• Source:JND
Add as a preferred

Adani Group Stocks: Ace investor Rajeev Jain's GQG Partners increased its stake in six Adani Group companies by around Rs 8,300 crore or $1 billion in the March quarter. These six companies are Adani Enterprises Limited, Adani Ports and SEZ, Adani Energy Solutions Limited, Adani Green Energy Limited, Ambuja Cement Limited, and Adani Power Limited.

The extent of stake in what

GQG increased its stake the most in Adani Energy Solutions by Rs 2,316 crore during the March quarter. Following the investment, the stake in Adani Power and Adani Enterprises was increased by Rs 2138 crore and Rs 1555 crore respectively. GQG purchased shares worth Rs 1,369 crore in Adani Green Energy and Rs 886.10 crore in Adani Ports. In the same vein, GQG increased its stake in Ambuja Cement by purchasing additional shares worth Rs 33 crore.

GQG Stakes in Adani stocks

GQG currently holds a 4.53 percent stake in Adani Energy (worth Rs 5,183 crore), a 3.38 percent stake in Adani Enterprises (worth Rs 12,298 crore), a 4.16 percent stake in Adani Green Energy (worth Rs 12,067 crore), Adani Ports (worth Rs 11,792 crore) is 4.07 percent stake. 5.2 percent stake in Adani Power (worth Rs 10,719 crore) and a 1.9 percent stake in Ambuja Cement (worth Rs 2,260 crore).

Earlier last year, when the shares of Adani Group crashed badly after the Hindenburg report, GQG showed confidence in Adani Group's shares. The value of GQG Partners' stake in six Adani Group companies by the March 2024 quarter has increased by 33 percent to Rs 54,300 crore compared to the previous quarter.