Among SBI Mutual Fund‘s prominent additions was Adani Energy, as the former bought 73.73 lakh shares in the power transmission company for an estimated price of Rs 743 crore according to a Nuvama report.
Tata MF also bought 24.75 lakh shares of Adani Energy at an estimated price of Rs 249 crore.
The report also mentioned APSEZ among the top new entries for Nippon MF, though the details of the transaction were not revealed. According to Nuvama, this stock was also among top purchases by HDFC MF, though the details were not disclosed.
Invesco MF added Adani enterprises’ 11.20 lakh shares at a cost of Rs 338 crore. The same fund house also bought 38.93 lakh shares of Ambuja Cements valued at Rs 240 crore.
Meanwhile, Aditya Birla Sun Life MF pared-off its holding in ACC. It sold 6.72 lakh shares for Rs 157 crore. This mutual fund held 1.54% stake in the cement maker ACC as on June 30, 2024. Adani Energy Solution shares have been market laggards for the last one year with returns of 15% versus 25% given by the Nifty in the same period. In 2024, so far, the stock price has declined by 7%.One year returns by Adani Ports, Adani Enterprises, Ambuja and ACC are 71%, 18%, 41% and 24%, respectively.
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