Adani Bribery Allegations: Which Mutual Funds Adjusted Holdings in October

On November 22, 2024, Adani Group shares faced continued selling pressure following bribery charges against Gautam Adani and other executives, filed by the U.S. District Court and SEC. In light of these developments, it becomes essential for mutual fund investors to review their exposure to Adani stocks.

Adani Stocks Shuffle

Check out which mutual funds bought or sold shares of Adani Enterprises, Energy Solutions, Ports & SEZ, and Power in October.

Mutual Fund Moves

Mutual Fund Activity in Adani Enterprises

In October 2024, Adani Enterprises shares saw active trading by mutual funds, with 83 funds purchasing and 20 selling, resulting in a net addition of 46.07 lakh shares.

The Quant Small Cap Fund Growth added 24.68 lakh shares (0.21% of equity). Conversely, the Invesco India Arbitrage Fund Growth offloaded 7.57 lakh shares (0.07% of equity), making it the top seller, as per Trendlyne data.

Mutual Fund Activity in Adani Ports & SEZ

The SBI Focused Equity Fund Growth acquired 7 lakh shares (0.03% of equity), making it the largest buyer.

 Meanwhile, the Kotak Balanced Advantage Fund Regular Growth reduced its stake by selling 10.54 lakh shares (0.05% of equity), the most among sellers.

Mutual Fund Activity in Adani Power

The SBI Nifty India Consumption Index Fund was the top buyer, adding 98,629 shares. 

At the same time, the Tata Equity P/E Fund emerged as the largest seller, selling 19.99 lakh shares (0.05% of equity).

Mutual Fund Activity in Adani Energy Solutions

The ICICI Prudential Nifty Next 50 ETF was the most prominent buyer, while the Tata Retirement Savings Progressive Fund Growth led the selling activity in this segment.

Adani Group Companies Share Price Performance

On November 22, 2024, Adani Enterprises share price traded 3.31% lower at ₹2,111.35, while Adani Ports & SEZ share price was down 3.05% at ₹1,080.70 at 10:30 AM on NSE.

Adani Power share price traded 2.16% lower at ₹465.85, while Adani Energy Solutions share price fell 8.78% to ₹636.45 on NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.