Shares of Rail Vikas Nigam Ltd. were trading flat after touching a day’s high of Rs 608.60 on 19 July, after the company proclaimed updates regarding stake increase from LIC, MFs, and FPIs.

Domestic Mutual Funds raised their stake to 0.19% from 0.09% in the March quarter. LIC of India increased its stake to 6.44% from 6% during the previous quarter. Foreign portfolio investors expanded their stake to 3.1% from 2.1% in the previous quarter.

No major new shareholder holds more than 1% of the stake. Retail shareholders now exceed 20 lakh, but share prices trade flat.

The number of small shareholders (with less than Rs 2 lakh capital) in RVNL has increased by 2 lakh, reaching a total of 20.5 lakh. This is up from 18.2 lakh small shareholders at the end of March.

Despite the increase in numbers, the percentage of small shareholders decreased from 15.15% to 14.39% in June.

High Networth Individuals (HNIs) depleted their stake from 2.1% in March to 1.6% in June. Corporate bodies have also cut their stake by 10 basis points. The government of India maintains a 72.84% stake in RVNL as of the end of June. The prior sales had primarily come from HNIs and corporate bodies.

At 12:30 PM, the shares of RVNL were trading 0.79% higher at Rs 591 on BSE.

Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!