Business Daily from THE HINDU group of publications
Friday, Jun 30, 2006
Business Daily from THE HINDU group of publications Friday, Jun 30, 2006 |
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Markets
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Stock Markets Our Bureau
The deal MphasiS BFL: FMR Corp and Fidelity International, along with their subsidiaries, offloaded 78.6 lakh shares. Goldman Sachs Investments (Mauritius) recently bought 25,000 shares, amounting to 0.04 per cent, of Jain Irrigation.
Kolkata , June 29 A clutch of institutional investors, mutual funds included, have lately stepped up activity on the secondary market, as a review of recent deals struck on the stock exchanges indicate. HDFC MF and Reliance MF among asset management companies as well as Fidelity, Goldman Sachs and Standard Chartered have made their presence felt, courtesy transactions in a host of companies. The latter include the likes of GlaxoSmithKline Consumer Healthcare, MphasiS BFL, Dhampur Sugar, Jain Irrigation and GTL. MphasiS BFL has informed the NSE that FMR Corp and Fidelity International, along with their subsidiaries, have offloaded 78.6 lakh shares (aggregating to 4.88 per cent of the total share capital) of the company. Their holding after the deal now stands at 2.36 per cent. Goldman Sachs Investments (Mauritius) has declared that it has recently taken 25,000 shares, amounting to 0.04 per cent of Jain Irrigation. The mode of acquisition is through market purchases. The shareholding of Goldman Sachs after the acquisition is 5.03 per cent of the company's paid-up base. GTL Ltd has advised the NSE that Standard Chartered Investments and Loans (India) has acquired 18.7 lakh shares, aggregating to 2.19 per cent. The mode of acquisition is by way of pledge in terms of explanation to Regulation 7 and the shareholding of Standard Chartered Investments and Loans (India) stands at 17.6 per cent. HDFC MF has, through various schemes, taken positions in GlaxoSmithKline Consumer Healthcare. The schemes include HDFC Prudence Fund, which has acquired two lakh shares, accounting for 0.47 per cent of the company's total capital. The shareholding of HDFC MF is now over 21 lakh shares, amounting to 5.14 per cent. The other schemes are HDFC Long Term Equity Fund, HDFC Long Term Advantage Fund, HDFC Multiple Yield Fund, HDFC Monthly Income Plan - Long Term Plan and HDFC Top 200 Fund. Reliance MF has, with regard to Dhampur Sugar Mills, utilised two vehicles — Reliance Growth Fund and Reliance Portfolio Management Services — to sell three lakh shares, aggregating to 0.65 per cent of the company's capital. Reliance Growth Fund now holds over 15 lakh shares, which account for 3.4 per cent of its total paid-up.
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