Latest news with #GQG
Economic Times
3 days ago
- Business
- Economic Times
Adani bull GQG raises stake in ITC to 5.47% following BAT's partial exit
US-based investment firm GQG Partners has increased its stake in ITC Ltd, one of India's largest consumer goods companies, through a bulk deal on May 28. The move comes just days after British American Tobacco (BAT), ITC's largest shareholder, sold a portion of its holding. ADVERTISEMENT In a regulatory filing, GQG disclosed that it acquired an additional 0.51% stake in ITC, taking its total holding to 5.47% of the company's paid-up capital. Before this acquisition, GQG and persons acting in concert (PACs) held 4.96% in ITC. The deal was executed through the stock exchange on May 28 and settled on May 29. GQG Partners LLC, led by investor Rajiv Jain, acted as the investment manager for the entities involved and made the investment decisions on their behalf. The shares acquired are fully paid-up equity shares with a face value of Rs 1 each. The timing of this acquisition is notable. It came just after BAT sold 2.5% of its stake in ITC for approximately Rs 12,900 crore through block deals. BAT, a long-term strategic investor in ITC, reduced its stake from 25.4% to 22.9% following this sale. Despite the reduction, BAT remains ITC's largest stated that the proceeds from the stake sale will go toward enhancing its existing share buyback programme, which now stands at £1.1 billion for is not the first time BAT has pared its stake in ITC. In March 2023, the UK-based tobacco giant sold 3.5% of its holding to institutional investors via block deals. ADVERTISEMENT ITC, a diversified conglomerate headquartered in Kolkata, operates across sectors such as FMCG, hotels, paperboards, packaging, and agribusiness. Its stock is widely held by both domestic and foreign institutional investors and is considered a key component of many long-term GQG's latest purchase, market watchers believe the institutional interest in ITC remains strong, even as legacy shareholders like BAT unlock value. Analysts suggest this increased participation could help improve liquidity and strengthen ITC's positioning among global funds. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
3 days ago
- Business
- Time of India
Adani bull GQG raises stake in ITC to 5.47% following BAT's partial exit
US-based investment firm GQG Partners has increased its stake in ITC Ltd , one of India's largest consumer goods companies, through a bulk deal on May 28. The move comes just days after British American Tobacco (BAT), ITC's largest shareholder, sold a portion of its holding. In a regulatory filing, GQG disclosed that it acquired an additional 0.51% stake in ITC, taking its total holding to 5.47% of the company's paid-up capital. Before this acquisition, GQG and persons acting in concert (PACs) held 4.96% in ITC. The deal was executed through the stock exchange on May 28 and settled on May 29. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo GQG Partners LLC, led by investor Rajiv Jain, acted as the investment manager for the entities involved and made the investment decisions on their behalf. The shares acquired are fully paid-up equity shares with a face value of Rs 1 each. The timing of this acquisition is notable. It came just after BAT sold 2.5% of its stake in ITC for approximately Rs 12,900 crore through block deals. BAT, a long-term strategic investor in ITC, reduced its stake from 25.4% to 22.9% following this sale. Despite the reduction, BAT remains ITC's largest shareholder. BAT stated that the proceeds from the stake sale will go toward enhancing its existing share buyback programme, which now stands at £1.1 billion for 2025. Live Events This is not the first time BAT has pared its stake in ITC. In March 2023, the UK-based tobacco giant sold 3.5% of its holding to institutional investors via block deals. ITC, a diversified conglomerate headquartered in Kolkata, operates across sectors such as FMCG, hotels, paperboards, packaging, and agribusiness. Its stock is widely held by both domestic and foreign institutional investors and is considered a key component of many long-term portfolios. With GQG's latest purchase, market watchers believe the institutional interest in ITC remains strong, even as legacy shareholders like BAT unlock value. Analysts suggest this increased participation could help improve liquidity and strengthen ITC's positioning among global funds.
Business Insider
7 days ago
- Business
- Business Insider
GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh (GQG) Gets a Buy from Morgans
In a report released today, Scott Murdoch CFA from Morgans maintained a Buy rating on GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh (GQG – Research Report), with a price target of A$2.65. The company's shares closed today at A$2.09. Confident Investing Starts Here: Murdoch CFA covers the Financial sector, focusing on stocks such as GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh, Magellan Financial Group Ltd, and HUB24 Limited. According to TipRanks, Murdoch CFA has an average return of 9.1% and a 50.89% success rate on recommended stocks. GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh has an analyst consensus of Strong Buy, with a price target consensus of A$2.96, a 41.63% upside from current levels. In a report released on May 12, UBS also maintained a Buy rating on the stock with a A$2.75 price target. The company has a one-year high of A$3.11 and a one-year low of A$1.71. Currently, GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh has an average volume of 3.23M. Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GQG in relation to earlier this year.
Business Insider
14-05-2025
- Business
- Business Insider
GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh (GQG) Gets a Buy from Jarden
Jarden analyst Elizabeth Miliatis maintained a Buy rating on GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh (GQG – Research Report) on May 9 and set a price target of A$3.20. The company's shares closed today at A$2.39. Protect Your Portfolio Against Market Uncertainty The word on The Street in general, suggests a Strong Buy analyst consensus rating for GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh with a A$2.94 average price target, representing a 23.01% upside. In a report released yesterday, UBS also maintained a Buy rating on the stock with a A$2.75 price target. GQG market cap is currently A$7.21B and has a P/E ratio of 10.92. Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GQG in relation to earlier this year.
Business Insider
12-05-2025
- Business
- Business Insider
UBS Keeps Their Buy Rating on GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh (GQG)
In a report released today, Shreyas Patel CFA from UBS maintained a Buy rating on GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh (GQG – Research Report), with a price target of A$2.75. The company's shares opened today at A$2.33. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Patel CFA is ranked #1027 out of 9472 analysts. The word on The Street in general, suggests a Strong Buy analyst consensus rating for GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh with a A$2.89 average price target, representing a 24.03% upside. In a report released yesterday, Macquarie also maintained a Buy rating on the stock with a A$2.90 price target. The company has a one-year high of A$3.11 and a one-year low of A$1.71. Currently, GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh has an average volume of 3.08M. Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GQG in relation to earlier this year.
