Patanjali Foods share price gains 5%: CQG Partners raises stake to 11.48% during Q4 from 3.3% at the end of Q3

livemint.com:

Patanjali Foods share price gained 5.2% on Tuesday. The shareholding pattern on the exchanges showed that CQG Partners Funds have increased their stake in Patanjali Foods to 11.38% during Q4. As per the shareholding patterns on the exchanges, GQG Partners Emerging markets equity fund A Series of GQG Partners Series LLC held 9.31% stake in PatanJali Foods at the end of March 2024 quarter (Q4 FY24).

At the end of December'23 quarter (Q3FY24) GQG Partners Emerging markets equity fund A Series held 2.08% stake in Patanjali Foods. GQG Partners Emerging Markets Equity Fund also held another 2.07% stake at the end of March 2024 quarter (Q4FY24). The holding was also raised from 1.22% stake held by the fund in Patanjali Foods at the end of December' 2023 quarter.

Overall GQG Partners funds have increased stake in Patanjali Foods to 11.48% at the end of March'2024 quarter from 3.3% at the end of December'2023 quarter. The GQG Partners funds have regularly been increasing stakes in Patanjali Foods during earlier quarters too. The holding at the end of September 23 quarter (Q2FY24) by GQG Partners funds in Patanjali Foods stood at 3.25% which were higher than 2.73% held by GQG Partners funds at the end of Q1.

Meanwhile PatanjalI foods also had reported string Quarterly updates recently. The company's quarterly performance was stable and driven by good results in the Food & FMCG and Edible Oil segments also did resonably well. The Food & FMCG segment's revenue held strong in the March quarter, with high single-digit growth and steady EBITDA margins.