SBI Mutual Fund acquires ₹5747.55cr Adani stakes from GQG Partners
Business
SBI Mutual Fund just invested a hefty ₹5,747.55 crore in Adani Group companies by picking up major stakes in Adani Enterprises and Adani Energy Solutions on June 5.
The shares were bought from U.S.-based GQG Partners, marking another big-money shift between global investors and Indian giants.
Adani stocks up 2.36% and 3.87%
This isn't SBI Mutual Fund's first rodeo. It also grabbed a chunk of Adani Enterprises last month.
After the latest deal, both Adani stocks jumped: Adani Enterprises rose 2.36% and Adani Energy Solutions went up 3.87%.
big players still see strong potential in Adani's future.