Wells Fargo, a financial services major, has sold over Rs 106 crore worth of shares of Kolkata-based conglomerate ITC Ltd through an open market transaction. The US-based Wells Fargo, via its affiliate Wells Fargo Emerging Markets Equity CIT, sold 26.55 lakh shares of ITC. These shares were sold at an average price of Rs 401.60 apiece, resulting in a transaction value of Rs 106.62 crore. The shares were purchased by SEI Trust Company.
On Monday, ITC Ltd’s shares rose by 0.51% to close at Rs 397 on the NSE. ITC reported a 1.19% year-on-year growth in its standalone net profit at Rs 5,638.25 crore for the third quarter of the fiscal year. The conglomerate’s gross revenue increased by around 8% year-on-year during the same period.
The company’s gross revenue for the October-December quarter of FY25 stood at Rs 18,055.46 crore, up from Rs 16,701.41 crore in the corresponding period of the previous fiscal year. The growth was mainly driven by strong performance in the cigarette, hotels, and agri businesses.
The transaction was completed on March 3, 2025.
