Adani Group Stocks: The stock market regulator SEBI is investigating against the Adani group. The group has been under constant political attack since the Hindenburg Research report came out. Despite this, Adani group companies listed on the stock exchange have started wooing investors. Mutual funds have been found shopping for shares of Adani group companies.
The purchase of shares of Adani Enterprises, the flagship company of Adani Group, has seen a jump of 16.8 per cent month-on-month. Kotak Mutual Fund, Invesco and NJ Mutual Fund have bought shares of Adani Enterprises. According to data from Motilal Oswal, 17 mutual funds have exposure to Adani Enterprises stock. There has also been an increase in the holding of mutual funds in the stock of Adani Ports.
Kotak Mutual Fund, LIC Mutual Fund and Sundaram have invested in the stock of Adani Wilmar, the FMCG company of Adani Group. However, Nippon India Mutual Fund has withdrawn its investment from Adani Total Gas. Apart from this, the mutual fund has also exited from the group’s cement company ACC. While Invesco and Baroda PNP Paribas have invested in the stock of Ambuja Cements.
After Hindenburg’s research report came out, there was a big fall in the stocks of all the Adani group companies listed on the stock exchange. After the news came to the fore, the stocks of the group had fallen by 85 percent. But now the shares of Adani Group have started stabilizing. Although the shares of all the companies of the group are trading very low from their highest price in a year. Like Adani Enterprises is trading down 55 percent, Adani Green Energy 68 percent, Adani Transmission 80 percent, Adani Total Gas 81 percent, Adani Power 45 percent and Adani Wilmar 55 percent.
Mutual funds had invested only 0.9 per cent in Adani Group stocks till March 2023 out of their total assets of $182 billion. But in April, he has increased investment in the stocks of the group. According to data from Nuwama Wealth Management, Mirae Investment Managers and HSBC Asset Management had invested in group companies in the month of March. Both the financial institutions bought 7 lakh shares of the two companies of the group. On the other hand, according to the data, retail investors have increased their stake in 8 out of 10 Adani companies listed on the stock exchange in the fourth quarter of the financial year 2022-23.
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