MFs pump over Rs 2,800 crore into Adani group stocks in June

Mutual funds displayed strong buying interest in Adani Group stocks during June, with net inflows exceeding Rs 2,800 crore across the group’s listed companies. Mutual funds were net buyers in seven out of the group’s eight publicly traded entities, with ACC being the only exception, witnessing net outflows. This continued accumulation highlights rising institutional comfort with the conglomerate, following months of controversy and regulatory scrutiny.

Adani Ports and SEZ and Adani Energy Solutions emerged as the top two picks during the month, attracting investments of Rs 900 crore and Rs 800 crore, respectively. Among the major investors in Adani Ports and SEZ, Kotak Mahindra Mutual Fund led the pack with a purchase of shares worth Rs 476 crore, followed by Aditya Birla Sun Life Mutual Fund, which invested Rs 208 crore.

In Adani Energy Solutions, Invesco Mutual Fund was the largest buyer, acquiring shares worth Rs 180 crore. This was followed by ICICI Prudential, SBI, and Kotak Mahindra Mutual Funds, each investing over Rs 100 crore in the stock.

Other Adani Group companies also garnered significant mutual fund inflows during the month. Adani Enterprises attracted Rs 735 crore, Adani Green Energy saw Rs 355 crore in investments, while Ambuja Cements drew Rs 195 crore. On the contrary, ACC witnessed net outflows of Rs 244 crore.

In Adani Enterprises, Kotak Mahindra Mutual Fund was the leading investor with Rs 321 crore, followed by Invesco and Quant Mutual Funds, which invested Rs 102 crore and Rs 78 crore, respectively. Tata and ICICI Prudential Mutual Funds also participated, each investing over Rs 50 crore. Meanwhile, Invesco and Quant Mutual Funds led the buying in Adani Green Energy, with each investing over Rs 80 crore.

ACC was the only Adani Group stock to see net selling by mutual funds. ICICI Prudential Mutual Fund was the top seller, offloading shares worth Rs 139 crore, followed by Kotak Mahindra and UTI Mutual Funds, which sold shares worth Rs 67 crore and Rs 55 crore, respectively.