IRCON International reported its latest shareholding data on Tuesday evening.
What Happened: Mutual funds pared down their stake in the railway infra company during the September quarter. Mutual fund holdings in the stock currently stand at 0.31%, down from the 1.67% reported at the end of the June quarter. Quant Active Fund exited the stock during the July-September period. The mutual fund house held a 1.15% stake in the company at the end of the June quarter.
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Foreign institutional investors also sold off IRCON shares in the September quarter. FII holding in the stock came down to 3.94% from 4.17% at the end of June.
Retail investors, on the other hand, raised their stake in the company. Retail investors now hold a 25.56% stake in the company, up from the 23.41% reported at the end of June.
As per Antique Broking’s estimates, IRCON is expected to report an around 10% dip in its revenue at ₹2,595 crore with a net profit of ₹204.6 crore in the upcoming quarterly results.
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