Adani Power, Adani Wilmar, ACC shares: 3 Adani stocks that desi fund managers bought in May

Adani Power Ltd, Adani Wilmar Ltd and ACC Ltd were three Adani group stocks where mutual funds increased stakes in May. This is against six other group shares where mutual funds trimmed exposure to, data compiled from PRIME Database suggests.

The biggest buying was seen in shares of ACC. Mutual funds managed 1,70,41,920 shares or 9.08 per cent, stake in ACC as on May 31 against 1,59,89,560 shares or 8.51 per cent stake in May. Domestic funds owned Rs 3,028.69 crore worth ACC shares at May end against Rs 2,818.72 crore at April end. ACC shares, which were up 1.19 per cent in May, have risen another  3.9 per cent in June so far.

Mutual fund buying in Adani Power and Adani Wilmar was insignificant in value terms. In Adani Power 15,65,863 shares in May against 14,85,787 shares in April while in Adani Wilmar they owned 7,77,746 shares in May against 7,76,021 shares in April.

Shares of Adani Power have been rising for fourth months now. They were up 11.22 per cent in May and are up 7.92 per cent so far in June. Shares of Adani Wilmar, on the other hand, rose 5.75 per cent in May but are flattish this month.

Adani Enterprises Ltd, Adani Ports & SEZ Ltd, Adani Total Gas Ltd, Adani Green Energy Ltd, Adani Transmission Ltd and Ambuja Cements were, meanwhile, six Adani group companies, where mutual fund houses cut stakes to, in the month gone by. Five of these six stocks had risen up to 30 per cent during the month, suggesting profit booking moves by institutional investors.

Data showed mutual funds reduced stake in Adani Enterprises to 1,13,70,391 shares or 1 per cent in May from 1,16,50,252 shares or 1.02 per cent in April. These shares amounted to Rs 2,835.04 crore in May against Rs 2,242.62 crore in April end, as per data compiled by PRIME Database. The stock surged 29.65 per cent in May.

Domestic fund managers cut stake in Adani Ports to 6,54,90,803 shares or 3.03 per cent in May against 6,83,90,343 shares or 3.17 per cent in April. MFs held Rs 4,838.79 crore worth Adani Ports stocks in May compared with Rs 4,659.43 crore in May. This stock was up 8.23 per cent in May.

In Ambuja Cements, mutual funds reduced stake to 11,29,70,565 shares or 5.69 per cent in May from 11,61,78,999 shares or 5.85 per cent. That said, the value of their holding in this Adani company increased to Rs 4,785.43 crore from Rs 4,606.50 crore, thanks to a 6.88 per cent rise in Ambuja Cements shares in May.

Adani Green Energy, Adani Total Gas and Adani Transmission are three Adani stocks where MFs held Rs 225-135 crore worth shares at May end.

Also read: Adani Enterprises, Adani Ports, Adani Total Gas, Adani Green shares: MFs sold 6 Adani stocks in May

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