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NEW DELHI: Nearly 20 mutual funds have invested in Adani Group companies and the total market value of their investment as of December is estimated to be around Rs 23,000 crore, according to an exclusive research by ET Now.
After US-based short-seller Hindenburg Research came out with an adverse report about the Adani Group on January 24, shares of the group companies have taken a beating on the bourses.
According to the ET Now analysis, around Rs 7,200 crore worth of mutual fund investment is in Adani Ports, which is the largest.
“In Ambuja, there is an investment of close to Rs 6300 crore. Adani Enterprises has mutual funds investment worth nearly Rs 4,900 crore. While ACC has an investment worth nearly Rs 3,400 crore,” ET now reported.
Meanwhile, Adani Total Gas has mutual fund investment worth nearly Rs 520 crore.
Among the mutual funds, HBI mutual fund which has deployed close to Rs 5,800 crore followed by Kotal Mutual Fund, ICICI Prudential Mutual Fund, Nippon India and UTI which have invested anywhere in the range of around Rs 1,800 crore to Rs 2,300 crore.
“However, as a percentage of their total equity, Quant exposure is the highest at around 8% followed by Tata Mutual Fund which has an exposure of close to 3% while Motilal Oswal, Nippon India and SBI Mutual Fund have an exposure in the range of around 1.2 to 2.8%,” the report said.
In a statement on Thursday, MSCI Inc said it has received feedback from a range of market participants concerning the eligibility and free float determination of specific securities associated with the Adani Group for the MSCI Global Investable Market Indexes (GIMI).
MSCI defines the free float of a security as the proportion of shares outstanding that is considered available for purchase in the public equity markets by international investors.
Meanwhile, after recovering for two straight sessions, shares of Adani Group companies resumed their slide on Thursday, with flagship Adani Enterprises slumping nearly 11 per cent as index provider MSCI Inc decided to review the weightage of the conglomerate’s stocks in its indices.
Source: ET Now
After US-based short-seller Hindenburg Research came out with an adverse report about the Adani Group on January 24, shares of the group companies have taken a beating on the bourses.
According to the ET Now analysis, around Rs 7,200 crore worth of mutual fund investment is in Adani Ports, which is the largest.
“In Ambuja, there is an investment of close to Rs 6300 crore. Adani Enterprises has mutual funds investment worth nearly Rs 4,900 crore. While ACC has an investment worth nearly Rs 3,400 crore,” ET now reported.
Meanwhile, Adani Total Gas has mutual fund investment worth nearly Rs 520 crore.
Among the mutual funds, HBI mutual fund which has deployed close to Rs 5,800 crore followed by Kotal Mutual Fund, ICICI Prudential Mutual Fund, Nippon India and UTI which have invested anywhere in the range of around Rs 1,800 crore to Rs 2,300 crore.
“However, as a percentage of their total equity, Quant exposure is the highest at around 8% followed by Tata Mutual Fund which has an exposure of close to 3% while Motilal Oswal, Nippon India and SBI Mutual Fund have an exposure in the range of around 1.2 to 2.8%,” the report said.
In a statement on Thursday, MSCI Inc said it has received feedback from a range of market participants concerning the eligibility and free float determination of specific securities associated with the Adani Group for the MSCI Global Investable Market Indexes (GIMI).
MSCI defines the free float of a security as the proportion of shares outstanding that is considered available for purchase in the public equity markets by international investors.
Meanwhile, after recovering for two straight sessions, shares of Adani Group companies resumed their slide on Thursday, with flagship Adani Enterprises slumping nearly 11 per cent as index provider MSCI Inc decided to review the weightage of the conglomerate’s stocks in its indices.
Source: ET Now
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