Abu Dhabi Investment Authority’s India Portfolio Gains 7% in FY26 Amidst Divergent Stock Performance

The equity portfolio of the Abu Dhabi Investment Authority (ADIA), managed through its global funds, has experienced a 7% increase in fiscal year 2026 (FY26), growing from Rs 3,774 crore in March to Rs 3,910 crore as of March 20, 2026. Despite this overall gain, performance across the portfolio’s 26 publicly listed Indian companies has been markedly uneven, with significant disparities between top-performing and lagging stocks.

Mixed Performance and Key Gainers

Whereas the overall portfolio shows a positive trend, six stocks within ADIA’s India holdings have delivered substantial gains ranging from 30% to 110% in FY26 to date. Notably:

• TD Power Systems: Has surged 110%, increasing from Rs 411 to Rs 863. ADIA holds an estimated 1.05% stake, valued at approximately Rs 142 crore.
• Data Patterns (India): Gained 91%, rising from Rs 1,690 to Rs 3,231. ADIA’s stake is estimated at 1.33%, worth around Rs 240 crore.
• Navin Fluorine International: Advanced 45%, moving from Rs 4,211 to Rs 6,124. ADIA’s stake is estimated at 1.23%, valued at approximately Rs 385 crore.
• BlackBuck: Climbed 45%, increasing from Rs 424 to Rs 616. ADIA holds an estimated 1.46% stake, worth around Rs 163 crore.

However, the top four underperforming stocks have experienced declines ranging from 30% to 47% during the same period.

New Additions to the Portfolio

In the December 2025 quarter, ADIA strategically added three new stocks to its India portfolio: Strides Pharma, Indigo Paints and Tenneco Clean Air. This move indicates a selective approach to investment amid volatile market conditions and varying stock performance.

Portfolio Growth and Market Context

As of December 5, 2025, ADIA’s India equity portfolio had grown to Rs 3,801 crore, a modest 0.7% increase from Rs 3,774 crore. The portfolio comprised holdings in 25 Indian companies at that time, with thirteen stocks showing gains and five experiencing declines.

Looking Ahead

ADIA’s performance in India reflects a cautious yet opportunistic investment strategy. The sovereign fund’s selective additions and focus on specific sectors suggest an intent to capitalize on emerging opportunities within the Indian market, despite ongoing volatility. Continued monitoring of stock performance and strategic adjustments will be crucial for sustained growth in the coming fiscal year.