Adani is getting 50%, sharing the earnings cheaply…

Mutual fund firm takes big stake in 50% cheaper Adani shares,

Edelweiss Mutual Fund is picking up Adani Enterprises shares despite heavy selling after US short seller Hindenburg Research report.

Edelweiss Mutual Fund increases its stake in Adani Group’s flagship company Adani Enterprises Ltd

Adani Enterprises Shares: Despite the heavy sell-off in Adani Enterprises shares after the US short seller Hindenburg Research report, Edelweiss Mutual Fund is picking it up. In January 2023, Edelweiss Mutual Fund increased its stake in Adani Group’s flagship company Adani Enterprises Ltd. As of December 31, 2022, Edelweiss Mutual Fund held 1,034 shares of Adani Enterprises, which increased to 1,11,576 shares of Adani Enterprises on January 31, 2023. Investments in Adani Enterprises are made through Edelweiss MF Index Fund.

Let us tell you that Adani’s flagship company has been badly affected after the Hindenburg Report and the shares of Adani Enterprises have fallen by almost 50% in a month. According to stock market experts, after such a decline, high-risk investors can invest in the core business of Gautam Adani-backed companies. Experts say. Anyone can hold shares of Adani Enterprises as most of the business activities are done in this company of the Adani Group. He said that the share price of Adani Enterprises has found support near the ₹1,000 level, while it is facing resistance near ₹2,350 per share.

What is the expert’s opinion?

Sandeep Pandey, Director, Basav Capital, said, “After the third quarter results of the current financial year, investors with high risk appetite can look at holding key companies of the Adani group. Most of the business activities in the group take place in Adani Enterprises Limited, yes, Adani Enterprises shares can be held for the long term.” While, Anuj Gupta, Vice President, Research, IIFL Securities, said, “Most of the Adani shares are volatile after the Hindenburg Research report on Adani group companies. Currently, Adani Enterprises shares have taken support at ₹1,000 and are expected to trade at ₹2,350 levels.” But there is a catch. Hence, those who have this stock in their portfolio can continue to accumulate on major declines.

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