Mumbai: In the middle of a falling stock market, Adani Group’s shares saw a strong rise. This happened after India’s market regulator SEBI gave the group a clean chit in the Hindenburg Research case. Because of this, Adani Group’s total market value increased by Rs 46,000 crore in a single day.
Adani Enterprises was trading at Rs 2,565, up 6.80 percent.
NRI Investor GQG Partners Earns Big
The biggest winner of the day was Rajiv Jain, an NRI investor and head of GQG Partners. His company has invested in several Adani companies like Adani Energy Solutions, Adani Enterprises, Adani Ports, Adani Power, and Adani Green Energy. These stocks went up by as much as 9 percent, giving GQG Partners a profit of around Rs 1,840 crore in one day.
GQG's Investment Value Nears Rs 50,000 Crore
The value of GQG’s investments in Adani stocks rose from Rs 47,333 crore to Rs 49,172 crore in just one trading session. Back in January 2023, when Hindenburg had accused Adani Group of fraud, GQG Partners had taken a big bet by investing in the group’s shares. That decision is now paying off in a big way.
