FPIs, MFs book profit in IRCTC; cut stake during March 2020 quarter

Mutual funds stake in IRCTC more than halved from 4.78% in December quarter to 2.05% in March quarter, while FPIs reduced their holdings to 1.7% from 1.99% during the quarter.

Institutional investors, led by foreign portfolio investors (FPIs) and mutual funds (MFs), have booked profit in shares of state-owned travel support services company Indian Railway Catering and Tourism Corporation (IRCTC) by trimming their stake by over three percentage points in the March quarter.

According to latest shareholding pattern data, total institutional holdings in IRCTC declined to 3.86 per cent as on March 31, 2020. They held 6.91 per cent stake in the company at the end of December 2019 quarter. MFs' stake has more than halved from 4.78 per cent to 2.05 per cent, while that of FPIs has dipped