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Foreign Portfolio Investors increase their stake in companies within the Adani Group following the Supreme Court’s clarification on accusations

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FPIs hike stake in Adani Group companies as SC clears air on allegations

Foreign portfolio investors and mutual funds have significantly increased their stake in Adani group companies, while the long-term investor LIC has booked profits in two Group companies. The latest shareholding pattern for 7 out of 11 Adani Group companies shows that FPIs have raised stakes in Adani Enterprises, Adani Ports, Adani Power, Adani Green Energy, Adani Wilmar, and Adani Total Gas.

This surge in FPIs holding comes after the Supreme Court ruled in January that there was no need for a separate investigation following allegations made by US short-seller Hindenburg Research against the Group. Rahul Ghose, CEO of Hedged.in, highlighted that despite high valuations, Adani Enterprises and Adani Ports present good investment opportunities for long-term investors due to their strong performance in recent quarters.

In the March quarter, FPIs increased their stake in Adani Ports to 13.80%, Adani Power to 15.91%, Adani Green Energy to 16.33%, Adani Enterprises to 11.45%, Adani Wilmar to 0.77%, and Adani Total Gas to 13.14%. Meanwhile, LIC reduced its stake in Ambuja Cements and ACC, although the value of its investment in all Adani Group companies rose by 56% to ₹61,210 crore as of March-end.

Adani Enterprises reported that Rajiv Jain’s GQG Partners and mutual funds have also increased their stake in the company, with Jain being one of the first investors in the Group companies post the Hindenburg report. The latest shareholding patterns indicate that GQG Partners have also invested in Adani Green Energy and Adani Energy Solutions, showcasing continued confidence in the Adani Group’s prospects.

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