Adani Shares: Promoters ramp up stake worth ₹23,000 crore in 5 companies; check the list here

Promoters of the Adani Group, led by billionaire Gautam Adani, steadily invested in group co mpanies in the second quarter as shares continued their climb to take back their pre-Hindenburg highs.

According to shareholding data put together by a Moneycontrol report, promoters increased their stakes in five Adani Group companies, cumulatively investing ₹23,000 crore.

Below are the firms, alongwith the increase in promoter shareholding:

• Ambuja Cements: From 66.74% to 70.33%
• Adani Enterprises: From 72.61% to 74.72%
• Adani Green Energy: From 56.37% to 57.52%
• Adani Power: From 71.75% to 72.71%
• Adani Energy Solutions: From 73.22% to 74.94%

An increase in promoter shareholding is generally seen as a positive sign – that the promoter is bullish on the company’s prospects. The Adani promoters’ shareholding also reached close to 75% in Adani Enterprises, the group’s flagship firm, and Adani Green Energy, which operates in the sunrise renewables sector. While in Ambuja Cements, the promoters have infused stakes multiple times as India’s number two cement company prepares to take on its bigger rival Ultratech.

The promoter holdings in Adani Wilmar, Adani Ports and SEZ, Adani Total Gas, and ACC, on the other hand, did not change from the prior quarter.

The Adani Group companies have been in the news for the last few years for an astounding stock rally, which drove its founder Gautam Adani’s name into the list of the world’s richest men. This was followed by a scathing report by US-based Hindenburg Research, which accused the Gautam Adani family of stock manipulation and running shell companies overseas.

Shares of Adani Group companies fell as much as 80% following the release of the Hindenburg report but have recovered since, with many group stocks now trading above their pre-Hindenburg levels.

The Adani Group has denied any wrongdoing. The Supreme Court recently dismissed a plea to order a CBI probe into affairs of the group.

Meanwhile, most of the Adani Group stocks were trading flat on Monday, swinging between red and green.