Adani Transmission stock shows signs of upside after GQG Partners buys stake

New Delhi : Shares of Adani Group, Adani Transmission, saw a slight gain of 0.11 per cent on Tuesday. The stock made an intraday high of Rs 782.85 per share and an intraday low of Rs 768.45 per share on the BSE till afternoon trade. On the other hand, Dalal Street is witnessing a continuous boom. The Sensex has reached a historic all-time high of 65,586 points with a gain of 0.24 per cent. At the same time, Nifty has created a new all-time high of 19,413 points.

GQG Partners bought stake

Investment firm GQG Partners has bought an additional 3 per cent stake in Adani Transmission, an Adani Group company. This deal has been done for Rs 2,633 crore. With this, the total stake of GQG Partners in Adani Transmission has increased to 6.54 per cent. The investment firm acquired equity shares from the promoter entities of the company on June 30.

Rajiv Jain is the co-founder of the company

Rajeev Jain is the Co-Founder, Chairman and Chief Investment Officer of GQG Partners. GQG Partners is a well-known Asset Management Company. Its headquarters is in Florida. The firm was co-founded by Rajeev Jain and Tim Carver.

Works in electrical power transmission

Adani Transmission Limited (ATL) is a flagship company of the prestigious Adani Group. The company is focused on installation, operation and maintenance of electrical power transmission systems in India. Investors can keep an eye on this stock.

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