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NRIs fret over Indian investments post Adani-Hindenburg saga: Survey

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NEW DELHI: The Adani-Hindenburg saga has left non-resident Indians (NRIs) worried over the state of their investments in Indian markets. A survey by SBNRI, an NRI-focused fintech platform, shows that they are looking for alternative investment options post the crisis in Adani group companies.

The report suggests about 9.7% of Australia-based NRIs lead the investments in Adani Group Companies’ shares, out of which 2.99% of them sold their shareholdings soon after the Hindenburg report release.

There is a similar trend in the UK and Canada as 4.48% and 2.24% of NRIs invested in Adani group companies have sold their shares, respectively.

Countries like the USA, Singapore, Japan and others are also moving on the same pattern of selling their shareholdings soon after the Hindenburg report, revealed the survey.

Following the release of a damaging report by Hindenburg Research in late January, that alleged stock manipulation and fraud, Adani stocks went into a tailspin and ended up losing around $100 billion in market capitalisation in the next few weeks.

The freefall was arrested to an extent after US-based FII GQG Partners had signed a Rs 15,000 crore deal with Adani Group promoter entity SB Adani Family Trust to buy stakes in Adani Ports, Adani Green Energy, Adani Transmission and Adani Enterprises.

Further, the survey revealed that nearly 4.48% of US-based NRIs are extremely concerned about their investments after the Hindenburg Report.It further states that more than 8% of NRIs from Australia and UK and other countries are considering rebalancing their investment portfolio as a strategy to endure the situation.

“NRI investors must look at the takeaway from the events surrounding Adani Group’s stocks. Constant plunges in stock prices keep investors concerned, that’s why the basics of investing strategy exist. Diversification and asset allocation like keeping 10% stocks in one business group and 10% in the other can prove to be a smart move for a seasoned investor,” experts at SBNRI said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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