GQG Partners ups stake in two Adani cos to above 5 pc

GQG Partners, a US-based investment firm, has increased its shareholding in two Adani group companies, Adani Enterprises Ltd and Adani Green Energy Ltd, to over 5%. This move demonstrates GQG’s confidence in the group despite recent allegations of accounting fraud and stock manipulation made by a US short seller. GQG purchased additional stakes worth $1 billion, boosting its holdings in Adani Enterprises Ltd to 5.4% and in Adani Green Energy Ltd to 6.54%. The Adani family’s stake in Adani Enterprises has reduced to 67.65% as a result of their sale of shares to GQG.