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    ADANITRANS   INE931S01010

ADANI TRANSMISSION LIMITED

(ADANITRANS)
  Report
Delayed NSE India Stock Exchange  -  07:25:51 2023-03-24 am EDT
1124.55 INR   +3.70%
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Mutual funds have low exposure to Adani companies

02/01/2023 | 03:33am EDT
Illustration shows Electric power transmission pylon miniatures and Adani Green Energy logo

(Reuters) - Mutual funds have low exposure to listed Adani Group companies, whose shares have dropped since publication of a report into the group by Hindenburg Research on Jan. 24.

On Wednesday, Adani Group stocks extended their losses since the appearance of the report to $72 billion. Hindenburg criticised the conglomerate for improper use of offshore tax havens and flagged concerns about high debt.

In the same period, Indian equity mutual funds have on average lost 1.6% of their net asset values, less than a 2.5% dip in the broad Nifty 50 index that has been partly driven by falls in Adani Group companies.

Mutual funds from India and elsewhere hold just 3.4% of Adani Enterprises, 2.8% of Adani Total Gas and 3.6% of Adani Green Energy. Promoters of the companies hold most of the shares.

Adani Enterprises and Adani Port are constituents of the Nifty 50, so they are automatically in portfolios of some exchange-traded funds (ETFs) and index funds. But active funds have very little exposure to Adani stocks and are largely unscathed by their fall.

Funds with biggest holdings in Adani group of companies https://fingfx.thomsonreuters.com/gfx/mkt/mypmoknodpr/Funds%20with%20biggest%20holdings%20in%20Adani%20group%20of%20companies.jpg

U.S.-listed iShares MSCI India ETF, which at the end of December had a combined holding of $172 million in Adani Transmission, Adani Total Gas and Adani Enterprises, has lost 2.7% over the past week.

Among active funds, the Kotak Balanced Advantage fund, which has positions in Adani Enterprises and Adani Ports and Special Economic Zone, has shed just 0.5%.

Fund holding in Adani Group stocks

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Bradley Perrett)


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED -2.90% 1740.55 End-of-day quote.-54.90%
ADANI GREEN ENERGY LIMITED 4.78% 1029.35 Delayed Quote.-46.72%
ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED -2.59% 638 Delayed Quote.-22.01%
ADANI TOTAL GAS LIMITED 2.59% 1007.45 Delayed Quote.-72.72%
ADANI TRANSMISSION LIMITED 3.70% 1124.55 Delayed Quote.-56.57%
NIFTY 50 -0.77% 16945.05 Delayed Quote.-6.41%
TOTALENERGIES SE -3.03% 51.81 Real-time Quote.-11.66%
All news about ADANI TRANSMISSION LIMITED
03/22Adani to increase airports business in India amid aviation boom
RE
03/22Adani Airports to bid for more airports in India - CEO
RE
03/19Adani Transmission Forms Wholly-Owned Arm For Power Distribution Business
MT
03/16Adani Transmission Forms New Unit for Power Distribution in Aurangabad, India
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03/12India's Adani prepays $2.15 billion share-backed loans
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03/10Adani seeks to sell stake in Ambuja Cement for $450 million to reduce debt - FT
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03/08India's Adani tells investors all share-backed loans have been paid back - Bloomberg Ne..
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03/08India's Adani repays $500 million bridge loan - Bloomberg News
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03/07India's Adani Group pre-pays over $900 million worth share-backed financing
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03/03India's Adani group shares surge again after scandal, stock crash
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Analyst Recommendations on ADANI TRANSMISSION LIMITED
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Financials
Sales 2023 122 B 1 478 M 1 478 M
Net income 2023 13 314 M 162 M 162 M
Net Debt 2023 - - -
P/E ratio 2023 -
Yield 2023 -
Capitalization 1 254 B 15 229 M 15 229 M
Capi. / Sales 2023 10,3x
Capi. / Sales 2024 9,64x
Nbr of Employees 5 105
Free-Float 20,4%
Chart ADANI TRANSMISSION LIMITED
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Technical analysis trends ADANI TRANSMISSION LIMITED
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TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Last Close Price 1 124,55 INR
Average target price 3 275,00 INR
Spread / Average Target 191%
EPS Revisions
Managers and Directors
Anil Kumar Sardana Chief Executive Officer, MD & Executive Director
Rohit Soni Chief Financial Officer
Gautambhai Shantilal Adani Chairman
Jaladhi Shukla Secretary & Compliance Officer
Kalaikuruchi Jairaj Independent Non-Executive Director
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1st jan.Capi. (M$)
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