Unmindful of the high-octane family feud in the Reliance promoter group, foreign institutional investors (FIIs) have increased their collective stake in the flagship company Reliance Industries from 22.85 per cent as on September 30, 2004 to 22.97 per cent at the end of December 2004. |
Two FIIs, holding more than 1 per cent each at the end of September, have reduced their holdings but three new FIIs have raised their holdings to more than 1 per cent. |
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Janus Worldwide Fund, which had picked up a 5 per cent stake in Reliance Industries in a high profile transaction in 2001, has reduced its stake in the petrochemicals major to below 1 per cent. |
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According to the shareholding pattern filed with the Bombay Stock Exchange (BSE) for the quarter ended December 31, 2004, Janus which held 23.03 million shares, amounting to a 1.65 per cent stake, as on September 30, 2004 sold off its holdings by December end. |
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Merrill Lynch Capital Markets Espana, which held 21.30 million shares (2.00 per cent )at the end of September 2004, reduced its stake to 1.63 per cent at the end of December. |
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But the Government of Singapore has raised its stake to 1.21 per cent at the end of December. The Singapore government was not listed as an investors holding more than a 1 percent stake at the end of September 2004. |
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Companies report to the exchanges a list of investors holding more than a 1 per cent stake at the end of every quarter. |
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HSBC Global Investment Funds, too has raised its stake to 1.19 percent and Goldman Sachs Investment (Mauritius) to 1.14 per cent at the end of December. Their holdings at the end of September 2004 have not been reported, which can only imply that their individual stakes were less than 1 per cent. |
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Meanwhile, the crore promoter group has purchased 50,750 shares in the quarter October-December 2004, but this has made a very marginal change in the percentages. |
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The promoter family continues to hold a 5.13 per cent stake, with together with the 7.50 percent stake held by the Petroleum Trust, keeps the Promoter's holdings unchanged at 12.63 per cent. |
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In other changes, domestic mutual funds and the UTI have sold 1.229 million shares, pulling down their collective stake from 1.80 per cent to 1.71 per cent. |
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Ordinary investors have sold a good 67 million shares, bringing down their stake from 13.48 per cent at the end of September 2004 to 13.05 at the end of December 2004. |
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