[ad_1]
MUMBAI: Amid heavy selling in all 10 Adani Group stocks since January-end, life insurance major LIC marginally increased its holdings in at least four companies of the airports-to-FMCG conglomerate, quarterly shareholding disclosures by companies showed.
The shareholding of Adani companies, as of March 31, also showed that retail investors increased their stakes in most stocks while mutual funds cut their exposure. For foreign investors, it was a mixed bag.
In the March quarter, LIC increased its holding in Adani Green Energy, Adani Total Gas, Adani Transmission and Adani Enterprises, kept its exposure unchanged in ACC, while reduced its stake in Adani Ports and Ambuja Cements.
Shareholding disclosures by the three remaining companies within the group – Adani Power, Adani Wilmar and NDTV – did not show any holding by LIC. This could either be because the life insurance major holds less than 1% in each of these companies or doesn’t own any shares. Listing rules specify that the names of only those shareholders that hold 1% or more in a company have to be disclosed to exchanges.
The latest shareholding patterns of Adani companies also showed that in group flagship Adani Enterprises, retail shareholders increased their stake by more than a percentage point to 7.9%, while mutual funds cut their stake in the company to 0.9% from 1.2%. Foreign funds too increased their stake in the company to 17.8% from 15.4% but this was largely because on March 2, the promoters sold nearly 4% in the company to GQG Partners, a US-based entity registered here as a foreign portfolio investor.
In three other companies too – Adani Ports, Adani Green Energy and Adani Transnission – the promoters had sold some minor part of their stakes to GQG Partners. Consequently, promoter holdings in these companies have also come down during the last quarter.
The shareholding of Adani companies, as of March 31, also showed that retail investors increased their stakes in most stocks while mutual funds cut their exposure. For foreign investors, it was a mixed bag.
In the March quarter, LIC increased its holding in Adani Green Energy, Adani Total Gas, Adani Transmission and Adani Enterprises, kept its exposure unchanged in ACC, while reduced its stake in Adani Ports and Ambuja Cements.
Shareholding disclosures by the three remaining companies within the group – Adani Power, Adani Wilmar and NDTV – did not show any holding by LIC. This could either be because the life insurance major holds less than 1% in each of these companies or doesn’t own any shares. Listing rules specify that the names of only those shareholders that hold 1% or more in a company have to be disclosed to exchanges.
The latest shareholding patterns of Adani companies also showed that in group flagship Adani Enterprises, retail shareholders increased their stake by more than a percentage point to 7.9%, while mutual funds cut their stake in the company to 0.9% from 1.2%. Foreign funds too increased their stake in the company to 17.8% from 15.4% but this was largely because on March 2, the promoters sold nearly 4% in the company to GQG Partners, a US-based entity registered here as a foreign portfolio investor.
In three other companies too – Adani Ports, Adani Green Energy and Adani Transnission – the promoters had sold some minor part of their stakes to GQG Partners. Consequently, promoter holdings in these companies have also come down during the last quarter.
[ad_2]
Source link
For more information call us at 9891563359.
We are a group of best insurance advisors in Delhi. We are experts in LIC and have received number of awards.
If you are near Delhi or Rohini or Pitampura Contact Us Here
Dear Reader,
