(20 second reading) With the Ahmedabad-based Indian conglomerate being seen as becoming “too big to ignore”, foreign institutional investors or FIIs increased stake in 6 out of 10 Adani stocks in the March quarter.
During the quarter, FII ownership went up by 26 bps to 14.98% in Adani Ports. Adani Green Energy and Adani Wilmar also saw a rise of 12 bps each in FII holding. Other stocks in which foreign ownership rose quarter-on-quarter are Adani Power, Adani Total Gas and NDTV, shows data pulled from ACE Equity.
Mutual funds were seen raising bets on ACC, Adani Enterprises, Adani Green Energy and Adani Power. Retail investors, on the other hand, seemed to have booked profits in all stocks of the conglomerate barring Adani Energy.