The mayhem in Adani Groups’ shares in the last two trading sessions has eroded nearly Rs 24,000 crore of value for state-owned Life Insurance Corporation (LIC) and mutual funds (MFs).
This is an indirect hit for small investors channeling their investments through LIC and MFs.
Overall, the Adani group stocks have seen an erosion of Rs 4.18 trillion (around $50 billion) of market value .
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