Adani Enterprises, Adani Ports, Ambuja Cements shares saw MF selling in Feb; 5 Adani group stocks on buy radar

Mutual funds were seen trimming stakes in four Adani group shares in February, including the group flagship Adani Enterprises. The institutional investor category was seen buying small quantities of five other Adani companies including Adani Green, Adani Power and Adani Transmission, data compiled by PRIME Database suggests. The month saw high volatility in Adani group stocks, thanks to a flurry of news developments post the Hindenburg Research scathing report.

Adani Ports & SEZ (Adani Ports) and Ambuja Cements were two Adani group companies, where domestic fund houses cut stakes by more than 100 basis points. Mutual funds' holding in Adani Ports dropped to 3.46 per cent in February from 4.80 per cent in January. Funds held 7,48,26,083 shares in Adani Ports in February against 10,37,30,269 shares in January.

They reduced stake in Ambuja Cements to 6.05 per cent from 7.43 per cent a month ago.  In the case of flagship Adani Enterprises, MF holding fell below 1 per cent in February. It stood at 0.88 per cent in February against 1.02 per cent in January. Adani Total Gas saw MFs trimming their stake to 14,01,990 shares or 0.13 per cent from 14,97,398 shares or 0.14 per cent.

Meanwhile, five Adani group shares saw MF buying for the month. The purchases were, though insignificant.  ACC saw MF holding rising to 9.02 per cent from 8.63 per cent. In Adani Green, MF holding stayed at 0.11 per cent, but number of shares they held in the Adani company increased to 17,70,894 from 17,40,150. In Adani Power, MF holding  increased to 2,10,084 shares from 1,93,353 shares.

Adani Transmission saw MF holding rising to 14,28,798 from 14,02,169 while Adani Wilmar saw MF holding jump to 2,50,875 shares from 2,41,651 shares.

Net-net, Adani Ports at Rs 4,433 crore remained the biggest MF bet among the Adani group names. It was followed by Ambuja Cements (Rs 4,110 crore), ACC (Rs 2,934 crore) and Adani Enterprises (Rs 1,369.29 crore).

January update

In Jnuary, MF had cut their holdings in Adani Enterprises to 1,16,54,223 shares or 1.02 per cent as on January 31 from Rs 1,32,12,030 shares or 1.16 per cent as of December 31. In value terms, that Adani Enterprises' holding amounted to Rs 3,465.85 crore at January end against Rs 5,097.66 crore at December end, as per PRIME Database. Mutual Funds cut holdings in Ambuja Cements to 14,76,25,066 shares or 7.43 per cent in January from 15,65,85,479 shares or 7.89 per cent in December, PRIME Database suggested.

In Adani Transmission, MFs held 14,97,398 shares in January against 15,08,510 shares in December. In Adani Green Energy, domestic funds held 17,40,150 shares at January end against Rs 19,36,368 shares at December end. Also in Adani Transmission, mutual funds reduced holding to 14,02,169 shares from 15,25,061 shares. Institutions, which have exposure to Adani group stocks, were in focus after the Hindenburg report. SBI and LIC even in fact came out with statements to soothe investor nerves.ACC, Adani Ports & SEZ, Adani Power and Adani Wilmar were among Adani group stocks, which saw mutual fund buying in January.

Also read: Adani Enterprises, Adani Green, Adani Ports, Adani Wilmar, Adani Transmission shares in focus today post trend reversal

Also read: Vedanta shares in focus as metal firm repays $100 million to Standard Chartered Bank