The moves in & around the Adani Group

The Focus on Adani Shares Price

Strengthening its presence in the media segment, the Adani Group shared that its media group, AMG Media Networks, subscribed to the fresh shares of the news agency IANS worth 50 million, thereby significantly increasing its stake in the agency. The Adani media group has acquired voting shares of 76% and almost all non-voting shares. The Adani Group had 50.5% shares each earlier initially that were procured at 510,000 INR, and they considerably increased the stakes.

Adani Group's stock prices are ranging in positive from 2.2-16.5% since the start of this year. The Adani media house announced the acquisition of IANS in December, followed by its 65% stake purchase of NDTV in December 2022 and Quintillion Business Media the same year.

Through its acquisition of IANS, AMG Media will have management and operational rights and control over IANS, such as appointing directors to the board.

In another saga, the eminent NRI investor Rajiv Jain of GQG partners increased the holdings of his company in six Adani groups amidst the turmoil caused by the Hindenburg report. Their holdings now stand at 2.95% in Adani Enterprises, 3.76% in Adani Ports, and 3.68% in Adani Green Energy. GQG believes the long-term strategic partnership and investment in Adani stocks would benefit their growth prospects while helping advance India's economy.