Gautam Adani: Adani Group’s shares may return in five years, predicts GQG’s Rajiv Jain – adani stocks could be multibaggers over five years claims gqg’s rajiv jain
Due to the Hindenburg report, the market cap of the listed companies of Adani Group has declined by more than $ 120 billion. Last month, SB Adani Family Trust sold around 21 crore shares of four Adani Group companies through the open market. GQG Partners 2.84 crore shares of Adani Transmission at Rs 668.4, 3.87 crore shares of Adani Enterprises at Rs 1,410.86, 8.86 crore shares of Adani Ports at Rs 596.2 and 5.56 crore shares of Adani Green Energy were bought at a price of Rs 504.60 per share.
Why will the shares jump
Jain says Adani Group’s majority stake in coal mining assets, data centers and Mumbai’s international airport are signs of a healthy business. He said that the cost of the airport itself could be more than the company. Its land is included in the most expensive real estate properties in Asia. Jain said that the Hindenburg Research report about the Adani Group does not make any difference to him. He said, ‘The report says that he has more than 75 per cent stake. Is this a fraud? Jain holds 69 per cent stake in GQG Partners. He founded this company in 2016.
Adani Group: Gautam Adani turns the tables, shares of seven companies rise, Adani Enterprises jumps the most
Meanwhile, cargo movement at nine ports operated by Adani Group’s Adani Ports and Special Economic Zone Ltd (APSEZ) grew by nine per cent during the fiscal ended March 31. The company said in a statement that in March the company loaded and unloaded about 32 million tonnes of goods, which is 9.5 percent higher on an annual basis. This is the first time since July 2022 that this figure has crossed three crore tonnes. The company said that between April 2022 and March 2023, the APSEZ handled 339 million tonnes of cargo, which is its highest figure with a nine percent increase on an annual basis.
