GQG further cuts stake in Adani Energy to 3.46%; Adani stocks where it trimmed holdings

Adani Energy Solutions Ltd on Thursday said its investor GQG Partners has further cut its stake in the company to 3.46 per cent as of August 31 from 4.14 per cent at the end of June quarter.  This marks at least the second straight quarter of selling by GQG in the Adani group firm. Adani Power Ltd, Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd and Adani Green Energy Ltd were four Adani names where GQG had cut stakes in the June quarter, data compiled from corporate database AceEquity suggests.

GQG is a Lauderdale-based asset management firm led by Rajiv Jain, which was the first big investor in Adani group stocks following Hindenburg Research allegations in January 2023 that wiped $150 billion off Adani group market capitalisation. GQG's trimming of Adani exposure comes as the Adani stocks it holds have delivered 25-56 per cent returns since March 31.

Adani Green stake cut 
GQG held 4,22,95,699 Adani Energy shares at the end of August, Adani Energy informed stock exchanges on Thursday. This was against 4,97,96,193 shares it held in Adani Energy at the end of June quarter.

GQG's stake in Adani Energy was through Goldman Sachs Trust Ii - Goldman Sachs GQG Partners International Opportunities Fund and GQG Partners Emerging Markets Equity Fund. It cut its stakes in Adani Energy by 74 basis points in the June quarter over 4.88 per cent in the March quarter.

Adani stocks where GQG trim stakes
Earlier, GQG Partners had trimmed stake in Adani flagship Adani Enterprises Ltd by 184 basis points to 2.06 per cent in the June quarter from 3.90 per cent in the March quarter. The investment manager reduced its stake in Adani Green Energy by 72 basis points to 3.82 per cent in Q1FY27 against 4.54 per cent in Q4FY26. In Adani Ports, it trimmed stake by 33 basis points to 1.93 per cent from 2.26 per cent. Adani Power's stake was reduced to 3.03 per cent from 3.31 per cent.