Financial Daily from THE HINDU group of publications
Tuesday, Aug 02, 2005
Financial Daily from THE HINDU group of publications Tuesday, Aug 02, 2005 |
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Info-Tech
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Stocks Markets - Foreign Institutional Investors Foreign holding in Satyam up at 75 pc Our Bureau
Hyderabad , Aug 1 THE total foreign shareholding, including global depository shares (GDRs), has gone up to 75.02 per cent during the quarter ended June 30, up from 67.95 per cent held during the fiscal ended March 2005. In its latest filing with the stock exchanges, the company has informed that the total foreign holding is now estimated at 24,05,89,073 equity shares. This also follows a recent sponsored American depository shares (ADS) offer made in the first quarter, in which about 10 per cent of the total equity was added to foreign holding. The Chief Financial Officer, Mr V. Srinivas, at a recent conference, said that the ADS offer was successful. Foreign institutional holders such as Morgan Stanley, along with other funds, increased their stake in Satyam to 4.5 per cent in the first quarter, up from 3.89 per cent during the last quarter of the previous fiscal. Meanwhile, among domestic institutions, LIC, which was holding about 2.99 per cent in the fourth quarter of the last fiscal, has pared its exposure to 2.2 per cent.
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