Many investors have placed big bets in the cement company of Adani Group. Crores of shares of Ambuja Cements were bought on Friday. Many including GQG Partners, National Pension System Trust and SBI Life Insurance have bought shares worth Rs 4,251 crore in Ambuja Cement. Shares of Ambuja Cement have been sold by the Adani Family to raise Rs 4,251 crore.
Some reports have quoted banking sources as saying that the Adani family’s portfolio is currently worth $125 billion, and to manage and balance it, stake in Ambuja Cements has been sold. These shares have been sold through block deals. Since Monday, block deals worth Rs 20,000 crore have been done between several companies.
GQG Partners biggest buyer
According to stock exchange data, GQG Partners was the biggest buyer, buying 4.39 crore shares worth Rs 1,679 crore in Ambuja Cements. National Pension System Trust bought shares worth Rs 525 crore, while SBI Life Insurance bought shares worth Rs 500 crore. This stake sale in Ambuja Cements is part of the Adani family’s plan to reduce its stake in group companies by 3 percent, as Adani Group companies are trading at a 52-week high.
Shares were dealt for this much rupees
Ambuja Cements shares closed stable at Rs 633 per share and its shares were sold at Rs 625 per share through block deal. With this sale, the Adani family will have a 67.3 percent stake in Ambuja Cements, which it acquired from Swiss material firm Holcim in May 2022. The family can also sell 0.5 to 3 percent stake in Adani Power. However, no decision has been taken on this yet.
This person had saved Adani Group from crisis
It was in January 2023, when Hindenburg presented a report on the Adani Group. After the release of this report, Gautam Adani’s net worth fell sharply. Along with this, all the shares of the Adani Group collapsed. After this, GQG Partners was the first investor to make a big bet in many companies of the Adani Group. GQG Partners made a big investment of $1.87 billion (about Rs 1 trillion 52 billion) in four companies of the Adani Group. After this, the shares of the Adani Group started rising rapidly. Today the situation is such that most of the shares of the Adani Group are trading at their 52-week high. GQG Partners is the company of Rajiv Jain, who is known as a veteran investor.
(Note- Before investing in any stock, please take the help of a financial advisor.)