Following the market crash caused by Hindenburg Research's publication of a report on the company, Rajiv-Jain-led GQG Partners placed significant bets on Adani equities. It seems like it was worthwhile.
According to a Livemint story, the company had invested Rs 15,446 crore, but thanks to a surge in the price of Adani Group stocks, that amount has increased by 65% to Rs 25, 515 crore.
Following the release of the Supreme Court panel's findings on the Adani-Hindenburg problem, Adani companies' stock values have increased.
In March 2023, while the Adani Group was under investigation for a number of the claims mentioned in Hindenburg's report, the US-based GQG partners made investments in four of the group's enterprises.
Adani Enterprises, Adani Ports & SEZ, Adani Transmission, and Adani Green Energy all received investments from the company for a total of Rs 5,460 crore.
The current valuation of GQG Partners' investments in Adani Enterprises, Adani Ports, Transmission, and Green Energy is Rs. 10,589 crore, Rs. 6,964 crore, Rs. 2,461 crore, and Rs. 5,501 crore, respectively.
Bloomberg claims that GQG Partners has now chosen to boost its stake in the firm by 10%. According to Bloomberg's quotation of Rajiv Jain, Chief Investment Officer of GQG, “Within five years, depending on the valuation, we would like to be one of the largest investors in Adani Group after the family.”
GQG's share in the Adani Group is now close to Rs 29,000 crore.
After losing more than half of their value amid the controversy around the Hindenburg report, the stocks of Adani Group companies have recovered. The case is still under investigation, and a SEBI report on the matter has not yet been released. By August 14, the market regulator is anticipated to have submitted its comprehensive report on the Supreme Court dispute.