FPIs hike stake in ITC in Q4
Foreign portfolio investor GQG Partners has increased its stake in ITC to 1.44%
Foreign portfolio investor GQG Partners, which made headlines for buying shares worth Rs 15,446 crore in Adani Ports and SEZ, Adani Green Energy, Adani Transmission and Adani Enterprises through block deals in March, increased its stake in ITC to 1.44%.
The shareholding pattern for the quarter ended March 31, 2023 (Q4FY23) shows. GQG Partners’ shareholding in the December quarter stood at 1.29%, 1.15% by the end of September and 1.1% by the end of June 2022.
The FPI has steadily been increasing its stake in ITC over the last few quarters. As a whole, data shows that, Category-I FPIs increased their stake to 12.86% as on March 31, 2023, up from 12.51% in December 2022.
Mutual funds had a combined stake of 9.47%, while insurance companies hold 20.39% in ITC as on March 31, 2023. On 17 April, the ITC scrip touched a 52-week high of Rs 402 on the BSE. Despite nearly 20 per cent returns this year, analysts expect the stock to recover and climb 10 per cent from current levels.
Download Money9 App for the latest updates on Personal Finance.
