Adani Ports & SEZ led the pack with mutual funds buying shares worth over Rs 1,100 crore, followed by Adani Enterprises at Rs 890 crore, and Adani Power at Rs 218 crore.
Mutual funds invested over Rs 2,000 crore in Adani Group companies in July, with eight of the listed companies of the diversified conglomerate witnessing net buying, while Ambuja Cement faced minor selling.
Other companies, including ACC Ltd, Adani Energy Solutions, Adani Green Energy, Adani Total Gas, and Adani Wilmar Ltd, saw mutual fund buying ranging from Rs 1 crore to Rs 88 crore. Meanwhile, Ambuja Cements experienced selling worth Rs 338 crore.
More importantly, the quantum of mutual fund buying has been consistently rising over the past few months. In June, the group saw Rs 990 crore in net buying from mutual funds, which was higher than in May when the buying was pegged at Rs 880 crore.
Meanwhile, the total value of mutual fund holdings in the nine group firms stood at Rs 42,154 crore in July, compared to Rs 39,227 crore in June.
Furthermore, the surge in mutual fund interest followed significant promoter stake purchases in Adani Group companies during the June quarter. Promoters acquired shares worth Rs 23,000 crore, which analysts viewed as a positive indicator.