GQG Boosts Its Stake in Adani Stocks During December Quarter

GQG Partners, a U.S.-based investment firm, has increased its stake in seven Adani Group companies in the December quarter, according to stock exchange data. The firm, led by Rajiv Jain, is betting on the execution ability of the Adani Group in its core infrastructure sector.

Adani Ports and Special Economic Zone (APSEZ)

GQG Partners hiked its stake in APSEZ to 3.76% as of December end from 3.53% as of September 30 . APSEZ is India’s largest private port operator and logistics company. It operates 12 ports and terminals across India and handles about 25% of the country’s cargo.

Adani Enterprises

The investment firm increased its stake in Adani Enterprises, the flagship company of the Adani Group, from 2.74% to 2.95% in the third quarter . Adani Enterprises is engaged in coal mining and trading, renewable energy, airport development and management, and agri-business.

Adani Green Energy

GQG Partners raised its stake in Adani Green Energy, one of the world’s largest renewable energy companies, from 3.5% to 6.32% in the December quarter. Adani Green Energy has a portfolio of over 15 GW of solar and wind projects across India.

Adani Energy Solutions

The firm also increased its stake in Adani Energy Solutions, a subsidiary of Adani Green Energy that provides distributed solar solutions to commercial and industrial customers, from 2.5% to 4.5% in the third quarter.

Adani Power

GQG Partners boosted its stake in Adani Power, India’s largest private power producer, from 2.1% to 3.1% in the December quarter. Adani Power has an installed capacity of over 12 GW across six states in India.

Ambuja Cements

The investment firm also raised its stake in Ambuja Cements, one of India’s leading cement manufacturers, from 1.8% to 2.8% in the third quarter. Ambuja Cements has a production capacity of over 29 million tonnes per annum and operates five integrated plants and eight grinding units across India.

GQG Partners increased its stake in ACC

Finally, GQG Partners increased its stake in ACC, another leading cement producer and a subsidiary of Ambuja Cements, from 1.6% to 2.6% in the December quarter. ACC has a production capacity of over 33 million tonnes per annum and operates 17 cement plants and 50 ready mix concrete plants across India.

According to NDTV Profit’s calculations, as of Jan 19, GQG Partners holdings is valued at Rs 38,649.62 crore in Adani Group companies. This is a 33% increase from the holding value of Rs 29,032.95 crore at the end of September quarter.