AROUND EARLY-FEBRUARY when Adani-Hindenburg issue was the at its peak, there were many in the markets and outside-who were highlighting a data point to support their argument that there were many shortcomings related to the conglomerate. They drew attention to the fact that mutual funds (MF), which channelise huge amounts of retail money into the stock markets, have stayed away from stocks of Adani Group firms even though the conglomerate is one of the largest business houses of the country.
It is not that MFs do not own shares of Adani Group companies, but given the spread and size of the Gautam Adani-led conglomerate, the exposure of mutual fund houses is minuscule, say market watchers. For instance, MFs hold just 1.19 per cent stake in Adani Enterprises the flagship company of the conglomerate even as the stake is held through 88 different fund schemes, per data from Value Research. For perspective, MFs hold a cumulative 5.81 per cent in Reliance Industries through 443 MF schemes, according to BSE and Value Research data.
This story is from the March 19, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 19, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky