Adani Enterprises, Adani Green, Adani Transmission: MFs upped stakes in Adani shares in June

Three Adani group stocks namely Adani Enterprises Ltd, Adani Green Energy and Adani Transmission Ltd were among top 10 mutual fund (MF) buys in June. Adani Ports and Special Economic Zone Ltd (Adani Ports), on the other hand, saw MFs reducing exposure a bit for the month gone by, data compiled by ICICI Securities suggest.

Adani Green Energy topped the MF buy chart, as the institutional investor category bought about 4 lakh additional shares in the Adani group company to 18 lakh shares as on June 30 against 14 lakh shares as on May 31. Mutual funds owned Rs 167 crore worth Adani Green Energy shares at June-end against Rs 136 crore worth shares at May-end.

Also read: Nifty, Sensex trade flat: Reliance, SBI, ONGC among top gainers, HUL, Infosys top losers; Delta Corp, Paytm, other buzzing stocks on July 12, 2023

In the case of Adani Transmission, domestic funds owned 15 lakh shares as on June 30 against 13 lakh shares as on May 31. Mutual funds owned Rs 118 crore worth Adani Transmission shares at June-end against Rs 102 crore worth shares at May-end.

In Adani Enterprises, mutual fund holding stood at Rs 3,169 crore in June against Rs 2,835 crore in May. Mutual funds held 1.33 crore Adani Enterprises shares at June-end against 1.14 crore shares at May-end.

Meanwhile, mutual funds trimmed stake in Adani Ports to 5.86 crore shares from 6.55 crore shares, with value of their holding in Adani Ports falling to Rs 4,334 crore from Rs 4,839 crore.

A total of 10 Adani group stocks commended a market capitalisation (m-cap) of Rs 10,08,460 crore at the end of June. Shares of Adani Enterprises were down 4.4 per cent for the month while those of Adani Green fell 3.84 per cent for the same period. Adani Transmission also declined 1.3 per cent, hinting at value buying by mutual funds in the three Adani stocks amid board-based rally in the market. Shares of Adani Ports were up 0.22 per cent for the month.

Also read: Hot stocks on July 12, 2023: Adani Enterprises, Delta Corp, Suzlon Energy, Wipro and more

Also read: RIL, ICICI Bank among shares that MFs bought in June; Tata Motors stock on sell radar