Published: 21st Nov 2024
By: Value Research
On November 20, 2024, bribery allegations against the Adani Group came to light. The conglomerate was accused by US prosecutors of paying $250 million in bribes to Indian officials for solar power projects totalling $2 billion.
Adani’s bribery allegations led to its stocks tanking across the board. And so, mutual funds with substantial stakes in the conglomerate may be hit hard as well.
Of the 164 actively managed equity funds with stakes in the Adani Group, 18 have more than 5% exposure (as per October 2024 disclosures). Here is the list.
Note: Net positions in all listed Adani group stocks, ACC and Ambuja Cements have been considered.
Of the 18 funds, 13 of them belong to the sectoral/thematic category. Thus, they focus on a handful of industries or themes, leaving them more exposed to such scandals.
Diversified equity funds (like flexi-cap and multi-cap funds) are better as they invest in a variety of companies and sectors.
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