LIC, Mutual Funds reduce stake in Adani Ports in Q4FY23

11 Apr 2023 , 01:57 PM

Various mutual fund schemes have reduced their stake in Adani Ports during the last quarter of financial year 2023, while the foreign investors have increased their shareholding through investment from US-based GQG Partners.

As per the latest shareholding pattern shared with NSE and BSE, the combined stake of mutual funds stood at 3.09% at the end of March quarter, compared with 4.43% as of December 2022. Mutual funds offloaded 61,534 Adani Ports’ shares or 1.34% stake during Q4FY23

On the other hand, LIC, the biggest institutional investor of India had also reduced stake. The company reduced stake from 9.14% to 9.12% in the March quarter.

On Monday, Adani Ports stock closed 1.66% higher at Rs 652.25 apiece on NSE. So far this year, the shares have fallen as much as 21% on a year-to-date basis. The shares of the company are traded at Rs 653.90 at 1.55 PM with 0.28% higher from yesterday.