State Bank of India Mutual Fund Acquires 1.27% Stake in Adani Enterprises

Market Movers: SBI Mutual Fund Buys into Adani Enterprises and Energy Solutions

SBI Mutual Fund has acquired a 1.27 percent stake in Adani Enterprises and picked up additional shares worth Rs 958 crore in Adani Energy Solutions from Rajiv Jain's GQG Partners via block deals on June 5. This significant investment may have contributed to the healthy rally in both stocks, which saw above-average volumes.

Adani Enterprises shares hit a fresh 52-week high before closing 2.54 percent higher at Rs 3,048.2, the highest closing level since October 10, 2024. Adani Energy Solutions also touched a fresh one-year high of Rs 1,591.4, before finishing 3.88 percent higher at Rs 1,579, the highest closing level since February 1, 2023.

SBI Mutual Fund acquired 63.65 lakh shares (0.52 percent) in Adani Energy Solutions for Rs 957.9 crore from GQG Partners Emerging Markets Equity Fund at a transaction price of Rs 1,504.8 per share. The fund house also acquired 1.64 crore shares (1.27 percent stake) in Adani Enterprises from GQG Partners Emerging Markets Equity Fund for Rs 4,789.6 crore, at a price of Rs 2,913.4 per share.

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SBI Mutual Fund's investment in Adani Enterprises has taken its stake to 1.27 percent, while its stake in Adani Energy Solutions stands at 0.52 percent.

Meanwhile, Viridian Asia Opportunities Master Fund has bought 18.96 lakh shares (0.1 percent stake) in Lenskart Solutions from Copthall Mauritius Investment for Rs 96.42 crore at Rs 508.55 per share. The stock was down 1.29 percent to Rs 506.45.

Motilal Oswal Mutual Fund has bought 36.48 lakh shares (0.74 percent stake) in Sterlite Technologies, the optical and digital solutions company for Rs 225.86 crore. The buying price was Rs 619.07 per share. However, Sterlite shares were down by 4.96 percent to Rs 619.25 on the National Stock Exchange.

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Invesco Developing Markets Fund sold 78.85 lakh shares (0.68 percent) in Pine Labs for Rs 115.11 crore at Rs 145.97 per share, while promoter P N Gadgil & Sons has bought additional 1.6 lakh shares (0.5 percent stake) in PNGS Reva Diamond Jewellery for Rs 6.26 crore at Rs 391.58 per share.