Bharat Dynamics reported its latest shareholding data with the exchanges on Tuesday evening.

What Happened: Mutual funds cut stake in the defence major during the July-September quarter. Mutual fund holding in the company currently stands at 4.64%, down from the 5.67% posted at the end of June quarter. HDFC Trustee Company now owns 1.21% shares of the company, down from the 1.96% stake they held at the end of June.

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Foreign institutional investors also pared down their stake during the July-September period. FIIs now hold 2.9% shares of the company, compared to the 3.06% stake they held at the end of the previous quarter.

On the other hand, India’s biggest insurer, LIC raised its stake in the company. LIC currently owns a 2.19% stake in the company, up from the 1.83% stake it held at the end of June.

In its preview note for the upcoming earnings, Antique Broking estimates Bharat Dynamics to report a 14% jump in revenue to ₹701 crore with a net profit of ₹157 crore.

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