5 March 2024

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Adani Power

Adani Power Attracts Major Investments and Profit Booking

Today’s stock market news includes the purchase of more shares in Adani Power Ltd. by Goldman Sachs GQG Partners International Opportunities Fund. According to data from Indian stock market exchanges, the US-based investor purchased 10,30,30,127 shares of Adani Power for $279.15 each. This indicates that the Goldman Sachs fund invested 2,876 crore, or 28,76,08,59,952, in Adani Power.

Following the release of this stock market news, Dalal Street bulls showed a significant interest in purchasing Adani Power shares. On Thursday morning during early morning trading, the share price of Adani Power opened positively and rose to an intraday high of $288.50 per unit on the NSE.

Adani Power’s most recent bulk deal details

According to the bulk deal information released by Adani Power with Indian exchanges, this single seller single buyer trade was carried out by Goldman Sachs GQG Partners International Opportunities Fund on August 16, 2023. Through a mass transaction, the handshake valued 2,876 crore was carried out.

Adani Power

On August 16, 2023, another large transactions involving Adani Power shares occurred. According to bulk deal information posted on the BSE website, another US-based investor GQG Partners Emerging Markets Equity Fund purchased 4,903,009 shares of Adani Power for $279.15 each. This means that the US-based investor invested $1,368 crore, or 13,68,67,27,012.35, in the Adani group company.

However, on August 16, 2023, or on Wednesday, some profit taking also happened in the shares of Adani Power. At a price of 279.18 per share, Afro Asian Trade and Investments Ltd sold 26,54,85,675 shares of Adani Power. This indicates that the institutional investor sold off shares of Adani Power valued at around $7,412 crore, or 74,11,82,90,746.5.

The same thing happened when Worldwide Emerging Market Holding Limited sold 4,65,14,325 Adani power shares for $279.16. As a result, the institutional investor sold shares of Adani Power valued at $12,98,49,38,967, or around $1,298.50 crore, off the books.