Top Investor Predicts Over 100% Return on Nearly $2 Billion Investment in Adani Group Stock

A top investor has invested nearly $2 billion in Adani Group stock and predicts a return of over 100%. Rajiv Jain, chief investment officer of GQG Partners Inc., has described the investment as a “multibagger,” meaning it could double in value.

While Adani has faced allegations of stock-price manipulation and fraud, Jain has faith in the Indian conglomerate’s value, pointing to its assets, which include coal mining, data centres and a majority stake in Mumbai Airport. Jain has also expressed his interest in exploring increasing GQG’s stake over time.