Wed. Sep 27th, 2023
    Investment Firm GQG Partners Increases Stake in Adani Ports and Special Economic Zone Ltd.

    Investment firm GQG Partners has raised its stake in Adani Ports and Special Economic Zone Ltd. to 5.03% after purchasing more shares, according to a disclosure made by GQG on August 17. Previously, GQG Partners held a 4.93% stake in Adani Ports and has now acquired an additional 0.10% through a bulk deal, equivalent to 2.2 million shares.

    This investment comes in the wake of Deloitte stepping down as the auditor for Adani Ports. Deloitte’s decision marks the first such move following the publication of a critical report on the Adani group by U.S. short-seller Hindenburg Research in January. The Adani group has refuted all of Hindenburg’s allegations.

    Reuters had previously reported that GQG Partners purchased an 8.1% stake in Adani Power for $1.1 billion via a block deal.

    GQG Partners’ increased stake in Adani Ports demonstrates their continued confidence in the company and its future prospects. Adani Ports and Special Economic Zone Ltd. is a leading Indian port operator and has experienced significant growth in recent years. The company operates a vast network of ports across the country, providing crucial infrastructure for India’s trade and commerce.

    As the investment landscape continues to evolve, it is important for investors to closely monitor the movements and decisions of major investment firms like GQG Partners. These firms often provide valuable insights into market trends and can influence the performance of various stocks and sectors.

    – GQG Partners disclosure
    – Reuters report