Adani Group Stocks in Focus: Here is what GQG Partners' Rajiv Jain said

GQG Partners, one of the first investors to acquire stake in the Adani Group post the Hindenburg scandal in 2023, has released a statement to the Australian Exchanges with regards to the US District Court and the SEC orders against the Adani Group over an alleged bribery scheme.

In its statement, GQG said that it is monitoring the charges brought today by the US Attorney's Office for the Eastern District of New York and the US Securities and Exchange Commission against Gautam Adani and certain other Adani Group executives and companies.

"Our team is reviewing the emerging details and determining what, if any, actions for our portfolios are appropriate," the GQG Statement said.

GQG also added that consistent with their portfolio construction guidelines, GQG Portfolios makes diversified investments and in aggregate, over 90% of their clients' assets are invested in issuers unrelated to the Adani Group.

As of the quarter that ended on September 30, GQG Partners held stake in six Adani Group companies, which ranged between 1.5% to 2%.

Adani Group stocks will be in focus on Thursday, November 21, after a US District Court charged Gautam Adani, the group founder with participating in an alleged bribe plot.