Adani Group Stocks: GQG Partners, the company of NRI investors Rajeev Jain, who bought Adani Group’s stocks and brought it out of the crisis after the Hindenberg Research report, has made a profit in the second quarter of the financial year 2024-25 between July to September. Adani has further increased its stake in four companies of the group. GQG Partners has increased its stake in Adani Group’s flagship company Adani Enterprises to Adani Energy Solutions, Adani Green Energy and Ambuja Cement.
GQG Partners increases stake in Adani stocks
GQG Partners’ stake in Adani Enterprises has increased from 3.4 percent to 3.52 percent in the second quarter. GQG Partners’ stake in Adani Energy Solutions has also increased to 4.7 percent as compared to 4.7 percent in the first quarter. The stake of Rajin Jain’s company in Adani Green Energy has increased to 4.21 percent which was earlier 4.16 percent. GQG Partners has also increased its stake in Ambuja Cement from 1.35 percent to 2.05 percent. GQG Partners has reduced its stake in Adani Ports and Adani Power during this period.
Promoters reduced stake in 2 companies
During the July to September quarter, Adani Group has increased its stake in Adani Enterprises from 74.72 percent to 74.89 percent. Promoters have also increased their stake in Adani Green Energy from 57.52 percent to 60.94 percent. The promoters have also increased their stake in Adani Power from 72.71 percent to 74.96 percent. However, promoters have reduced their stake in Ambuja Cement from 70.33 percent to 67.57 percent and in Adani Energy from 74.94 percent to 69.94 percent.
GQG Partners came out of the crisis
In January 2023, after short seller Hindenburg Research came out with a report against Adani Group’s stocks, the group’s shares had fallen by 85 percent. Then GQG Partners co-founder Rajiv Jain had rescued the group from the crisis by purchasing shares of four Adani Group companies for Rs 15446 crore. Due to Rajeev Jain, investors from India and abroad regained their confidence in the Adani Group companies and after that, GQG Partners earned huge profits by investing in Adani Group stocks and all the listed stocks of Adani Group except two. Managed to overcome the old high.
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