Business Daily from THE HINDU group of publications
Tuesday, Jun 27, 2006
Business Daily from THE HINDU group of publications Tuesday, Jun 27, 2006 |
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Foreign Institutional Investors Markets - Stocks Money & Banking - Housing Finance Our Bureau
Mumbai , June 26 A block deal in shares of Housing and Development Finance Corporation on the BSE saw over 74.77 lakh shares change hands between two Citibank group investment companies today. Citigroup Holdings Mauritius Ltd bought 74.77 lakh shares from Citigroup Global Markets Mauritius Pvt Ltd at Rs 1,085 a share, with over Rs 800 crore changing hands. However in the momentum of the general southward direction of the markets today, the HDFC scrip was dragged down by Rs 57.15 on the BSE today. It closed at Rs 1,046.25 losing 5.18 per cent over the trading day. Foreign financial institutions owned a 67.92 per cent stake in HDFC as on March 31, 2006. The total foreign shareholding, including that of FIIs, overseas corporate bodies, non-resident individuals, and foreign direct investors, is 79.3 per cent. In May this year, Citigroup companies had decided to acquire 9.27 per cent stake in Housing and Development Finance Corporation Ltd from Standard Life. Some of the FII, (as on March 31, 2006) stakeholders in the company are CLSA, Europacific Growth Fund,Crown Capital, Morgan Stanley, Aberdeen International India Opportunities Fund. Citibank recently picked up a stake of under 3 per cent in Videsh Sanchar Nigam Ltd through the purchase of American depository receipts.
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