Buoyed by $1.9 bn investment by GQG Partners, Adani rally enters 2nd week

Industry players said the GQG investment will provide a floor to Adani stocks and also ease concerns around promoter-share pledges

Buoyed by the $1.9 billion investment by US-based GQG Partners, Adani Group stocks extended their winning run on Monday. Except for ACC and Ambuja Cements, the other eight group stocks rose between 1 per cent and 6 per cent, adding Rs 30,250 crore in market value. 

Last week, 10 Adani Group companies had added Rs 1.4 trillion in market capitalisation (m-cap) after Rajiv Jain-led GQG picked up stake in four firms from an Adani family trust.

Jain’s vote of confidence has helped revive investor interest in the beleaguered group which saw over Rs 12-trillion wipeout in m-cap, following US short-seller