Adani Group These days it is once again in the headlines. In fact, the market is in turmoil after Deloitte stepped down as auditor of APSE. At the same time, the capital market regulator is due to submit its report on the Adani Group soon. Due to this, the shares of Adani Group companies are witnessing volatility. Apart from all this, US-based investment firm GQG Partners’ steady increase in its stake in group companies is also in the headlines. Now again US-based investment firm GQG Partners has increased its stake in Adani Ports and Special Economic Zone (APSEZ) to more than five percent. Ignoring market concerns about billionaire Gautam Adani’s group, investment firms are betting on it.
38,700 crore investment in group companies
Florida-based GQG increased its stake in APSE from 4.93 percent to 5.03 percent through a bulk transaction, according to a stock market filing. GQG now holds stakes in five of the 10 Adani Group companies. It had bought a 7.73% stake in Adani Power Limited on August 16. The latest investment comes days after Deloitte stepped down as Apcage’s auditor. GQG has so far invested Rs 38,700 crore in Adani Group companies.
Adani Group’s market valuation increased by Rs 45,200 crore.
The market valuation of industrialist Gautam Adani’s group companies rose by Rs 45,200 crore on Friday. This is due to the increase in the shares of all 10 listed companies of the group on the confidence of global investors. According to stock market data, the total market value of the 10 Adani group companies stood at Rs 10.96 lakh crore on Friday. At the close of trading on Thursday, the market valuation of all the companies was Rs 10.51 lakh crore. Market experts say that the reason for the increase in the share prices is the increase in the interest of global investors. Investors seem to have put Deloitte’s recent woes behind them. A head of research at a domestic brokerage firm said, “The Adani Group shares have seen a rally in the last few days. The market has analyzed emerging trends and available data. “Furthermore, fund raising remains strong at the collective level. Shares of all 10 listed companies of the Adani group closed on good numbers on Friday. Among them, Adani Power 6.34 per cent, Adani Green Energy 6.7 per cent and Adani Energy Solutions gained 6 percent. Shares of the group’s flagship company Adani Enterprises gained 3.93 percent, giving it a market value of Rs 2,93,789 crore.
Acquired 8.1% stake in Adani Power.
US investment firm GQG Partners and some other investors have bought 8.1% stake in Adani Power, an Adani Group company, with an investment of $1.1 billion. According to data available with the stock market, GQG Partners and other investors have acquired the stake by buying a bulk of 31.2 crore shares. This is one of the biggest share buying deals from the market. The deal was made at an average price of Rs 279.17 per share. Thus, the Adani family, the promoters of the company, got $1.1 billion or about Rs 9,000 crore from the sale of 312 million shares. Before the deal, the Adani family held a 74.97 percent stake in Adani Power.
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