Winning Bizness Desk

Mumbai. The country's largest retirement fund EPFO (EPFO) remains confident in Adani Group's shares amidst a sharp fall in Adani Group's shares. This organization, which manages the EPF of crores of people working in the private sector, is still investing in the shares of Adani Group. According to the report, EPFO is continuously investing in Adani Enterprises, the flagship company of the group, and Adani Ports and Special Economic Zone (APSEZ). He says that this process will continue till September 2023. EPFO manages the retirement funds of crores of employees working in the organized sector. He invests 15% of his total corpus in ETFs linked to NSE Nifty and BSE Sensex. That is, instead of investing directly in any share, EPFO invests in the stock market through ETF.

Adani Enterprises and Adani Ports are included in the NSE Nifty. Adani Ports is a part of it since 2015 while Adani Enterprises was inducted from September 2022. Till September 6, 2023, both these shares will remain in Nifty 50. In this way, the EPFO money invested in Nifty ETF will continue to go to Adani Enterprises and Adani Ports.

Hindenburg Research made all difference

American short selling firm Hindenburg Research issued a negative report on Adani Group on 24 January 2023. Due to this, the shares of Adani Group have declined significantly. In three months, the stock of Adani Enterprises has fallen by 55 per cent and that of Adani Ports by 23 per cent. This may also affect the interest rate of EPFO for 2022-23. The reason for this is that EPFO will get less return on the investment made in ETF.