Mutual Funds, FIIs Raise Stake In Adani Ports In June Quarter

Adani Ports filed its shareholding data with the exchanges on Saturday.

What Happened: As per the data, mutual funds raised their stake in the ports giant. As of June 2024, mutual funds hold a 3.46% stake in the company, compared to the 3.11% stake they held at the end of March 2024. Among these is the SBI Nifty 50 ETF, which has a 1.14% stake in the Adani Group company.

Foreign institutional investors also raised stakes in the ports major during the April-June period. Foreign portfolio investors’ holdings in the stock stood at 15.19% at the end of June 30, 2024. The number was at 14.98% at the end of March 2024.

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GQG Partners Emerging Markets Equity Fund raised its stake 1.46% during the June quarter, compared to the 1.41% it held at the end of March 2024.

India’s biggest insurer LIC held on to its 7.86% stake.

Adani Ports is reportedly planning to invest ₹10,000 crore to enhance its Vizhinjam port in Kerala. This investment aims to attract the world’s largest ships and major container lines such as MSC Mediterranean Shipping Co, AP Moller – Maersk, and Hapag-Lloyd, according to a Bloomberg report.

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