Rajiv Jain, the US-based NRI-investors and the co-founder of GQG Partners, recently expanded his portfolio by adding four stocks - Adani Power, JSW Energy, Patanjali Foods, and IDFC First Bank to his portfolio, in the September quarter.

By the end of September 2023, GQG owned a 3.25% stake in Baba Ramdev’s Patanjali Foods, a 1.38% stake in JSW Energy, a 1.11% stake in IDFC First Bank, and 1.28% in Adani Power.

GQG is seen increasing ownership in Adani Enterprises from 2.67% in Q1 to 2.74% in Q2, Adani Green Energy from 3.5% to 3.55%, Adani Ports from 3.10% to 3.53%, and Ambuja Cements from 1.36% to 1.8%.

At the end of the September quarter, he owned 11 stocks the market value of which is now about Rs 37,000 crore. Around 64% of his holding is concentrated in Adani stocks.

GQG gained public attention in March earlier this year when it made a contra bet on Adani stocks in the peak of the aftermath of the Hindenburg allegations of accounting fraud and stock price manipulation on Adani.