Mutual funds have significantly increased their investment in Adani Group companies, with net purchases reaching over Rs 4,200 crore in August 2024. This marks a consistent rise in mutual fund interest in the Adani Group over recent months. In July, net buying stood at around Rs 2,000 crore, while June and May saw Rs 990 crore and Rs 880 crore, respectively.
In August, mutual funds had invested in eight of the group’s listed companies, with tiny outflows only in ACC. The biggest have been in: Adani Energy Solutions Rs 1,541 crore led by the $1 billion QIP deal Ambuja Cement Rs 1,308 crore led by the Rs 4,250 crore block deal.
Other Adani group companies that saw heavy buying include Adani Enterprises Rs 924 crore and Adani Ports & SEZ Rs 588 crore. For Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, the inflows ranged from Rs 44 crore to Rs 34 lakh. On the other hand, ACC witnessed mutual fund outflow of Rs 201 crore.
This consistent rise in mutual fund investments is a clear indication of growing confidence in Adani group stocks.Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
