Capital Group invests over $2 billion in 3 Adani firms
Business
Capital Group, a global investment giant, just put more than $2 billion into three Adani companies (Adani Ports, Adani Power, and Adani Green Energy) by picking up stakes in Adani Ports through open-market deals on May 5 and in Adani Power and Adani Green Energy in recent weeks.
This move highlights growing trust in Adani's infrastructure and energy projects in India.
Capital Group trims Reliance Industries stake
Capital Group has been dialing down its Reliance Industries shares for years, especially as Reliance's stock slipped while Adani's soared (with gains of up to 94% for Adani Power).
Plus, recent US Department of Justice move have eased concerns around Gautam Adani, making investors even more optimistic about the group's future.