Domestic investors raised their stakes in five Adani group companies, including Adani Green and Adani Total Gas in the December quarter, according to news agency PTI. Adani Wilmar and cement firms Ambuja and ACC are other firms in which stakes have been raised, the news agency reported citing an analysis of shareholding data with the BSE.
Mutual funds marginally increased or maintained their shareholding across all entities, barring Adani Ports & Special Economic Zone Ltd, and Adani Energy Solutions Ltd in the quarter.
With this, the total shareholder base of the group rose 5 per cent to 68.82 lakh, with a substantial increase seen in Adani Total Gas and Adani Energy Solutions, the agency reported.
The Domestic Institutional Investors (DIIs) hiked their stakes in Adani Green to 1.67 per cent in the third quarter from 1.36 per cent in the preceding quarter. They raised ownership in Adani Total Gas to 6.26 per cent from 6.02 per cent in the September quarter.
Their stake in Adani Wilmar, the FMCG arm of the conglomerate, rose to 0.41 per cent from 0.01 per cent in the preceding quarter, in Ambuja to 9.19 per cent from 9.07 per cent, and in ACC to 10.72 per cent from 10.27 per cent.
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The DIIs, however, reduced their ownership in Adani Enterprises Ltd to 3.95 per cent during the period under review from 4.26 per cent in the September quarter.
The stake in Adani Ports was trimmed to 8.37 per cent from 9.72 per cent. Further, the shareholding of DIIs remained unchanged in Adani Power and Adani Energy Solutions during the quarter, the agency said.
The Foreign portfolio investors (FPIs), however, cut their stakes in 5 group firms - Adani Power Ltd, Adani Total Gas Ltd, ACC Ltd, Adani Energy Solutions Ltd, and Adani Green Energy Ltd - in the December quarter.
Mutual funds, on the other hand, trimmed stakes in four of the group stocks namely Adani Ports and Special Economic Zone Ltd, Adani Energy Solutions Ltd, New Delhi Television Ltd, and Adani Total Gas Ltd.
In December alone, 10 Adani Group companies added close to Rs 3 lakh crore in market capitalisation with the group market cap reaching Rs 14.2 lakh crore at December-end. The market cap crossed the Rs 15 lakh crore mark on January 3 this year after the clean chit given by the Supreme Court in the Hindenburg case.
A total of eight Adani group stocks, led by Adani Green Energy Ltd, Adani Total Gas, and Adani Power had rallied 18-60 per cent in the December quarter, with the remaining two ACC Ltd and Adani Wilmar Ltd delivering single-digit returns.
Adani stocks saw a rally as the SC in its verdict on a batch of petitions related to the Adani-Hindenburg case rejected the reliance on OCCPR report and any third-party organisation, saying such reports without any verification could not be relied upon as proof.