The promoter group led by billionaire Gautam Adani has increased its stake in two of the group's listed companies as the ports-to-energy conglomerate works on a recovery strategy after being hit by damaging reports. According to stock exchange filings, the promoter group increased its stake in flagship Adani Enterprises to 71.93 percent from 69.87 percent.
The promoters have increased their stake in the flagship firm that incubates new businesses for the second time in less than a month. Last month, the promoters increased their stake in Adani Enterprises Ltd from 67.65% to 69.87%.
According to the filings, the promoter group increased its stake in Adani Ports and Special Economic Zone Ltd from 63.06 percent to 65.23 percent.
In open market transactions, Resurgent Trade and Investment Ltd purchased nearly 1% of Adani Ports and Special Economic Zone Ltd, while Emerging Market Investment DMCC purchased another 1.2%. Both are promoter group companies.
Kempas Trade and Investment Ltd and Infinite Trade and Investment Ltd purchased Adani Enterprises Ltd shares.
According to the filings, the stakes were purchased in open market transactions between August 14 and September 8.