Shareholders and customers of state-run Life Insurance Corp (LIC) should not be concerned about its exposure to Adani group, as the insurer is a diversified long-term investor in the market, a top government official told Reuters.
Also Read: Market turmoil due to fall in Adani group shares ‘storm in tea cup’ from macro eco view point: Finance Secretary TV Somanathan
“It has put out the information that their exposure in Adani Group companies should not be any concern for shareholders and policyholders,” Department of Investment and Public Asset Management Tuhin Kanta Pandey said.
“LIC has a well diversified portfolio and has its investments in many companies and the value of its investments keep changing. LIC is a long term investor in the market.”