NRI investor Rajiv Jain, who already holds India stocks worth $13 billion, has expressed his intention to further increase his investments in the domestic market. GQG Partners' Jain emphasised his preference for the banking, information technology (IT), and consumer staples sectors.

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While expanding its holdings across India, GQG Partners made noteworthy investments of around $2.5 billion in five Adani Group stocks since March. This move followed the turbulence faced by the conglomerate's ports-to-power empire which was broadsided by short-seller Hindenburg Research.

Additionally, GQG also holds positions in companies including cigarette and hotel group ITC Ltd., the country’s biggest drugmaker Sun Pharmaceutical Industries Ltd., along with lenders ranging from State Bank of India, ICICI Bank Ltd. and Housing Development Finance Corp.

Jain is eyeing to increase his firm’s investments in the Indian market at a time when the Nifty 50 has been nearing record high, even as there has been a marginal back and forth in the past few range bound sessions. However, midcap outperformance has kept market breadth in favour of advances.

In an interview with CNBC US on June 13, GQG Partners founder, a major investor in the Adani Group said that he sees a lot of opportunities in billionaire Gautam Adani led group. Jain believes there is less political risk in the Adani story than perceived. According to him, Adani has the best infra assets in India.

Jain also asserted that Adani’s numbers have been good and shown massive beats.

For instance, Adani Enterprises Ltd (AEL), the group's flagship firm, last month reported a 137.5 percent year-on-year jump in its consolidated net profit at Rs 722.5 crore for the January to March 2023, on the back of growth in airports and road businesses. Its operating profit or EBITDA came in at Rs 3,586 crore in the fourth quarter of the fiscal, as against Rs 1,264 crore in the corresponding period in the previous fiscal.