Amid concerns over banks’ exposure to the embattled Adani Group, the Reserve Bank on Friday said India’s banking sector is resilient and stable, and the central bank maintains constant vigil on the lenders. Responding to media reports the Reserve Bank said in a statement that it is constantly monitoring the banking sector without taking the name of the Adani Group.
As per the current assessment, the RBI said, “the banking sector remains resilient and stable. Various parameters relating to capital adequacy, asset quality, liquidity, provision coverage and profitability are healthy.”
A mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt. And now, most mutual funds investors are wondering whether their mutual funds or schemes have investments in Adani stocks. And the answer is a yes. According to researchers, who looked at data, several mutual funds had investments in the Adani Group companies such as Adani Enterprise, Adani Green Energy, Adani Ports & Special Economic Zone (SEZ), Adani Power Ltd., Adani Total Gas., Adani Transmission, Adani Wilmar, Ambuja Cement, and ACC Ltd.
Data shows that SBI Mutual Fund had the highest exposure of Rs 6,142 crore in Adani group, followed by UTI Mutual Fund with around Rs 2,333.26 crore exposure. SBI Mutual Fund’s highest exposure was in Adani Enterprises, followed by Adani Ports and Special Economic Zone (Rs 1816.40 crore).
Some other mutual funds that invested in Adani group (Source: ACE MF, Data as on December 2022)
SBI Mutual Fund – Rs 6,142 crore (market value), no. of shares – 47,542,283
UTI Mutual Fund – Rs 2,333.26 crore (market value), number of shares – 19,790,082
Kotak Mutual Fund – Rs 2,329.22 crore (market value), number of shares – 27,591,979
Nippon India Mutual Fund – Rs 2,095.40 (market value), number of shares – 23,681,983
ICICI Prudential Mutual Fund – Rs 2,091.58 (market value), number of shares – 21,369,599
HDFC Mutual Fund – Rs 1,589.94 (market value), number of shares – 22,150,296
Tata Mutual Fund – Rs 1,549.01 (market value), number of shares – 17,676277
Quant Mutual Fund – Rs 1,276.16 crore, no. of shares – 19,579,686
Axis Mutual Fund – Rs 1,122.17 crore, no. of shares – 13,187,729
Aditya Birla Sun Life Mutual Fund – Rs 912.41 cr, no. of shares – 10,027,314
DSP Mutual Fund – Rs 835.52 cr, no. of shares -7,515,756
Motilal Oswal Mutual Fund – Rs 760.81 cr, no. of shares – 13,858,639
Mirae Asset Mutual Fund – Rs 694.83 cr, no. of shares – 12,559,725
Edelweiss Mutual Fund – Rs 354.26 cr, no. of shares – 5,447,077
