JSW Energy shares: Rajiv Jain's GQG Partners buys stock for 2 straight trading sessions

Shares of JSW Energy will be in focus on Thursday morning after Rajiv Jain's GQG Partners bought company shares for two straight days through the open market. Data showed GQG bought 1.02 crore shares in the company at Rs 341.70 on the BSE, which were worth Rs 348.53 crore. This was on a day when GQG bought a total of 8.1 per cent stake in Adani Power.

Data showed GQG Partners Emerging Markets Equity Fund bought 10,284,024 JSW Energy shares at Rs 341.70 apiece on BSE. JSW Investments was a seller of 21,000,000 shares at the same price. Earlier on Monday, GQG Partners Emerging Markets had bought 1,19,11,334 shares in JSW Energy at Rs 345 apiece. Authum Investment & Infrastructure had sold 1.6 crore shares of the company at Rs 345 apiece.             

Shares of JSW Energy settled 6.66 per cent higher at Rs 368.10 on BSE. The average target price on JSW Energy stood at 280, as per Trendlyne, suggesting a 28 per cent potential downside.

Jain's GQG Partners Emerging Markets Equity Fund, meanwhile, also bought 49,030,009 Adani Power shares at Rs 279.15 apiece. Goldman Sachs Trust II-Goldman Sachs GQG Partner International Opportunities Fund also bought 1,03,030,127 Adani Power shares at Rs 279.15 a piece.

Jain's GQG holds stakes in Adani Green Energy, Adani Enterprises, Adani Ports & SEZ and Max Healthcare Institute Ltd.

In July, Patanjali Foods said GQG Partners and a few other investors bought 2,15,64,571 shares or 5.96 per cent stake in the company on July 14. The stocks were bought through the stock exchange settlement process by the way of offer for sale (OFS).

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