Mutual Funds' Exposure To Adani Group Stocks
A large part of mutual fund holdings in Adani Group stocks are through exchange traded funds and index funds.
Adani Group stocks have been in focus this past week on account of the country's largest follow-on public offer by Adani Enterprises as well as allegations leveled by the U.S.-based short-selling research firm, Hindenburg Research.
The group's listed companies have witnessed heavy selling leading to erosion in the net asset value of a number of mutual fund schemes.
According to the latest available shareholding data on BSE, as on Dec. 31, the major exposure to Adani Group stocks was in those that are constituents of the benchmark Nifty 50 index.
As a percentage of market capitalisation on Dec. 31, mutual funds held 8% in ACC Ltd., 7.6% in Ambuja Cements Ltd., 4.4% in Adani Ports & SEZ Ltd. and 1% in Adani Enterprises Ltd.
A large part of the holdings by mutual funds are through exchange traded funds and index funds.
Here's a look at the top holdings by mutual funds at the end of December:
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.