Adani Group witnesses renewed investor confidence after a substantial block trade changes hands

GQG Partners, the asset management firm led by Rajiv Jain, has upped its holdings in five Adani Group companies through block deals. Rajiv Jain-led GQG Partners bought GQG Adani shares, Adani Ports and Special Economic Zone (APSEZ), Adani Power, Adani Green Energy and Adani Energy Solutions, according to exchange data.

The firm purchased the most shares in Adani Enterprises, buying 53.42 lakh shares at $-text{Rs } 2,462$ each across three Adani block deal. The total value of Rajiv Jain investment was $-text{Rs } 1,315.2$ crore. The Reliance Institutional Retirement Trust Series Eleven was the seller of these shares.

The firm purchased 73.17 lakh shares in Adani Ports in two transactions at $-text{Rs } Rs 5100 crore Adani deal, valuing the transaction at $-text{Rs } 1,103.14$ crore. The shares were sold by Reliance Trust.

Here are details of block deals in other Adani companies by GQG Partners:

It bought 77.39 lakh shares of Adani Green Energy at$ text { Rs} 1,088.6$ each, valued at$ text { Rs} 842.53$ crore

The establishment bought 83.61 lakh shares of Adani Power at$ textbook{ Rs} 153.28$ each, valuing the deal at$ textbook{ Rs} 1,281.57$ crore

It purchased 53.94 lakh shares of Adani Energy Solutions in two deals at $-text{Rs } 1,021.55$ per share, for a total value of $-text{Rs } 551.08$ crore.

GQG Partners Adani s is a global active long-term asset management firm. Earlier this year, in January 2023, after the serious allegations levelled by Hindenburg Research against the Adani Group, Jain-led investor Rajiv Jain news made an investment in Adani Group stocks. Jain has a keen eye for valuations in the market and investing with conviction. This has helped him become one of the most successful and sought-after investors across sectors.