Adani stocks characterised by similar set of FPIs, low mutual fund holdings

New Delhi: Adani Group stocks may have been on fire in recent months adding to Gautam Adanis wealth but an analysis of shareholdings reveals similar set of top FPI holdings across the stocks.

In addition, in many cases, institutional and mutual funds holdings have decreased in the March 2021 quarter. In addition, mutual fund holdings in the stocks are very low.

The Adani Group stocks also have the same set of foreign portfolio investors among the big shareholders in that category. Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in Adani Group Companies were in a controversy yesterday on reports that their share accounts were frozen but was later clarified that they are active.

As per Trendlyne data, for Adani Green Energy, institutional Investors have decreased holdings from 23.09% to 21.77% in March 2021 quarter. Mutual Funds have decreased holdings from 0.13% to 0.12% in March 2021 quarter. The top FPs are Asia Investment Corporation (Mauritius), APMS Investment Fund, Elara India Opportunities Fund, LTS Investment Fund. Marshal Global Capital Fund and Polus Global Fund are not found among top FPI holders in other Adani Group stocks. The others are Vespera Fund, Albula Investment Fund. New Leania Investments is also not among the similar funds list for other stocks.

For Adani Ports, institutional Investors have decreased holdings from 33.5% to 32.8% in the quarter. Mutual Funds have decreased holdings from 3.95% to 3.55% in March 2021 quarter. Camas Investments is the top FPI while LIC holds 10.77 per cent in the domestic category.

For Adani Enterprises, institutional Investors have decreased holdings from 21.5% to 21.35% in the said quarter. Mutual Funds have decreased holdings from 1.09% to 0.73% in the quarter. The top FPIs are Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund, Vespera Fund, LTS Investment Fund, APMS Fund. Apart from these funds which are similar to other Adani Group stocks, the new addition is Nomura Singapore.

In the case of Adani Power, Institutional Investors have decreased holdings from 18.88% to 18.61% in March 2021 quarter. Mutual Funds holding remains unchanged at 0.0% in the quarter. The top FPI holders are Elara India Opportunities Fund and Asia Investment Corporation (Mauritius).

For Adani Transmission, the story is different with institutional Investors have increased holdings from 22.47% to 22.84% in March 2021 quarter. Mutual Funds have decreased holdings from 0.14% to 0.12% in the quarter. The same funds are top shareholders in the institutional category and only Asia Investment Corporation (Mauritius) is added in the category.

In the case of Adani Total Gas, institutional Investors have increased holdings from 21.05% to 21.27% in the quarter. Mutual Funds holding remains unchanged at 0.02% in March 2021 quarter. The major FPIs are Elara India Opportunities Fund, APMS Investment, Albula Investment, LTS Investment, Vespera Fund, Cresta Fund, as per Trendlyne data.

The Adani Group stocks also have the same set of foreign portfolio investors among the big shareholders in that category.