Despite the mayhem in Adani Group shares in the last week of January 2023, DSP Mutual Fund raised stake in six Adani Group stocks last month. The asset management company (AMC) raised its stake in ACC, Ambuja Cements, Adani Ports and Special Economic Zone, Adani Transmission, Adani Green Energy and Adani Total. Adani shares fell heavily after a Hindenburg Research report raised concerns over the debt position of Adani group companies. The report was published on 24 January 2023, which led to heavy selling from 25 January 2023.
Here we list the complete details regarding DSP Mutual Fund’s shareholding in the above mentioned Adani Group shares:
1]ACC: As on December 31, 2022, the holdings of DSP Mutual Fund were 17,01,917 acc shares, which constituted 0.91 per cent of the total paid-up capital of the Adani group company. As on January 31, 2023, DSP Mutual Fund holds 17,41,561 ACC shares, constituting 0.93 per cent of the total paid-up capital of the company. This means that the AMC increased its stake in this Adani group company by adding an additional 0.02 per cent ACC stock to its portfolio despite reports of US-based short sellers. ACC share price has fallen from 2,335 1,845 each in the last 14 seasons.
2]Ambuja Cements: As on 31 Jan 2023, DSP Mutual Fund has 46,91,706 Ambuja Cements shares or 0.24 per cent stake in the company which amounted to 34,10,705 shares or 0.17 per cent of the total paid-up capital of the company. This means AMC will increase its stake from 0.17 per cent to 0.24 per cent in January 2023, leaving the Hindenburg Research report in limbo. Ambuja Cements share price has fallen all around from 500 345 per share level in last 14 sessions.
3]Adani Transmission: Despite heavy selling pressure at the end of January 2023, AMC has increased stake in this Adani group stock. As on December 31, 2022, DSP Mutual Fund held 25,637 shares of the company as against 26,576 as on January 31, 2023. Adani Transmission Share price has crashed all around from 2,760 1,020 per share level post-Hindenburg Research reports.
4] Adani Ports And Special Economic Zones: In this flagship Adani Group company, DSP Mutual Fund held 22,23,965 shares or 0.10 per cent stake as on December 31, 2022, rising to 28,89,891 Adani Ports shares or 0.313 per cent stake in the company as on January 31, 2023. This means, AMC will increase its stake in this Adani group company from 0.10 per cent to 0.13 per cent in January 2023. since 760 570 per share level in last 14 sessions.
5]Adani Green Energy: In this Adani Group stock, the AMC will increase its holding from 32,036 Adani Green shares in December 2022 to 33,199 shares in January 2023. In the last 14 seasons, Adani Green Energy Shares have declined all around 1,915 tom 620 each level.
6]Adani Total: DSP Mutual Fund held 25,276 Adani total shares as on 31st December 2022 which went northwards to 26,194 shares as on 31st January 2023. In last 14 trading sessions, Adani Total Gas share price has fallen. from 3,890 1,075 each level.
“Following the Hindenburg report, the holding of Adani Group shares has been increased in all schemes, where in fully hedged positions by using stock futures for arbitrage opportunities, resulting in no exposure to fall in share prices. There is no inherent economic risk. In addition to such hedged exposure, there will be some marginal increase in holdings in our ETFs, index funds and smart beta quant funds,” Anil Ghelani, head – passive investments and products, DSP Investment Managers told Mint.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.