Morning Buzz: FPIs trim holdings in Adani stocks, Jio not to raise tariffs for 5G services and more

(File) A logo of the Adani Group is seen on a commercial complex in Mumbai, India, February 7, 2023. Image: REUTERS/Francis Mascarenhas

FPIs trim holdings in Adani stocks

Several foreign funds have reduced their holdings in Adani stocks in the quarter ended 30 September 2023. The Elara India Opportunities Fund reduced its stake in Adani Enterprises to below 1 percent, and from 3.6 percent to 1.9 percent in Adani Energy. This comes after Hindenburg Research had alleged that it could be linked to the promoter group. Most Adani companies saw a rise in retail holdings during this period.
(BusinessLine)

Blackstone signs deal to acquire CARE Hospitals

Blackstone has completed the acquisition of 72.5 percent stake in Quality Care India Ltd, the company that operates CARE Hospitals. The acquisition was from a platform backed by TPG Rise funds. TPG will continue to hold the remaining 27.5 percent stake. In addition Quality Care has signed a deal to acquire KimsHealth at a valuation of Rs 3,300 crore. Both deals are likely to total $1 billion for Blackstone.
(Economic Times, Business Standard, Mint)

Jio not to raise tariffs for 5G services

Jio doesn’t plan to raise tariffs for its 5G services. This is in contrast to its competitors who have said that rates could rise once the 5G network is more widespread. The company has said it plans to get users to consume more data. In addition to mobile services the company plans to connect 300 million homes to 5G broadband services. This will be done by next December.
(Business Standard)

An equal equity and debt portfolio can provide best returns

An equal weight equity and debt portfolio returned 12.2 percent between 1990 and 2023 according to a study by Motilal Oswal. In contrast a portfolio with 75 percent equity and 25 percent debt returned 12.9 percent during the same period while 75 percent debt and 25 percent equity saw a 10.6 percent return. According to Motilal Oswal, an equal weighted portfolio works best for investors with a moderate risk profile and has a low probability of negative returns. (Economic Times)