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Infinite Trade & Investment buys in two Adani group stocks worth ₹1,100 cr – Mint

MUMBAI :

Infinite Trade & Investment Ltd has invested over 1,100 crore in two Adani Group firms between 10 and 19 June.

Infinite Trade & Investment have bought nearly 8.5 million shares of Adani Green Energy Ltd between 10 and 19 June each day worth 122.51 crore, 182.51 crore, 174.79 crore, 180.01 crore, 179.82 crore and 169.04 crore respectively.

Infinite Trade & Investment also bought 1.93 million shares of Adani Ports & Special Economic Zone worth 126.81 crore on 19 June.

Both transactions have done via market purchase, according to BSE notice.

Adani Group shares were under pressure since last week, with investors wealth eroded over $13 billion after the Economic Times reported that national share depository froze the accounts of three Mauritius-based funds due to insufficient information on the owners.

The bulk of holdings of Albula Investment Fund, Cresta Fund and APMS Investment Fund about $6 billion are shares of Adani’s firms.

The Adani group had called the report “blatantly erroneous”, and said it was done deliberately to mislead the investing community.

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