Block deals worth $1 bn in Adani stocks
New Delhi, June 28
US-based boutique investment firm GQG Partners and other foreign investors have bought close to $1 billion of additional stakes in Adani Group companies as Gautam Adani continues to rebuild market confidence since hit by a damning report of a US short-seller.
The investors bought 18 million shares, or 1.6%, from the Adani family in the Group’s flagship Adani Enterprises Ltd in a single block trade. In the renewable energy firm Adani Green Energy, a total of 35.2 million shares, or 2.2%, changed hands, sources aware of the matter said.
Stock market data showed large block trades in both companies in early Wednesday trading.
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