| Foreign institutional investors (FIIs) sold almost their entire stake in the erstwhile Global Trust Bank in the April-June 2004 quarter. FIIs, which held a 4.91 per cent stake at the end of the quarter ended March 2004, cut their holdings to just 0.98 per cent at the end of the June quarter. |
| Goldman Sachs Investment (Mauritius), the sole FII which held a 4.53 per cent stake in the bank at the end of March, cut its stake to below one per cent. |
| European Investment, a registered overseas corporate body (OCB), sold its entire 3.78 per cent stake in the bank during the June 2004 quarter. |
| Other FIIs which had invested in the bank till December 2001 "" such as DBMGOF (Mauritius) that held five per cent and Credit Suisse First Boston A/C Kallar Kahar Investment which held a 1.57 per cent stake "" offloaded their entire stake in the bank by the end of the quarter ended March 2002. |
| However, the public was left holding the baby. With the GTB promoters signalling that they were working on a rescue package, the general public bought an additional 6.4 per cent stake in the market on hopes of positive developments in the bank. |
| As a result, the total public holding in the bank increased from 44.88 per cent at the end of the quarter ended March 2004 to 51.28 per cent at the end of the June quarter. |
| The stock's price touched an all time high of Rs 114.70 on November 2000 on the Bombay Stock Exchange (BSE). It touched a lifetime low of Rs 11.02 on July 17, but bounced back 20 per cent in one week to close at Rs 13.17 last Friday, July 23. |
| Average monthly volumes of the scrip also went up in the current month. The total combined volumes on the BSE and NSE increased 55 per cent from 12.86 lakh equity shares in June 2004 to 19.91 lakh shares till July 23. In May, the counter reported average daily volumes of 11.03 lakh shares. |
| The stock closed at Rs 10.54, at the 20 per cent lower circuit filter on the BSE, yesterday. |
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