Several Mauritius-based investment funds have Gautam Adani-led companies as over 90% of their portfolios. Why?
What would you call it if, year after year, certain foreign funds invested the bulk of their assets in the companies belonging to one corporate group? Despite the stocks reaching all-time highs, these funds have seldom booked profits and reduced their holding in the group companies.
That is just what a set of foreign funds or foreign portfolio investors (FPIs in market parlance) who appear to be obsessed with stocks of Adani Group companies have done. Despite the recent rally in the Adani stocks, when the group entered the coveted $100 billion dollar club, these funds have rarely booked profits. …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com