In today’s briefing:
- Adani Group: GQG Bets Big; MSCI Index Impacts
- Greenko Energy Holdings: Stable Operating Performance; High but Manageable Leverage
Adani Group: GQG Bets Big; MSCI Index Impacts
- Post market close yesterday it was announced that GQG Partners (GQG AU) had invested INR 154.46bn (US$1.87bn) in four Adani Group companies via block deals.
- The blocks were at a discount of 4.3% for Adani Ports & Special Economic Zone (ADSEZ IN) to 12.2% for Adani Enterprises (ADE IN).
- There will be an increase in the free float for some Adani Group companies as a result of the blocks and there are implications for the stocks in indexes.
Greenko Energy Holdings: Stable Operating Performance; High but Manageable Leverage
- Greenko Energy Holdings (“Greenko”; “the company”) is one of the leading independent clean energy companies in India.
- As of September 2022, the company had total operational capacity of about 5.3 gigawatts (GW) – excluding a stake in hydropower operator Teesta Urja Limited – across a diversified portfolio of renewable energy assets.
- Wind energy contributes about 3.2GW of operational capacity, hydro contributes about 0.6GW and solar contributes about 1.5GW.
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