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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Several Mauritius-based investment funds have Gautam Adani-led companies as over 90% of their portfolios. Why?
Editor's note: 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. For Elara India Opportunities Fund, the only India opportunity seems to lie with the Gujarat-headquartered group—97% of its net worth comes from Adani companies. It’s the same for Albula Investment Fund Ltd, with 95% of its net worth coming from Adani Group stocks. For Cresta Fund, 97% of its net worth is from just three Adani group companies, while 96% of Apms Investment Fund Ltd’s net worth comes from four Adani companies. More of the same for LTS Investment Fund …
FY26 numbers show that Airtel is stealing a march on its larger rival on most counts and is unrelenting in its ambition, casting a cloud on Jio’s valuation.
A proposed SEC settlement lifts the biggest overhang on the Adani Group—its access to US capital markets.
Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
