All shares of Adani Group rose, Adani Power rose by more than 3 percent
Adani Shares: Today almost all the shares of Adani Groups are trading with an increase. Adani Power shares are trading up 3 percent in morning trade on Thursday. Stock markets opened with a decline in early trading on Thursday. Let us know which stocks of Adani Groups are trading with gains today.
Today the stock markets opened with a decline. Shares of Adani Power climbed over 3 percent in morning trade on Thursday. This is why US-based boutique investment firm GQG Partners along with investors have bought an 8.1 percent stake in Tata Power for Rs 9,000 crore (US$1.1 billion).
The stock of Adani Power rose 3.27 percent to Rs 288.45 per share on BSE. At the same time, the company's shares rose 3 percent to Rs 288.50 per share on the NSE.
At the time of writing the news, the stock of Adani Power was trading higher by 4.55 points at 284.45 per share.
Today, shares of many companies of Adani Group are trading with an increase. This includes Adani Enterprises, Adani Transmission, Adani Wilmar, and NDTV. GQG Partners along with other investors on Wednesday bought an 8.1 percent stake in Adani Power Ltd for over Rs 9,000 crore. The company has ignored reports from US-based short-sellers.
Stock market data showed that GQG Partners and other investors bought 31.2 crore shares of Adani Power in a block deal. This is one of the largest secondary market equity transactions ever. Adani Power is the fourth company from Port to Power Group where GQG has invested since May.
The Adani Group held a 74.97 percent stake in the company. The company has sold 31.2 crore i.e. 8.1 percent stake of the company at an average price of Rs 279.17 per share. US-based investment firm
US-based investment firm GQG started investing in Adani Group in early March. At that time the Adani Group was battling allegations made by short-seller Hindenburg Research. Now GQG firm's stake in Adani Power has increased.
