Business: After the Hindenberg Research report, NRI investor Rajiv Jain's company GQG Partners, who bought Adani Group stocks and rescued it from crisis, has further increased its stake in four Adani Group companies between July and September in the second quarter of the financial year 2024-25. GQG Partners has increased its stake in Adani Group's flagship company Adani Enterprises, Adani Energy Solutions, Adani Green Energy and Ambuja Cement. 

GQG Partners increases stake in Adani stocks 

GQG Partners' stake in Adani Enterprises has increased from 3.4% to 3.52% in the second quarter. GQG Partners' stake in Adani Energy Solutions has also increased to 4.7% from 4.7% in the first quarter. Rajin Jain's company's stake in Adani Green Energy has increased to 4.21% from 4.16% earlier. GQG Partners has also increased its stake in Ambuja Cement from 1.35% to 2.05%. GQG Partners has reduced its stake in Adani Ports and Adani Power during this period.  

Promoters reduced stake in 2 companies 

During the July to September quarter, the Adani Group has increased its stake in Adani Enterprises from 74.72 per cent to 74.89 per cent. In Adani Green Energy too, the promoters have increased their stake from 57.52 per cent to 60.94 per cent. The promoters have also increased their stake in Adani Power and increased it from 72.71 per cent to 74.96 per cent. However, the promoters have reduced their stake in Ambuja Cement from 70.33 per cent to 67.57 per cent and in Adani Energy from 74.94 per cent to 69.94 per cent.     

GQG Partners helped to overcome the crisis 

In January 2023, after the shortseller Hindenburg Research's report against Adani Group stocks came out, the group's shares had fallen by 85 per cent. Then Rajiv Jain, co-founder of GQG Partners, rescued the group from the crisis by buying shares of four Adani Group companies for Rs 15446 crore. Due to Rajiv Jain, investors from India and abroad regained their confidence in Adani Group companies and after that GQG Partners made tremendous earnings by investing in Adani Group stocks, while all the listed stocks of Adani Group except two were able to cross the old high.