Hindenburg report: Mutual funds had already invested ₹41,814-crore in 10 Adani group companies

Adani Ports had the highest investment amount by mutual funds at ₹13,024.22 crore, spread across 111 funds, while it was ₹7,291 crore for Adani Enterprises.

Published on: Aug 12, 2024, 15:01:15 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

Prefer HTon Google

Share via

Copy link

Mutual funds in India have currently invested ₹41,814 crore into Adani companies, according to a Moneycontrol report, which added that all these companies are now in focus due to the latest Hindenburg report.

The new Hindenburg report alleged that Sebi Chairperson Madhabi Puri Buch and her husband Dhaval Buch owned stakes in offshore funds related to what Hindenburg calls the "Adani money siphoning scandal.” (ANI)

The new report by US-based short seller Hindenburg Research LLC which cited whistleblower documents, alleged that Sebi Chairperson Madhabi Puri Buch and her husband Dhaval Buch owned stakes in offshore funds related to what Hindenburg calls the "Adani money siphoning scandal.”

Madhabi Puri Buch and her husband Dhaval Buch denied the allegations, calling them “baseless” and an attempt at “character assassination.”

Also Read: Madhu Kela's advice for stock market investors on 'conspiracy' Hindenburg report: Don't worry or be nervous

How did the report affect Adani Group shares?

The report was published on the night of Saturday, August 10, 2024. When the markets opened on Monday, August 9, Adani group shares were mostly in the red.

Also Read: The creator of Gmail knows why Google fell behind in the AI race, here's what he says

Around 9.45 AM IST, Adani Enterprises Ltd dropped by 4.10%, trading at ₹3,054.50, Adani Ports and Special Economic Zone Ltd traded about 2.44% lower at ₹1,496.75, Ambuja Cements traded flat at ₹628.25, and ACC dropped by 1.49% at ₹2,316.35.

What are all the Adani group companies?

Currently 11 Adani companies are listed on the Indian stock exchanges. These include ACC, Ambuja Cements, Adani Ports and SEZ, Adani Energy Solutions, Adani Enterprises, Adani Green Energy, Adani Power, Adani Total Gas, Adani Wilmar, New Delhi Television (NDTV), and Sanghi Industries.

Also Read: Like Warren Buffett? Nvidia's Jensen Huang sold record $323 million stock in July before market crash

However, mutual funds do not hold investments in NDTV, according to the Moneycontrol report.

How much have mutual funds invested in Adani shares?

Adani Ports and Special Economic Zone Ltd had the highest amount of investment by mutual funds at ₹13,024.22 crore, spread across 111 funds. Ambuja Cements came next, with an investment of ₹8,999.25 crore, ACC had an investment of ₹7,668.38 crore, and Adani Enterprises had a ₹7,290.63 crore investment, according to Value Research data.

How much have mutual funds invested in Adani Ports?

SBI Nifty 50 ETF invested the most ( ₹1,520.59 crore) in Adani Ports, while Kotak Equity Arbitrage Fund invested ₹701.90 crore and SBI Arbitrage Opportunities Fund invested ₹649.12 crore.

DSP Dynamic Asset Allocation Fund had the highest exposure at 4.17%, having invested ₹133.78 crore, followed by NJ Arbitrage Fund, which at 3.99%, invested ₹15.44 crore, and DSP Equity Savings Fund, at 3.04%, invested ₹40.99 crore in Adani Ports.

How much have mutual funds invested in ACC?

A total of 140 schemes invested ₹7,668.38 crore in ACC, but only 32 of them were passive schemes, and they invested only ₹63.47 crore at the end of July 2024.

HDFC Mid-Cap Opportunities Fund invested ₹1,149.44 crore, Mirae Asset Large & Midcap Fund invested ₹572.26 crore and SBI Contra Fund invested ₹373.88 crore.

PGIM India Arbitrage Fund had a 7.56% investment, UTI BSE Housing Index Fund had a 3.42% investment, and Kotak BSE Housing Index Fund invested 3.42%.

How much of the investments in Adani companies are from passive funds?

From the total of ₹41,813.57 crore, passive funds held ₹11,777.36 crore and passive mutual fund schemes held ₹30,036.21 crore.

Passive funds invested most in Adani Wilmar (100%), and least in ACC (0.8%). Adani Green Energy had a 92.1% investment, while Adani Total Gas had 91.8%.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.