Adani stocks gain over Rs 71,000 crore in July. Check top gainers

With investors training their attention back to valuations and business fundamentals after the Hindenburg-led crash, Adani Group stocks inched higher by 7% month-on-month in July. The combined market capitalisation of all 10 Adani stocks went up by Rs 71,575 crore to Rs 10.8 lakh crore in the month.

Adani Green Energy, which reported a 51% jump in its Q1 profit, was the biggest gainer last month as the stock ended 16% higher in July. The Ahmedabad-based conglomerate's cement units - ACC and Ambuja Cements - also saw an upside of 11% and 9%, respectively.

Shares of Adani Power rose 9% while the group's cash cow went up 5%, followed by another 5% upmove in Adani Enterprises.



"The allegations from the Hindenburg episode have been thoroughly dismissed by the market, and investors are shifting their attention to the improving valuations amid strong growth prospects for the group," said a market strategist at a domestic brokerage house.

Adani Energy Solutions, which was earlier known as Adani Transmission, ACC and Adani Green have already announced their July quarter numbers while Adani Total Gas will release its Q1 figures later in the day.

Ambuja, Adani Ports, Adani Power and Adani Enterprises are scheduled to release their report cards in the next few days.

Adani Green stock would remain in focus as its management will meet Avendus Spark, Emkay Global and Motilal Oswal separately in between August 16-22. Global brokerage firm Nomura has also shown interest in participating in a credit analyst and investor meeting on August 30.

In a recent disclosure to stock exchanges, the Adani Group has declared that US-based GQG Partners has picked another 3% stake in Adani Energy, taking its total ownership in the stock to 6.54%.

According to the latest June quarter shareholding pattern, mutual funds increased their stakes in 7 out of 10 listed Adani Group companies, while FPIs reduced their ownership in 6 companies.

In Adani Enterprises, MF ownership increased to 1.18% as of June end. In ACC, MF holding went up to 9.21% from 8.90%. After owning nearly nothing in Adani Power until a few quarters ago, MFs now hold a 0.04% stake in the company.

In Adani Green Energy, Adani Total Gas, and Adani Energy, their stake went up marginally to 0.11%, 0.13%, and 0.14%, respectively.

Having raised Rs 1,250 crore through a bond sale last month, Adani Group is planning to raise another 15,000 crore from the bond market.

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