Share price of this large-cap FMCG stock moved up by nearly 0.72% on NSE to Rs. 425.5 in the morning trading session of March 14th, compared to its previous close of Rs. 422.45, after Marquee Investors bought stake in the company worth Rs. 3,901 crore, through open market transactions.
With a market capitalisation of Rs. 5.28 lakh crores, at 01:22 p.m. the shares of ITC Limited were trading in the green at Rs. 423.95, up by 0.36 percent.
In the last one year, the company has delivered positive returns of about 11.65 percent. However, it has delivered negative returns of nearly 5.7 percent in the last six months and about 9.4 percent, so far in 2024.
According to the bulk deal data available on the BSE, ICICI Prudential Mutual Fund bought around 59.26 lakh equity shares in the company on Wednesday at an average price of Rs. 400.25, for a total transaction value of about Rs. 237.19 crore.
Further, the Government of Singapore also bought around 9.15 crore equity shares in ITC, totalling Rs. 3,664.11 crore at an average price of Rs. 400.25.
However, on the same day, Tobacco Manufacturers (India) Limited sold roughly 21.84 crore shares of ITC Limited at an average price of Rs. 400.25, and the total transaction value was Rs. 8,742.48 crore.
In terms of financials, the revenue from operations of the company grew by nearly 1.37 percent QoQ from Rs. 17,774 crore in Q2 FY23-24 to Rs. 18,019 crore in Q3 FY23-24.
The net profit of the company increased by around 8.9 percent QoQ, from Rs. 4,965 crore in Q2 FY23-24 to Rs. 5,407 crore in Q3 FY23-24.
As of December 2023, FIIs hold 43.26 percent of the shares, whereas DIIs hold 41.98 percent of the shares in the company, aggregating to 85.24 percent of the institutional holdings.
ITC Limited is one of the leading private sector companies and a diversified conglomerate in India, with businesses spanning Fast Moving Consumer Goods, Hotels, Paperboards and Packaging, Agri Business and Information Technology.
Written by Shivani Singh
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