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Adani Stock 2023: GQG Partners makes windfall profits of Rs 17,671 crore with Adani stocks in just 9 months

In just nine months, GQG Partners nearly doubled its investments in Adani shares, earning substantial profits.

Adani Stock 2023: GQG Partners makes windfall profits of Rs 17,671 crore with Adani stocks in just 9 months
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GQG Partners makes windfall profits of Rs 17,671 crore with Adani stocks in just 9 months 

Rajiv Jain, the founder, chairman, and chief investment officer of Fort Lauderdale-based asset management firm GQG Partners, has achieved remarkable success in timing his trades with Adani Group's stocks. In just nine months, GQG Partners nearly doubled its investments in Adani shares, earning substantial profits.

As of December 6, GQG's portfolio value in Adani Group firms reached Rs 39,331 crore, indicating an impressive 82% total return on its initial investment of Rs 21,660 crore made in three instalments starting from March 2023. This exceptional growth was primarily driven by investments in Adani Enterprises Ltd., Adani Green Energy, Adani Ports and SEZ, and Adani Power, all of which nearly doubled in value amid the recent stock market surge.

Specifically, GQG invested Rs 3403 crore in Adani Enterprises, now valued at Rs 9,024 crore. Adani Green Energy's initial investment of Rs 4,743 crore increased to Rs 8,800 crore. Adani Ports, with an initial investment of Rs 4,472 crore, surged to Rs 7,766 crore, and Adani Power's investment rose from Rs 4,245 crore to Rs 8,718 crore.

Rajiv Jain, born in India, moved to the US in the early 1990s to pursue an MBA at the University of Miami. With a background in Swiss company Vontobel Asset Management, where he rose to co-CEO, he co-founded GQG Partners in 2016 alongside CEO Tim Carver. The firm went public on the Australian Stock Exchange in October 2021. According to Forbes, Rajiv Jain's net worth is estimated at $3.2 billion.

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