NRI investor Rajiv Jain-led GQG Partners has increased its stake in Kolkata-based conglomerate ITC Ltd to 3.47% by buying 4.9 crore shares in the March quarter.
At the end of the March quarter, GQG Partners Emerging Markets Equity Fund held a 1.96% stake in ITC, up from 1.87% in Q3.
Besides, Goldman Sachs Trust II - Goldman Sachs GQG Partners International Opportunities Fund owned another 1.51% stake, up 30 basis points sequentially.
Taken together, GQG's stake has now increased from 3.08% to 3.47% on a quarter-on-quarter basis.
In Q4, mutual fund ownership in ITC remained the same at 12.87% while FIIs pared holdings from 40.17% to 39.87% on a QoQ basis. The number of FII investors also fell from 1675 to 974 in Mar quarter.
Earlier in January, ITC saw a major value-unlocking exercise in which ITC Hotels got demerged and listed as a separate entity on the stock exchanges. Analysts say the demerger is a win-win situation for all shareholders, but ITC shares have underperformed in the calendar year 2035 so far by falling around 7% as against a 1% decline in the Sensex.
Last month, in a Rs 3,500-crore deal with The Aditya Birla Real Estate, ITC had acquired Birla's pulp and paper business to bolster its paperboards and specialty papers business.
Besides, the company has also acquired a 43.75% stake in Ample Foods Private Limited (AFPL) for approximately Rs 131 crore. AFPL markets its products under the brands Prasuma and Meatigo, which are available through both online and offline retail channels. The company recorded consolidated revenues of Rs 131 crore in FY 2023–24, up from Rs 91 crore in FY 2021–22, reflecting strong growth momentum.
At the end of the March quarter, GQG Partners Emerging Markets Equity Fund held a 1.96% stake in ITC, up from 1.87% in Q3.
Besides, Goldman Sachs Trust II - Goldman Sachs GQG Partners International Opportunities Fund owned another 1.51% stake, up 30 basis points sequentially.
Taken together, GQG's stake has now increased from 3.08% to 3.47% on a quarter-on-quarter basis.
In Q4, mutual fund ownership in ITC remained the same at 12.87% while FIIs pared holdings from 40.17% to 39.87% on a QoQ basis. The number of FII investors also fell from 1675 to 974 in Mar quarter.
Earlier in January, ITC saw a major value-unlocking exercise in which ITC Hotels got demerged and listed as a separate entity on the stock exchanges. Analysts say the demerger is a win-win situation for all shareholders, but ITC shares have underperformed in the calendar year 2035 so far by falling around 7% as against a 1% decline in the Sensex.
Last month, in a Rs 3,500-crore deal with The Aditya Birla Real Estate, ITC had acquired Birla's pulp and paper business to bolster its paperboards and specialty papers business.
Besides, the company has also acquired a 43.75% stake in Ample Foods Private Limited (AFPL) for approximately Rs 131 crore. AFPL markets its products under the brands Prasuma and Meatigo, which are available through both online and offline retail channels. The company recorded consolidated revenues of Rs 131 crore in FY 2023–24, up from Rs 91 crore in FY 2021–22, reflecting strong growth momentum.
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