ICICI Prudential Mutual Fund Increases Stake in PI Industries to Over 7%
ICICI Prudential Mutual Fund Boosts Stake in PI Industries
ICICI Prudential Mutual Fund has increased its shareholding in PI Industries to 7.16% from 5.12% after purchasing an additional 4.38 lakh shares on 20 May 2026. This move indicates continued institutional confidence in the company, with the fund house acquiring more than 30.9 lakh shares since its last disclosure in October 2025.
As of March 2026, ICICI Prudential Mutual Fund held a 6.99% stake (10,599,897 shares) in the company, according to BSE data. The fund house clarified that the stake increase is solely for investment purposes and does not involve any intent to gain controlling interest in the company.
PI Industries reported a consolidated net profit of ₹200 crore for the quarter, marking a 39% year-on-year decline from ₹330 crore in the corresponding period last year. Revenue from operations fell 12% to ₹1,565 crore against ₹1,787 crore a year ago, while EBITDA declined 26% YoY to ₹337 crore amid continued pressure on margins and muted demand conditions.
| Financial Year | Net Profit (₹ crore) | Revenue (₹ crore) |
|---|---|---|
| FY25 | 1,660 | 7,977 |
| FY26 | 1,320 | 6,713 |
The company posted a 20% decline in net profit for FY26 compared to FY25. Annual revenue also declined 16% for the same period. Despite softer earnings, the board recommended a final dividend of ₹70 per equity share for FY26, subject to shareholder approval at the upcoming AGM. Including the interim dividend of ₹5 per share already paid, the total dividend payout for the year stands at ₹75 per share.
The PI Industries share price today jumped over 3% with the stock touching an intraday high of ₹2,820.10 per share on the BSE and hitting an intraday low of ₹2,742.05 per share. However, experts predict that the bearish trend may continue. According to Ruchit Jain, Head - Equity Technical Research, Wealth Management, Motilal Oswal Financial Services, the PI Industries share price has been forming a lower top-lower bottom formation and is thus in a downtrend.
Anshul Jain, Head of Research at Lakshmishree, noted that PI Industries is nearing a crucial technical inflexion point as the stock trades close to the lower end of its 172-week base formation in the ₹2,750–2,800 range. This zone has historically served as a strong support area, but multiple retests have weakened the structure, while momentum indicators on higher timeframes remain bearish.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Investor Takeaway
Investors should note that ICICI Prudential Mutual Fund's increased stake in PI Industries is for investment purposes only and does not indicate a controlling interest.
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