Adani Power, Adani Total Gas, Adani Green: FPIs cut stakes in 5 Adani stocks in Q3; MF holding patterns & more

Adani Power Ltd, Adani Total Gas Ltd, ACC Ltd, Adani Energy Solutions Ltd and Adani Green Energy Ltd were five Adani stocks where foreign portfolio investors (FPIs) cut stakes in the December quarter, ahead of the Supreme Court (SC) verdict on the Adani-Hindenburg case that was scheduled for January 3. Mutual funds, on the other hand, were seen trimming stakes in four of the group stocks namely Adani Ports and Special Economic Zone Ltd, Adani Energy Solutions Ltd, New Delhi Television Ltd, Adani Total Gas Ltd.

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 further rally later as the Supreme Court (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 a proof.

In the case of FPIs, they cut their holding in Adani Power by 117 basis points to 15.86 per cent in the December quarter from 17.51 per cent in the September quarter. The scrip was up 29 per cent for the quarter. In Adani Total Gas, their holding dropped 88 basis points to 13.06 per cent from 13.94 per cent sequentially. This stock rallied 61 per cent in the December quarter. FPIs cut ACC stake by 86 basis points to 6.24 per cent from 7.1 per cent.

Adani Energy Solutions and Adani Green Energy saw FPIs trimming stakes by 25 basis points and 13 basis points respectively. In the case of Adani Ports and Special Economic Zone (up 89 basis points), Ambuja Cements Ltd (23 basis points), Adani Enterprises Ltd (13 basis points), New Delhi Television Ltd (8 basis points) and Adani Wilmar Ltd (2 basis points), they upped stakes marginally.

Mutual funds, on the other hand, trimmed stakes in Adani Ports, Adani Energy Solutions, New Delhi Television and Adani Total Gas by up to 8 basis points. They increased holdings in ACC (up 91 basis points), Adani Power (43 basis points) and Ambuja Cements (18 basis points). MFs largely stayed status quo on Adani Enterprises, Adani Green Energy and Adani Wilmar.

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