Financial Daily
from THE HINDU group of publications
Friday, July 13, 2001
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Financial Daily from THE HINDU group of publications Friday, July 13, 2001 |
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Hughes Software: Enhanced interest
THE proposal to raise the eligibility limit for foreign institutional investors may lead to a firm undertone in the Hughes Software stock.
The board of directors have approved a proposal to raise the limit for FIIs from 24 per cent to 49 per cent. The company has an equity base of Rs 16.7 crore.
Hughes Software has emerged as one of the frontline and preferred holding for institutional investors. It has so far managed to buck the effects of the US slowdown.
Since the limit is being doubled, the run-up in prices may not be very sharp. But over a period of time, it could lead to sustained FII interest in the stock and help maintain the firm undertone in the stock. -- BL Research Bureau
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