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DSP Mutual Fund will buy more shares of these 6 Adani shares in January amid the Hindenburg collapse

Despite the bloodbath in Adani Group shares in the last week of January 2023, DSP Mutual Fund increased its stake in six Adani Group stocks in the past month. The asset management company (AMC) increased its stake in ACC, Ambuja Cements, Adani Ports & Special Economic Zone, Adani Transmission, Adani Green Energy and Adani Total.

 Adani shares took a huge beating after a Hindenburg Research report raised concerns about the debt holdings of Adani group companies. The report was published on January 24, 2023, which led to a large selloff from January 25, 2023.

Here are the full details regarding DSP Mutual Fund’s stake in the above Adani Group shares:

1] ACC: As on December 31, 2022, the DSP mutual fund held 17,01,917 shares of ACC, which was 0.91 per cent of the total paid-up capital of the Adani group company. As on January 31, 2023, the DSP Mutual Fund holds 17,41,561 shares of ACC, which is 0.93 percent of the company’s total paid-up capital.

 This means AMC increased its stake in the Adani group company by adding an additional 0.02 percent of ACC shares to its portfolio despite the US short seller report. The stock price of ACC fell from ₹ 2,335 to ₹ 1,845 apiece in the last 14 sessions.

2] Ambuja Cements: As on January 31, 2023, DSP Mutual Fund holds 46,91,706 shares of Ambuja Cements or 0.24 percent stake in the company, representing 34,10,705 shares or 0.17 percent of the company’s total paid-up capital.

That means AMC increased its stake from 0.17 percent to 0.24 percent in January 2023, keeping the Hindenburg Research report in check. The share price of Ambuja Cements has fallen from around ₹500 to ₹345 per share in the last 14 sessions.

3] Adani Transmission: AMC increased its stake in this Adani group stock despite heavy selling pressure at the end of January 2023. As on 31 December 2022, DSP Mutual Fund held 25,637 shares of the company, which stood at 26,576 as on 31 January 2023. Adani Price shares of Gearbox plunged from around ₹2,760 to ₹1,020 per share after the Hindenburg research report.

4] Adani Ports & Special Economic Zone: In this flagship company of the Adani Group, DSP Mutual Fund held 22,23,965 shares or 0.10% stake as on December 31, 2022, representing 28,89,891 shares of Adani Ports or 0.313 percent stake in the company as on January 31, 2023. This means that AMC has increased its stake in this Adani group company from 0.10 percent to 0.13 percent in January 2023. After the Hindenburg Research report on Adani group companies, Adani Ports share price plummeted from ₹ to ₹ 570 per share in the last 14 sessions.

5] Adani Green Energy: In these Adani Group stocks, AMC increased its holding from 32,036 shares of Adani Green in December 2022 to 33,199 shares in January 2023. In the last 14 sessions, shares of Adani Green Energy fell from around ₹ 1,915 to ₹ 620 per level piece.

6] Adani Total: DSP Mutual Fund held 25,276 shares of Adani Total as on 31 December 2022, which went north to 26,194 shares as on 31 January 2023. In the last 14 trading sessions, the share price of Adani Total Gas fell from ₹ 3,890 to ₹ 1,075 levels a piece.

Written by: Vaishali Verma

Read Now:<strong>Balaji Telefilms’ TV revenue jumps 48% to ₹249 crore in April-December</strong>

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