How Adani bull Rajiv Jain’s GQG reshuffled 13-stock portfolio in election season
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In the election-heavy June quarter, NRI investor Rajiv Jain-led GQG Partners raised stakes in 3 Adani stocks - Adani Energy, Adani Enterprises and Adani Ports - and its biggest India bet ITC. The institutional investor, on the other hand, was seen paring stakes in IDFC First Bank and Patanjali Foods in Q1 of FY24. Adani stocks After having shot to limelight for investing Rs 15,446 crore in four Adani stocks in the peak of the Hindenburg crisis in March last year, GQG's India portfolio has now surged to nearly Rs 90,000 crore with 13 stocks in the bouquet, shows data pulled from ACE Equity. During the quarter, the boutique investment firm was seen buying 3.81 lakh shares of Adani Energy, 2.46 lakh shares of Adani Enterprises and 11.14 lakh shares of Adani Ports. GQG booked profits in Adani Power and Ambuja Cements. While GQG's largest bet is Adani stocks as a conglomerate, its single largest bet remains ITC, the shares of which rec...