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The stocks of Adani Group have risen after GQG Partners, an asset management firm led by Rajiv Jain, increased its investments in five Adani Group companies through block trades. According to exchange data, GQG Partners acquired shares of Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Adani Power, Adani Green Energy, and Adani Energy Solutions. The most significant purchase was of 53.42 lakh shares of Adani Enterprises at ₹2,462 each, totaling ₹1,315.2 crore. The shares were sold by Reliance Institutional Retirement Trust Series Eleven. Additionally, GQG Partners bought 73.17 lakh shares of Adani Ports in two transactions at ₹5100 crore, amounting to ₹1,103.14 crore.
In other transactions, GQG acquired 77.39 lakh shares of Adani Green Energy for ₹1,088.6 each, valued at ₹842.53 crore, and 83.61 lakh shares of Adani Power at ₹153.28 each, totaling ₹1,281.57 crore. Furthermore, the firm purchased 53.94 lakh shares of Adani Energy Solutions in two deals at ₹1,021.55 per share, with a total value of ₹551.08 crore. GQG Partners is recognized as a global active long-term asset management firm. Earlier in January 2023, following serious allegations made by Hindenburg Research against the Adani Group, Rajiv Jain made substantial investments in Adani Group stocks, showcasing his ability to identify market valuations and invest with confidence, which has established him as a prominent investor across various sectors.