Adani group stocks: Mutual funds reduced stake in Adani Enterprises to 1,13,70,391 shares or 1 per cent in May from 1,16,50,252 shares or 1.02 per cent in April. 
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Adani group stocks: Mutual funds reduced stake in Adani Enterprises to 1,13,70,391 shares or 1 per cent in May from 1,16,50,252 shares or 1.02 per cent in April. Adani Enterprises Ltd, Adani Ports & SEZ Ltd, Adani Total Gas Ltd, Adani Green Energy Ltd, Adani Transmission Ltd and Ambuja Cements were six Adani group companies, where mutual fund houses cut stakes to, in the month gone by. Five of these six stocks had risen up to 30 per cent during the month, suggesting profit booking moves by institutional investors.
Data showed mutual funds reduced stake in Adani Enterprises to 1,13,70,391 shares or 1 per cent in May from 1,16,50,252 shares or 1.02 per cent in April. Their holding in Adani Enterprises amounted to Rs 2,835.04 crore in May against Rs 2,242.62 crore in April end, as per data compiled by PRIME Database. The stock was up 29.65 per cent for the month.
Domestic fund managers cut stake in Adani Ports to 6,54,90,803 shares or 3.03 per cent in May against 6,83,90,343 shares or 3.17 per cent in April. MFs held Rs 4,838.79 crore worth Adani Ports stocks in May compared with Rs 4,659.43 crore in April. This stock was up 8.23 per cent in May.
In Ambuja Cements, mutual funds reduced stake to 11,29,70,565 shares or 5.69 per cent in May from 11,61,78,999 shares or 5.85 per cent in April. That said, the value of their holding in this Adani company increased to Rs 4,785.43 crore from Rs 4,606.50 crore, thanks to a 6.88 per cent rise in Ambuja Cements shares in May.
Adani Green Energy, Adani Total Gas and Adani Transmission are three Adani stocks where MFs held Rs 225-135 crore worth shares at May end.
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In Adani Green Energy, MFs held 13,93,590 shares in May against 13,95,738 shares in April. In Adani Total Gas, they cut stakes to 13,39,263 shares from 13,42,952 shares. Adani Transmission saw MFs trimming stake to 13,16,577 shares from 13,17,111 shares.
Adani Green stock was up 3.45 per cent in May while Adani Transmission stock rose 1.73 per cent for the month. Shares of Adani Total Gas, meanwhile, plunged 29 per cent for the month. Adani Total Gas tanked as the stock, along with
Adani Transmission were removed from of MSCI Global Standard index.
The Adani group reported double-digit profit and sales growth for the March quarter. Data from Ace Equity showed that the combined net profit of the 10-listed Adani group firms surged 17 per cent year-on-year (YoY) to Rs 9,093.97 crore in Q4, from Rs 7,797.71 crore a year ago. The combined net sales of the group grew 12.16 per cent YoY to Rs 81,219.42 crore during the quarter.
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