GQG Partners sells Rs 24,400 cr worth of Indian stocks in 2026; ITC, Adani shares among key exits
ITC is in focus in an institutional flows development.
· Economic Times Markets, ET Stocks
GQG Partners has recently executed a block deal, offloading ITC shares worth approximately ₹9,395 crore. The firm has also downplayed its presence in several Adani Group enterprises this year, while simultaneously ramping up investments in JSW Energy and JSW Steel during the June quarter.
The analysis
ITC reported Rs 24,400 cr, ₹9,395 crore and ₹24,400 crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +4.3% on the day at ₹266.00, and has returned -6.7% over three months. It sits 37% below its 52-week high, which means a good deal of bad news was already in the price. The fmcg sector has moved -5.1% over the same period, so ITC is running 1.6 points behind its peers.
This is a Promoter stake / pledge event. Promoters transact with better information than the market. Direction against the price trend is the signal — accumulation into weakness reads differently from a sale into strength. On the day the stock is +4.3%, so the tape moved decisively on this.
Why it matters
- Sustained FII or DII direction moves the whole market, not just the names being bought — it sets the tape's tone.
Market context
- It touches several names at once (ITC, JSWENERGY, JSWSTEEL), which points to a sector-level rather than company-specific driver.
- Sector exposure: FMCG, Power, Metals & Mining.
In this story
Related coverage
Stock Market Crash LIVE: Sensex Tanks Over 1,200 Points, Nifty 50 Below 22,200; ITC, JSW Steel, IndiGo Among Top Losers
GIFT Nifty up 72 points; TCS, ITC, Lupin, Hexaware, JSW Steel IRB Infra, NCC among stocks in focus
ITC stock rallies 5%, sees sharpest intraday rally in 6 months; here's why
GQG Partners entities sell 2.91% stake in ITC for ₹9,395 cr in block deal
ITC Share Price Falls 2% As 36 Crore Shares Change Hands In Block Deal