GQG Partners Inc. operates as an independent asset management firm based in the United States. Serving customers worldwide, GQG Partners offers various services, some of which include portfolio management, financial planning, investment advisory, and many more.
Listed below are three such fundamentally strong stocks under Adani Group’s portfolio in which GQG Partners, as per the data available, increased their stake by up to 1.90 percent in the March 2024 quarter:
Adani Ports and Special Economic Zone Limited
With a market capitalization of Rs 2.82 lakh crores, the stocks of Adani Ports and Special Economic Zone Limited, engaged in the business of development, operations, and maintenance of port infrastructure, closed at Rs 1,303.25 on Tuesday, slipping approximately 1 percent compared to the previous closing levels of Rs 1,315.15 apiece.
According to the latest shareholding pattern data available, GQG Partners increased their stake in Adani Ports and Special Economic Zone Limited by around 0.07 percent, i.e., from holding of 1.34 percent during the December 2023 quarter to holding of 1.41 percent during the March 2024 quarter.
Having a glance at the latest financial reports, the prime indicators of business, viz, its operating revenues as well as after-tax profits, reported a jump in numbers with the former shifting upward from Rs 6,646 crores during Q2FY24 to Rs 6,920 crores during Q3FY24, and the latter, keeping the timeframe the same, rose from Rs 1,762 crores to Rs 2,208 crores.
Adani Enterprises Limited
With a market capitalization of Rs 3.54 lakh crores, the stocks of Adani Enterprises Limited, one of the well-known conglomerate companies based in India, closed at Rs 3,105.95 on Tuesday, slipping approximately 1.40 percent compared to the previous closing levels of Rs 3,148.60 apiece.
According to the latest shareholding pattern data available, GQG Partners increased their stake in Adani Enterprises Limited by around 0.22 percent, i.e., from holding of 1.23 percent during the December 2023 quarter to holding of 1.45 percent during the March 2024 quarter.
Having a glance at the latest financial reports, the prime indicators of business, viz, its operating revenues as well as after-tax profits, reported a jump in numbers with the former shifting upward from Rs 22,517 crores during Q2FY24 to Rs 28,336 crores during Q3FY24, and the latter, keeping the timeframe the same, rose from Rs 333 crores to Rs 1,973 crores.
Adani Energy Solutions Limited
With a market capitalization of Rs 1.17 lakh crores, the stocks of Adani Energy Solutions Limited, engaged in the business of establishing, commissioning, and maintaining electric power transmission systems, closed at Rs 1,052.65 on Tuesday, gaining approximately 1.30 percent compared to the previous closing levels of Rs 1,039.70 apiece.
According to the latest shareholding pattern data available, GQG Partners bought a fresh stake in the shares of Adani Energy Solutions Limited. The institution holds around 2.03 crore equity shares of the company equivalent to a 1.82 percent stake.
Having a glance at the latest financial reports, the prime indicators of business, viz, its operating revenues as well as after-tax profits, reported a jump in numbers with the former shifting upward from Rs 3,674 crores during Q2FY24 to Rs 4,563 crores during Q3FY24, and the latter, keeping the timeframe the same, rose from Rs 284 crores to Rs 348 crores.
Written by Amit Madnani
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