Adani Enterprises saw nearly 58.9 lakh shares worth around Rs 1,435 crore change hands in a large block deal involving marquee investor GQG Partners and SBI Mutual Fund.
Exchange data showed GQG Partners Emerging Markets Equity Fund sold 58.92 lakh shares of Adani Enterprises at a price of Rs 2,435.6 apiece. The entire stake was picked up by SBI Mutual Fund at the same price through a bulk transaction.
Based on the transaction price, the overall deal value stood at around Rs 1,435 crore. The block deal came even as shares of Adani Enterprises rallied sharply during the session. The stock climbed as much as 9% on the NSE, extending gains to over 10% over the last two sessions.
GQG had increased its exposure to Adani Enterprises during the January-March quarter. Shareholding data showed the fund’s stake in the flagship Adani company edged up from 3.87% to 3.9% during the quarter. With the latest deal, the stake would come down a bit.
The fund has long been viewed as one of the most prominent institutional backers of the Adani group, especially during periods of heightened volatility following the short seller-led turmoil in 2023.
In the March quarter, GQG had also selectively raised holdings in other key Adani group companies including Adani Energy Solutions and Adani Green Energy, signalling continued conviction in the group’s long-term infrastructure and energy businesses.
At the same time, foreign institutional investors broadly remained cautious on Adani stocks during the fourth quarter. FII ownership in Adani Enterprises declined from 11.64% to 10.8%, while holdings in Adani Energy Solutions and Adani Green also fell.
The latest block deal also comes after Adani Enterprises reported its March quarter earnings. The company posted a net loss of Rs 221 crore in Q4 compared with a profit of Rs 3,845 crore in the year-ago period.
Revenue from operations, however, rose 20% year-on-year (YoY) to Rs 32,439 crore.
Adani Enterprises said earnings were impacted by higher depreciation charges linked to newly commissioned assets at Navi Mumbai airport and the copper manufacturing plant. Operationally, the company remained relatively stable, with EBITDA rising 3% year-on-year to Rs 4,479 crore.
Management highlighted that nearly 80% of total EBITDA is now contributed by infrastructure and utility businesses, improving long-term earnings visibility and cash flow stability.
For the full financial year FY26, Adani Enterprises reported total income of Rs 1.02 lakh crore, while annual profit after tax rose 31% to Rs 9,339 crore aided by exceptional gains during the year.
