Gautam Adani and Rajiv Jain
Do you know who is the biggest fan of Gautam Adani? Who is the person who has staked his wealth worth more than Rs 38 thousand crore in 6 companies of Adani Group? Yes, this fan is none other than GQG’s Rajeev Jain. Rajiv Jain has not only increased his stake in the shares of Adani Group, but has also invested in other companies of the group. Rajiv Jain started investing in Adani Group companies when the shares of the companies were sinking and everyone was hesitant in investing in Adani Group.
What is the stake in Adani companies?
GQG Partners’ stake in Adani Enterprises rose by 21 bps to 2.95 per cent, while in Adani Ports it rose by 23 bps to 3.76 per cent. In Adani Green Energy, GQG increased its stake by 13 bps to 3.68 per cent. During the quarter, Jain’s team also bought shares of Adani Energy Solutions, Adani Power and Ambuja Cements. The total value of GQG’s stake in all six Adani shares has increased from Rs 25,024 crore at the end of the September quarter to Rs 38,154 crore (as on January 12).
This is how investment started
Rajiv Jain had invested in Adani shares in March 2023 during the peak of the Hindenburg dispute. In the beginning of March, Adani made his first investment of Rs 15,446 crore in four companies of the group. During that time, Rajiv Jain had said for the shares of Adani Group that there could be a multibagger in the next 5 years. According to Jain, there is less political risk in Adani’s story than was thought. Jain had said during an interview that Adani Group companies are competing with government companies which are very slow, which reduces the political risk significantly.
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Adani Hindenburg case is not over yet
On the other hand, India’s largest domestic institutional investor LIC has made huge profits from Adani Energy Solutions, Adani Enterprises and Adani Ports in the December quarter. Although investors have considered the Supreme Court’s decision not to hand over the investigation of Adani vs Hindenburg case to any agency other than SEBI as a clean chit for the group, but the matter is not over yet. SEBI has completed 22 out of 24 investigations into the allegations made against Adani Group and now the Supreme Court has asked SEBI to complete the two pending investigations in the next 3 months.