Rajiv Jain, Chairman and Chief Investment Officer of GQG Partners, on Wednesday said his company could pump in more investment in the Adani group. GQG has already invested ₹15,500 crore in four Adani group entities last week.
“Chances are we’ll probably buy more because we typically initiate a position and then depending on how things go and how the earnings come through we tend to get it to full size because we’re not at full size at this point,” Jain said on a call with journalists in Sydney.
When asked how GQG clients have reacted to the Adani deal, Jain said it was more positive than expected.
Last week, Jain said he believes the Indian conglomerate is not only a safe bet but also “fantastic” and “irreplaceable”.
“About 25 per cent of India’s air traffic passes through their airports and 25 per cent to 40 per cent of India’s cargo volume goes through their ports. The biggest competitor is actually the Indian government, who is not exactly the fastest-running horse in the race,” Jain said in an interview with The Australian Financial Review.
Jain’s bullishness on Adani group has surprised many because other investors have been exiting Adani stocks, pulling down the market cap of the conglomerate by over $100 billion since Hindenburg Research’s report was published on January 24.
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