Financial services major Wells Fargo on Monday sold diversified conglomerate ITC Ltd’s shares worth over Rs 106 crore through an open market transaction.
US-based Wells Fargo, through its affiliate Wells Fargo Emerging Markets Equity CIT, sold 26.55 lakh shares of Kolkata-headquartered ITC, according to the block deal data released on the National Stock Exchange.
The shares were disposed of at an average price of ₹401.60 apiece, taking the transaction value to ₹1,06.62 crore. These shares were bought by SEI Trust Company through its arm.
On Monday, shares of ITC Ltd rose 0.51 per cent to close the day at ₹397 apiece on the NSE.
ITC reported around 1.19 per cent year-on-year growth in its standalone net profit at ₹5,638.25 crore for the third quarter this fiscal, backed by around 8 per cent y-o-y increase in its gross revenue during the period.
The conglomerate had posted a net profit of₹5572.07 crore during the third quarter last fiscal. The cigarette-to-soap maker’s gross revenue for the October-December quarter of FY25 soared to ₹18,055.46 crore from ₹16,701.41 crore for the corresponding period of FY24, driven by good growth in cigarette, hotels and agri businesses.
