Retail investors in India's ITC have cashed out while foreign institutional investors continue to buy, according to data gathered by Economic Times. In the two years to end-March 2023, FIIs — excluding those related to British American Tobacco — raised their stake in ITC by 142bps to 14.21%, while mutual fund holdings increased 33bps to 9.47%. Meanwhile, small-time retail investors reduced their stake by 35bps to 11.13% in Q1 2022 despite their numbers swelling to 28.9 lakh as the stock's rally attracted new participants.
