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Rajiv Jain's GQG Partners has increased its stake in Adani Group company Ambuja Cements by 0.70 per cent to 2.05 per cent in the September quarter. Jain's GQG Partners Emerging Markets Equity Fund held 1.35 per cent stake in the cement company in the quarter ended June 30, 2024.
Ambuja has more than 50 lakh shares in its 2.05 per cent stake. Shares of Ambuja Cements closed 0.25 per cent lower at Rs 583.80 on the NSE on Friday. The stock has given a return of 31 per cent in the last 12 months, which is a better performance than the Nifty's 26 per cent return. Share performance Shares of Ambuja Cement closed 0.25 per cent lower at Rs 583.80 on Friday. The company's stock has seen a rise of 31.16 per cent in the last one year. The stock's 52-week high is Rs 706.95. Investor Rajiv Jain, who runs GQG Partners, had bought stakes in almost all Adani Group companies after Hindenburg's report. Out of the 10 listed companies of the Adani Group, its major companies are Adani Enterprises, Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, Adani Power and Ambuja Cements.
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