Adani stocks’ surge helps GQG Partners make ₹10,000 crore from investment in less than 3 months

The Rajiv Jain-led GQG Partners’ ₹15,446 crore investment into four Adani Group companies has generated more than 65% returns in less than three months. The value of this investment now stands at around ₹25,515 crore, up by a staggering ₹10,069 crore, driven by a sharp rally in Adani group stocks.

GQG Partners, a US-based global equity investment boutiques, had infused ₹15,446 crore into four Adani Group companies on March 2, 2023, when the Gautam Adani led conglomerate was under regulatory scanner over violation of market norms, as alleged by a report from US-based short-seller Hindenburg Research.

Also Read: Adani stocks continue to dazzle as most of them hit upper circuits on SC panel relief

GQG Partners had infused ₹5,460 crore for 38,701,168 equity shares in Adani Enterprises, purchased 8.86 crore equity shares for ₹5,282 crore in Adani Ports & SEZ, bought 2.84 crore equity shares for ₹1,898 crore in Adani Transmission, and 5.56 crore equity shares of Adani Green Energy for ₹2,806 crore, on March 2.

The value of all these investments have risen exponentially as of May 23 with the recent rally witnessed in Adani group stocks after it got a clean chit from the Supreme Court panel. 

As on May 23, GQG Partners’ stake in Adani Enterprises was valued at ₹10,589 crore and its investment in Adani Ports now stands at ₹6,964 crore. 

GQG Partners’ 5,56,00,000 shares in Adani Green Energy are now worth ₹5,501.62 crore and those in Adani Transmission are valued at ₹2,461 crore, as of Tuesday's trade.

The SC-appointed panel looking into allegations made by Hindenburg Research found no evidence of a ‘regulatory failure’ by the group.

The 173-page report said the committee found "no evident pattern of manipulation" in the sharp stock price rise in billionaire Gautam Adani's companies that can be attributed to "any single entity or group of connected entities."

Read here: ‘Not proven’ at this stage: SC panel on Adani-Hindenburg

On Tuesday, Adani group shares continued their upward trajectory on the back of this relief with most of them hitting their upper circuit.

Shares of Adani Enterprises soared over 17% to ₹2,736.15, Adani Power shares hit 5% upper circuit of ₹260.40, Adani Transmission opened at a 5% upper circuit of ₹866.60 and Adani Wilmar also hit 10% upper circuit of ₹488.80, 

Adani Green Energy hit 5% upper circuit of ₹989.50 and Adani Total Gas at 5% upper circuit of ₹757.40, while shares of Adani Ports jumped almost 8% in early trade.

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