Taking advantage of the ongoing surge in stock prices, foreign institutional investors (FIIs) decided to book profits in 9 out of 10 Adani stocks in the June quarter while LIC decided to increase bets in two underperforming companies Adani Energy and Adani Enterprises. Analysis of the shareholder pattern of all 10 Adani stocks shows that FIIs invested 268 basis points in Adani Enterprises, 196 basis points in Adani Energy, 150 basis points in Ambuja Cements, 118 basis points in Adani Power and 124 basis points in Adani Green Energy. The proportion of basis points has come down.
Confidence remains intact in this Adani Group company
Adani Ports, considered the group’s cash king and whose shares were listed on Sensex a month ago, was the only Adani company in which FIIs increased their stake by 21 basis points during the quarter.
On the other hand, the ET report says that LIC has chosen to retain its stake in ACC, Adani Green Energy, Adani Ports and Adani Total Gas. India’s largest domestic institutional investor PSU Insurance Company reduced its stake in Ambuja Cements by 62 basis points to 5.07%. LIC’s stake in Adani Energy rose 68 bps to 3.68%, while that of Adani Enterprises rose 14 bps to 4.07%. While Adani Energy shares are trading flat so far this year, Adani Enterprises shares are up just 6 per cent in 2024, with a 4 per cent rise seen on July 26 alone.
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Mutual fund people remain optimistic
Mutual funds were bullish on most Adani stocks as MF holdings in ACC rose by 122 bps, Adani Ports by 35 bps and Adani Energy by 16 bps. Fund managers chose to reduce their holdings in Ambuja Cements. Incidentally, Ambuja is also the only stock in which retail investors have also reduced their holdings. During the quarter, retail investors increased their holdings in Adani stocks by 9 bps as their holdings in Adani Ports rose by 71 bps, in ACC by 36 bps and in Adani Enterprises by 35 bps.
There has been an increase in promoter participation in these
Promoter stake has increased in five Adani stocks – Ambuja Cements, Adani Power, Adani Green Energy, Adani Enterprises and Adani Energy. So far this calendar year, Adani Ports is the best performing stock in the Adani universe, returning 45% so far this year. Adani Power, Ambuja Cements and ACC top the list. On the other hand, NDTV, Adani Total Gas and Adani Wilmar are in the loss.
