IRCON Reports Dip In FII Holdings In June Quarter, Quant MF Increases Stake

Railway infrastructure company IRCON submitted its shareholding pattern for the June quarter on Thursday afternoon

What Happened: According to the latest shareholding pattern, Foreign institutional investors reduced their stake in the PSU company. Foreign Portfolio ownership in IRCON fell to 4.17% in the June quarter compared to a 4.58% stake in the March quarter. 

The number of foreign portfolio investors (FPI) in the company also fell to 121. In comparison, 128 FPIs invested in IRCON in the March 2024 quarter. 

On the other hand, Mutual fund ownership in the stock increased in the June quarter. Mutual fund investment grew to 1.67% in the June quarter from 0.45% stake in the March quarter. 

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Among these Quant Active Fund increased its stake to 1.15% in the June quarter according to the shareholding data. 

There was no change in the Central government's 65.17% stake in the company. 

Recently IRCON won a ₹750 crore order from Rail Vikas Nigam to work on a broad gauge ballastless track (BLT) between Rishikesh and Karanprayag (125 km) in Uttarakhand.  

The company as of June 21, had an order book of ₹27,208 crore

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