In August, mutual funds purchased 1.6 crore shares of Adani Energy Solutions, spending about ₹1,330 crore, according to Nuvama Institutional Equities. Other Adani Group stocks that saw significant interest included Adani Ports and Special Economic Zone (APSEZ), Ambuja Cements, and ACC.
SBI Mutual Fund was a major buyer of Adani Energy, acquiring 73.73 lakh shares for around ₹743 crore. Tata Mutual Fund also invested in Adani Energy, buying 24.75 lakh shares at an estimated cost of ₹249 crore.
The report noted that Nippon Mutual Fund included APSEZ among its new investments, though specific details were not provided. HDFC Mutual Fund also purchased APSEZ, but the exact details were not disclosed.
Invesco Mutual Fund added 11.20 lakh shares of Adani Enterprises for ₹338 crore and 38.93 lakh shares of Ambuja Cements at ₹240 crore.
On the other hand, Aditya Birla Sun Life Mutual Fund reduced its holdings in ACC by selling 6.72 lakh shares for ₹157 crore. As of June 30, 2024, it held a 1.54% stake in ACC.
Adani Energy Solutions shares have underperformed over the past year, with a 15% return compared to the Nifty’s 25%. So far in 2024, the stock price has fallen by 7%. In comparison, Adani Ports, Adani Enterprises, Ambuja Cements, and ACC have seen returns of 71%, 18%, 41%, and 24% respectively over the past year.
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