GQG Invests ₹5,094 Crore More in Key Adani Firms
Early on Tuesday, while the market was still settling into its first hour of trade, GQG Partners carried out a new set of sizeable block deals across five of the group’s listed companies. The investment firm deployed a combined ₹5,094 crore to pick up shares in Adani Enterprises, Adani Ports and SEZ, Adani Green Energy, Adani Energy Solutions and Adani Power. All the blocks were sourced from Reliance Trust linked entities.
Since Reliance Trust offered large blocks across five Adani entities, the transactions appear to have been driven mainly by the availability of bulk liquidity. Block deals often give institutions like GQG an opportunity to increase their positions without disturbing open-market prices, which likely explains both the scale and the timing of these purchases.
Why is Rajiv Jain backed GQG Partners once again adding to its positions in the Adani Group, and what does this fresh round of block deals reveal about how global investors are viewing the conglomerate’s prospects?
Where Has GQG Increased Its Exposure?
Adani Enterprises
The largest of the group’s companies saw GQG Partners International Equity CIT purchase 53.42 lakh shares at a block price of ₹2,462 per share. The transaction value came in at ₹1,315.20 crore, with Reliance Trust Institutional Retirement Trust Series Eleven acting as the seller.
GQG already held 1.75%, or 2.01 crore shares, as of 30 September 2025. With this addition, the fund has deepened its presence in the group’s incubation platform, which houses several of its growth stage businesses.
Price context: The stock opened today at ₹2,446.50, while yesterday’s closing price stood at ₹2,436.80.
Adani Ports and Special Economic Zone
In this counter, GQG accumulated around 73.17 lakh shares in two blocks priced at ₹1,507.6 each. The total deal value worked out to ₹1,103.14 crore. Reliance Trust was also the seller here.
As of the September quarter, GQG held 2.42%, a little over 5.21 crore shares. Ports and logistics have benefited from stronger cargo volumes this year, and that steady operational backdrop may be one reason for the continued interest.
Price context: The stock opened today at ₹1,499 against a previous close of ₹1,495.
Adani Green Energy
GQG picked up more than 77 lakh shares spread across three blocks at ₹1,088.6 per share. The total purchase came to ₹842.53 crore.
The firm had a 2.46% stake, representing over 4.04 crore shares, as of 30 September. Investors with a multi-year outlook tend to view renewable energy as a scale story, and GQG’s steady buying suggests confidence in the company’s long-term cash flow build out.
Price context: The stock opened today at ₹1,080.22, slightly above yesterday’s close of ₹1,077.60.
Adani Energy Solutions
In the utilities arm, GQG acquired 53.94 lakh shares at a price of ₹1,021.55 each, putting the deal value at ₹551.08 crore.
The fund held 1.86%, or over 2.23 crore shares, at the end of the September quarter. Transmission and distribution projects tend to interest investors who prefer predictable earnings streams, and this transaction aligns with that theme.
Price context: The stock opened at ₹1,032, compared with yesterday’s close of ₹1,026.65.
Adani Power
This name saw the heaviest buying in terms of volume. GQG bought 83.61 lakh shares across three blocks priced at ₹153.28 each, amounting to ₹1,281.57 crore. The firm already owned 1.54%, or more than 29.23 crore shares, as of September.
The thermal power segment has been seeing renewed attention because of rising electricity demand and more stable payment cycles, factors that may have encouraged further accumulation. Price context: The stock opened at ₹150.30 against a previous close of ₹149.55.
What Does This Wave of Buying Suggest?
Across the group, GQG’s aggregate exposure has expanded meaningfully over the past three years. Tuesday’s purchases add to that trajectory and hint at the fund’s belief that earnings visibility across the energy, ports and utilities businesses is becoming clearer.
The broader takeaway for the market is that long horizon investors continue to participate in India’s infrastructure development cycle, even as day to day price moves remain driven by short term positioning.
Conclusion
With markets still trading, many investors will be watching intraday flows and looking for signs of follow up demand in Adani Group stocks. A natural next question is whether other global funds, particularly those that specialise in emerging markets, will adopt a similar accumulation strategy over the coming months.
Sources
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
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