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Retail investors booked some profits in five stocks of the group after raising stake in all Adani Group stocks during the March quarter. Exchange data shows that investors have continued to raise stake in the group’s five companies.
Retail investors booked some profit in five stocks of the group after raising stake in all the Adani Group stocks during the March quarter. Exchange data shows that investors have continued to raise stake in the group’s five companies. The stocks that saw an increase in retail investment during the June quarter include NDTV, Adani Total Gas, Adani Transmission, Adani Wilmar and ACC. Individual holdings in NDTV have increased by 4.31 per cent (ppts) to 21.85 per cent. Retail holdings of Adani Total Gas have increased by 2.06 ppt to 4.5 per cent.
The average retail holding in Adani Group companies has increased from a little over five per cent to close to seven per cent by the end of 2022. The combined market cap of all Adani shares at the end of June 2023 rose by 10.4 per cent to Rs 10.1 lakh crore in the three months.
retail shareholding
march-23 June-23
Adani Enterprises 3.41% 3.17%
Adani Ports 4.10% 3.70%
Adani Green 52.33% 2.18%
Adani Transmission 1.36% 2.36%
Adani Wilmar 9.49% 9.73%
Adani Total Gas 2.39% 4.45%
NDTV 17.54% 21.85%
Ambuja Cements 7.23% 6.35%
ACC 9.03% 9.33%
Adani Power 6.87% 6.38%
NDTV’s valuation decline
Interestingly, NDTV, where retail investors have more than doubled their stake since September last year, has seen a decline in its valuation since then. NDTV’s stock has come down by 58 per cent from its September high. Similarly, the stake of individual investors in Adani Total Gas increased from 1.6 per cent to 4.5 per cent at the end of December. The stock of Adani Total Gas is down 83 per cent since January.
Retail investment value 43,000 crores
At the end of the June quarter, the value of retail investments in all ten Adani stocks was around Rs 43,000 crore, which is almost equal to the value of Life Insurance Corporation of India’s (LIC) portfolio. LIC, the country’s largest institutional investor, neither bought nor sold any shares of Adani during the first quarter of FY2024. Data shows that the promoter entity has cut its stake in four group companies by 4 per cent since the beginning of the year.
Promoter stake reduced in Adani Transmission
While the promoter stake in Adani Transmission has come down by 5.92 per cent since January, Adani Enterprises and Adani Green Energy saw a decline of around five per cent each by the promoter entity during the same period. The promoter’s stake in Adani Ports & SEZ has come down from 65.1 percent to 62.9 percent at the end of December 2022.
First Published: Jul 24, 2023 10:03:27 PM IST