The Adani family is investing heavily in Adani Group companies. Promoters invested Rs 23,000 crore in 5 companies of the group during the June quarter.
The companies whose stakes have grown during the beginning quarters of this fiscal year are Adani Energy Solutions Ltd, Adani Enterprises Ltd, Ambuja Cements Ltd, Adani Power Ltd, and Adani Green Energy Ltd. On Friday, shares of Adani Group companies have seen a decline.
Adani Enterprises Ltd has fallen 2.72 percent on the last trading day, while Ambuja Cements Ltd’s share has closed with a decline of 2.5 percent.
Similarly, Adani Green Energy Ltd, Adani Ports, and Ambuja Cements Ltd have fallen by more than one percent.
According to a report, the promoters’ stake in Ambuja Cements Ltd increased by 3.59 percent to 70.33 percent in the June quarter.
In April itself, the company had informed that Gautam Adani Family has made an additional investment of Rs 8339 crore in the company to expand capacity.
In the recent past, the Adani family has invested Rs 20 thousand crore in the company.
Promoters’ Stakes Also Increased In These Companies
The promoter’s holding in Adani Enterprises Ltd increased by 2.11 percent to 74.72 percent during the June quarter. According to the report, the promoter has invested Rs 7600 crore in the company at an average price of Rs 3175 during the quarter.
The promoter’s stake in Adani Green Energy Ltd also increased by 1.15 percent to 57.52 percent in the first quarter of FY 2024-25.
The promoters’ stake in Adani Power Ltd increased by 0.96 percent in the June quarter. Now the promoters’ holding in the company has increased to 72.71 percent.
In Adani Energy Solutions Ltd too, promoters have increased their stake by 1.72 percent in the June quarter. With this increase, the promoters’ holding in the company has increased to 74.94 percent.
Why Are They Increasing The Stake?
Independent analyst says that increasing stakes in firms is a sign of promoters’ belief in the long-term growth prospects of the businesses.
It also shows the beliefs of the promoters that the value intrinsic to the business is greater than the value attributed to the market.
Foreign Investors Cut Their Stake
Foreign investors have drastically decreased their stakes in several Adani Group companies during June. Rajiv Jain’s GQG Partners also sold shares of group companies, ACC and Adani Power Ltd.
GQG sold about 34 lakh shares of Adani Power Ltd, worth Rs 244 crore. Sold 35.73 lakh shares of Ambuja Cements Ltd, worth Rs 240 crore.
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