Taking advantage of the ongoing surge in stock prices, foreign institutional investors (FIIs) have decided to book profits in 9 out of 10 Adani stocks in the June quarter, while LIC has decided to increase its stakes in two underperformers Adani Energy and Adani Enterprises. An analysis of the shareholder pattern of all 10 Adani stocks shows that FIIs have reduced their stakes in Adani Enterprises by 268 basis points, Adani Energy by 196 basis points, Ambuja Cements by 150 basis points, Adani Power by 118 basis points and Adani Green Energy by 124 basis points.
Adani Group’s trust in this company remains intact
Adani Ports, considered the cash king of the group and the stock which was included in the blue chip Sensex a month ago, was the only Adani company in which FIIs increased their stake by 21 basis points during the quarter.
On the other hand, the ET report says that LIC has opted to retain its stake in ACC, Adani Green Energy, Adani Ports and Adani Total Gas. India’s largest domestic institutional investor PSU insurance company reduced its stake in Ambuja Cements by 62 bps to 5.07%. LIC’s stake in Adani Energy increased by 68 bps to 3.68%, while Adani Enterprises rose 14 bps to 4.07%. While Adani Energy shares are trading flat on a year-to-date basis, Adani Enterprises shares have gained just 6 per cent in 2024, of which a 4% jump was seen on July 26 alone.
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Mutual funders are still bullish
Mutual funds were bullish on most Adani stocks, as MFs’ stake rose 122 bps in ACC, 35 bps in Adani Ports and 16 bps in Adani Energy. Fund managers chose to reduce their stake in Ambuja Cements. Incidentally, Ambuja is also the only stock in which retail investors also reduced stake. During the quarter, retail investors increased bets on 9 Adani stocks, as their stake rose 71 bps in Adani Ports, 36 bps in ACC and 35 bps in Adani Enterprises.
In these, there was an increase in promoter holding
5 Adani stocks – Ambuja Cements, Adani Power, Adani Green Energy, Adani Enterprises and Adani Energy saw promoter holdings rise. So far in the calendar year, Adani Ports is Adani’s best-performing stock in the world, delivering a return of 45% year-to-date. Top of the list are Adani Power, Ambuja Cements and ACC. On the other hand, NDTV, Adani Total Gas and Adani Wilmar are in the red.
