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Business News/ Markets / Stock Markets/  Adani Power to Adani Enterprises: Mutual funds sold these Adani shares in May 2023
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Adani Power to Adani Enterprises: Mutual funds sold these Adani shares in May 2023

Mutual funds have trimmed stake in six out of 10 Adani group shares in May 2023, according to data compiled by PRIME Database

Mutual funds trimmed 0.02 per cent stake in Adani Enterprises during May 2023. (Bloomberg)Premium
Mutual funds trimmed 0.02 per cent stake in Adani Enterprises during May 2023. (Bloomberg)

Mutual funds buy or sell stock data for the month of May 2023 has become available now. As per the mutual funds data compiled by PRIME Database, asset management companies (AMCs) have trimmed stake in six out of 10 Adani group shares in May 2023. Those six Adani shares in which mutual fund offloaded stake during May 2023 are Adani Enterprises, Adani Ports, Adani Power, Adani Total Gas, Adani Transmission and Ambuja Cements.

As per the available data, mutual funds curtailed stake in Adani Enterprises from 1,16,50,252 Adani Enterprises shares or 1.02 per cent in April 2023 to 1,13,70,391 shares or 1 per cent in May 2023. This means mutual funds offloaded 0.02 per cent stake in the company after selling 2,79,861 Adani Enterprises shares during the month gone by.

 

In Adani Ports, fund managers cut down their stake in this Adani share from 6,83,90,343 shares or 3.17 per cent in April 2023 to 6,54,90,803 shares or 3.03 per cent in May 2023. This means domestic fund houses trimmed their stake in this Adani share by selling off 0.14 per cent stake in the company or 28,99,540 Adani Ports shares.

 

As per the data compiled by PRIME Database, domestic fund houses reduced shareholding in Ambuja Cements from 11,61,78,999 shares or 5.85 per cent in April 2023 to 11,29,70,565 shares or 5.69 per cent in May 2023. This means, mutual funds cut down their stake in this Adani group share by 0.16 per cent by selling off 32,08,434 company shares.

 

In Adani Green Energy, mutual funds were holding 13,95,738 shares in April 2023 that nosedived to 13,93,590 shares in May 2023, which means mutual funds sold out 2,148 Adani Green shares during May 2023.

 

In Adani Total Gas Ltd, domestic AMCs were holding 13,42,952 shares in April 2023 that went down to 13,39,263 shares in May 2023. This means, mutual funds sold out 3,689 Adani Total Gas shares in the month gone by.

Likewise, in Adani Transmission Ltd, mutual funds trimmed stake from 13,17,111 shares in April 2023 to 13,16,577 shares in May 2023, selling out 534 company shares.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 15 Jun 2023, 12:33 PM IST
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