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Adani Enterprises
SBI Mutual Fund on Friday bought stakes in Adani Enterprises and Adani Energy Solutions from US-based GQG Partners for Rs 5,747 crore through open market transactions. SBI Mutual Fund purchased 1,64,39,984 shares representing nearly a 1.3 per cent stake in Adani Enterprises, the flagship entity of the Adani Group, according to block deal data on the National Stock Exchange (NSE). In addition, SBI MF also acquired 63,65,796 shares, amounting to a 0.52 per cent stake in Adani Energy Solutions. The shares were picked up in the price range of Rs 1,504.80-2,913.40 apiece, taking the combined transaction value to Rs 5,747.55 crore. Meanwhile, Rajiv Jain-backed GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund, offloaded the same number of shares in the two Adani group companies. The stake buy comes after SBI Mutual Fund last month acquired a 0.45 per cent stake in Adani's flagship firm Adani Enterprises, for Rs 1,435 crore. Shares of Adani Enterprises rose 2
Brokerage firm Bernstein said concerns surrounding the Adani Group following the 2023 short-seller episode and subsequent US regulatory developments now appear largely behind the group, potentially paving the way for a revival in foreign funding and broader investor participation. In a report covering four listed Adani companies - Adani Ports and Special Economic Zone, Adani Green Energy, Adani Power and Ambuja Cements - Bernstein said many global funds had stayed away from the group pending clarity on US-related developments, leaving several stocks under-owned despite strong operational execution. The report said the settlement of the US SEC case and moves by US prosecutors to drop charges against the group had removed a major overhang on Adani stocks, many of which still trade below pre-crisis levels despite a sharp recovery from earlier declines. "The group has gone through two big events in the last 4 years - the short seller event in January 2023 and US SEC-DoJ related ...
Adani Airport Holdings on Thursday announced signing a deal with hospitality firm IHG Hotels & Resorts for developing five hotels across key airport-linked and high-growth urban destinations, including Mumbai, Navi Mumbai and Ahmedabad. The agreement will add close to 1,500 keys across multiple brands and locations, in line with IHG's growth plans for India, Adani Airport Holdings Ltd (AAHL) said. AAHL said it is also in advanced discussions with IHG to further deepen and expand this partnership. The pact also marks IHG's luxury lifestyle boutique brand, Kimpton Hotels & Restaurants' debut in the domestic market. The development aligns with rising travel demand and the rapid expansion of India's aviation, tourism and airport-led urban infrastructure sectors, AAHL said. These five hotels will be developed across Jaipur, Mangaluru, Thiruvananthapuram and the Mumbai Metropolitan Region (MMR), strengthening hospitality infrastructure around major aviation and urban growth ...