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The Economic Times
The Economic Times
Debaroti Adhikary

ITC shares rise 2% a day after hitting a 52-week low following GQG’s Rs 9,395 crore stake sale. What lies ahead?

ITC Rajiv Jain GQG Debaroti Adhikary FMCG HDFC Securities Oil SEBI

ITC shares rose around 2% on Friday as the stock recovered some losses a day after tumbling to a 52-week low as Rajiv Jain-backed GQG sold shares worth around Rs 9,395 crore in a block deal, reducing its stake in the FMCG major after the stock crashed 30% in 2026 so far amid multiple headwinds.

GQG-linked emerging markets fund sold nearly 37 crore ITC shares at Rs 257.35 apiece in a large block deal on Wednesday, even as Fidelity, ICICI Prudential Mutual Fund, SBI Mutual Fund and other domestic and foreign investors bought into the FMCG major. As of June 2026, GQG held a 3.12% stake in ITC, equivalent to 38.99 crore shares.

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