Investment giant Goldman Sachs GQG Partners International Opportunities Fund has made a noteworthy entrance into Adani Power Share, creating a buzz within the stock market.
In a substantial move reflecting growing interest in Adani Power, the US-based investment powerhouse, Goldman Sachs GQG Partners International Opportunities Fund, has acquired a substantial stake. The latest data from Indian stock market exchanges reveal that this prominent investor has acquired an impressive 10,30,30,127 shares of Adani Power at ₹279.15 per share. This calculated move translates to a substantial investment of ₹28,76,08,59,952.05 or ₹2,876 crore in Adani Power.
Boosted by Goldman Sachs’ Entry, Adani Power Shares Flourish
The news of Goldman Sachs’ significant stake acquisition has galvanized the market, with Dalal Street witnessing a surge in bullish sentiment toward Adani Power. Today, the opening of Adani Power shares saw an upward trend, eventually reaching an intraday high of ₹288.50 per share on the NSE. This remarkable surge marked an impressive intraday rise of over 3 percent during the early morning trading session on Thursday.
Strategic Move on 16th August 2023
Details of this strategic investment reveal that Goldman Sachs GQG Partners International Opportunities Fund executed this substantial deal on the 16th of August, 2023. The investment worth ₹2,876 crore was facilitated through a single seller single buyer bulk deal.
Market Dynamics Continue: More Bulk Deals Unfold
The 16th of August, 2023, witnessed a flurry of bulk deals involving Adani Power shares. Another US-based investor, GQG Partners Emerging Markets Equity Fund, made a significant move by acquiring 4,90,30,009 Adani Power shares at ₹279.15 per share. This calculated move translates to an impressive investment of ₹13,68,67,27,012.35 or approximately ₹1,368 crore in this Adani group company.
Balancing Act: Profit Booking Amid Enthusiasm
Amid the wave of enthusiastic investments, profit booking actions were also recorded for Adani Power shares on the same day. Afro Asian Trade and Investments Ltd strategically offloaded 26,54,85,675 Adani Power shares at ₹279.18 per share. This calculated move indicates a substantial sale worth ₹74,11,82,90,746.5 or approximately ₹7,412 crore.
Similarly, Worldwide Emerging Market Holding Limited made a calculated decision to offload 4,65,14,325 Adani Power shares at ₹279.16 per share. This strategic move translated to a sale of Adani Power shares amounting to ₹12,98,49,38,967 or approximately ₹1,298.50 crore.
The recent series of significant investments, alongside strategic profit booking, highlights the dynamic nature of Adani Power’s journey in the market. With Goldman Sachs’ substantial stake acquisition at the forefront, the trajectory of Adani Power remains intriguing as market players carefully navigate these strategic moves.