Key Points
A year ago when Adani Group was ambushed by the explosive report of Hindenburg Research, a lesser-known US investor Rajiv Jain made over Rs 15,000 crore worth contra bet on the group stocks through his firm GQG Partners...
This bet has indeed turned out to be a worthy one for the firm, as the market value of the investment firms holding in Adani Group companies has more than doubled in a year...
On March 2, 2023, GQG Partners acquired stakes in Adani Enterprises, Adani Ports and Special Economic Zone, Adani Energy Solutions (erstwhile Adani Transmission), and Adani Green Energy for a cumulative value of Rs 15,446 crore...
I am excited to have initiated positions in the Adani companiesWe believe that the long-term growth prospects for these companies are substantial, and we are pleased to be investing in companies that will help advance Indias economy and energy infrastructure, including their energy transition over the long-run, Jain, the chairman and CIO of GQG Partners then said.. Jain did not stop with the initial investment made in the four companies in March..
In a year, GQG nearly doubled down its holding in two Adani firms and also bought fresh stakes in two other companies...
