MFs book profit in IRCTC, trim stake by 2.5% as stock zooms 87% in Q2

In Q2, domestic mutual funds' stake in IRCTC declined to 4.78 per cent from 7.28 per cent in Q1

Domestic mutual funds (MFs) offloaded 4 million, or 2.5 per cent stake, in Indian Railway Catering and Tourism Corporation (IRCTC) in July-September quarter (Q2FY22), as stock of the state-owned travel support services company reported a record 87 per cent rally during the quarter.

According to Q2 shareholding pattern filed by IRCTC, MFs' stake in the company declined to 4.78 per cent from 7.28 per cent at the end of June quarter (Q1FY22). Nippon Life India and Aditya Birla Sun Life's holding, for instance, fell below 1 per cent from 1.38 per cent and 1.04 per cent, respectively, at the