIC’s investment philosophy, Mohanty stated that the company does not adhere to a single stock or script. Instead, the company’s investment policy involves evaluating various factors, such as monitoring the overall growth of their portfolio, the fund’s size, and comparing the growth or decline of the total investment portfolio, among other parameters.
Mohanty added that as long as the portfolio continues to grow and policyholders receive satisfactory returns, there should be no cause for concern. He noted that despite fluctuations in one or two stocks, the overall investment policy remains intact, and people should have confidence in it.
Regarding LIC’s specific investment in Adani, Mohanty clarified that the shares purchased by the company were acquired prior to the release of the Hindenburg report. He confirmed that LIC neither bought nor sold any shares in Adani Group stocks following the report’s release.