3,100 crore profit for non-resident Indian investor in Adani Group shares in 2 days

by time news

By news section

New Delhi: Hindenburg has alleged in a report published in January last that Adani Group companies are involved in various irregularities and their shares have been artificially inflated. As a result, the group’s shares fell by more than 50 percent. This issue has created a storm in India.

Meanwhile, the Adani Group announced earlier this week that it will prepay part of the loan. As a result, its shares started to rise. In this scenario, GQG Partners, owned by non-resident Indian Rajeev Jain, boldly invested Rs 15,446 crore in 4 shares of Adani Group. Over the next 2 days Adani Group shares rose sharply.

As a result, GQG investment increased to Rs.18,548 crore. This has resulted in a profit of Rs.3,102 crores. Adani Enterprises bought the company’s share last Thursday at a price of Rs.1,410.86. It increased to Rs 1,874 at the close of trade on Friday. That is a 33% rise in just two days. A profit of Rs.1,813 crore has been made on this one share alone. Similarly, they bought Adani Ports at Rs.596, Adani Green Energy at Rs.504 and Adani Transmission at Rs.668. Their prices have also increased significantly.

Meanwhile, shares of Australian-listed GQG Partners fell 3% on Friday. The decline is said to be due to investment in the Adani Group.

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