Rs 4,873 Crore Bets In 4 Adani Stocks By Mutual Funds; Group's Cash-Cows Adani Power, ACC Sees Top Buying

Adani Group-backed stocks have once again engrossed mutual funds as they increase their shareholding in four Adani stocks. Mutual funds investment valued to around Rs 4,873 crore in these Adani stocks by end of August 2023. Group's cash-cow Adani Power was the top pick in largecap basket, while cement firm ACC was among top bought stocks in midcap space. Adani Enterprises and Adani Energy Solutions also saw buying.

Mutual funds investment in Adani stocks:

Adani Power: Data from ICICI Securities showed that Adani Power was the top bought stock in the largecap baskets. Their shareholding increased sharply to 61 lakh shares from earlier 17 lakh shares in July month. While MFs market value in Adani Power increased rapidly to Rs 194 crore in August 2023, compared to a meagre Rs 46 crore valuation by end of July 2023.

A research report of Fisdom also showed that Adani Power gave the most returns to MFs in 1-month to the tune fo 34% compared to other top largecap stocks that were also bought in August.

Notably, Adani Power has gained the most year-to-date in the billionaire Gautam Adani-backed Group-led securities.

Adani Energy Solutions: Apart from Adani Power, the Group's power transmission firm Adani Energy Solutions was also in the list of top bought largecap stocks. At third position, mutual funds buying in Adani Energy increased to 22 lakh shares in August versus 16 lakh shares in July, while their market value zoomed to Rs 178 crore as against Rs 127 crore in July 2023.

Fisdom's data pointed out that Adani Energy gave 2.6% returns in 1-month to MFs.

Adani Enterprises: Mutual fund house, Nippon AMC doubled their shareholding in Adani Group-backed flagship firm to 12 lakh shares during August month from 6 lakh shares held by end of July. Nippon's market value in Adani Enterprises also climbed to Rs 291 crore as against Rs 142 crore in July 2023.

However, unlike Adani Power and Adani Energy, the flagship firm of the port-to-energy empire has given muted returns in 1-month, as per Fisdom data.

ACC Ltd: In the midcap segment, MFs raised their shareholding in Adani's cement subsidiary, ACC Ltd to 210 lakh shares in August versus 183 lakh shares in July. In terms of market value, MFs bet stood at Rs 4,210 crore in ACC in August 2023 as against Rs 3,702 crore in July 2023.

This cement stock has given 2.8% returns in 1-month to MFs, as per Fisdom.

Together, mutual funds market value in these four Adani stocks stood at Rs 4,873 crore as of August 2023.

On Friday, Adani Enterprises gained by nearly 1.5% on BSE, while Adani Power jumped nearly 2%. Further, ACC shares advanced nearly a per cent, however, Adani Energy stock is down by a little over 1%. Among other Adani stocks, Adani Green Energy and NDTV stocks were in green, on the contrary, Adani Ports, Adani Wilmar, Adani Total Gas, and Ambuja Cements shares slipped.

Year-to-date, Adani Power shares have climbed by over 27% on BSE, and Adani Ports stock jumped nearly 3%. All other Adani stocks are in red zone. Adani Enterprises stock shed 34% YTD, Adani Energy Solutions dived 67%, Adani Total Gas nosedived 82%, Adani Green Energy tumbled over 47%, and Adani Wilmar plunged 42%. Cement stocks Ambuja and ACC shed over 15% and 16% respectively, while NDTV shares also plummeted by over 35%.

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