 "Kaveri Seed Company dips on FII selling")
Kaveri Seed Company has dipped nearly 4% to Rs 370 on the BSE after the foreign institutional investor (FII) sold more than 1% stake of the company through open market.
On January 6, 2016 Smallcap World Fund INC had sold 813,354 equity shares representing 1.2% stake in Kaveri Seed Company at Rs 387 per share, the BSE bulk deal data shows. The name of buyers not immediately ascertained.
Between October 1, 2015 and January 6, 2016, Smallcap World Fund Inc offloaded more than half or 1.95 million shares of the company via open market.
Smallcap World Fund INC held 3.09 million or 4.47% stake in the company at the end of September 2015 quarter, the shareholding pattern data shows.
Meanwhile, ICICI Prudential Mutual Fund alongwith Eastspring Investments (Singapore) had purchased 829,350 shares or 1.2% stake of the company through secondary market on December 31, 2015, Kaveri Seed said in a BSE filing.
The company engaged in other agricultural products had posted 35% year-on-year dropped in net profit at Rs 171 crore for the first half (April-September) of the financial year 2015-16. EBITDA (earnings before interest, taxes, depreciation and amortization) margin declined to 23.8% in H1FY16 from 25.7% in H1FY15.
The stock hit a 52-week high of Rs 1,077 and 52-week low of Rs 301 on the BSE.
On January 6, 2016 Smallcap World Fund INC had sold 813,354 equity shares representing 1.2% stake in Kaveri Seed Company at Rs 387 per share, the BSE bulk deal data shows. The name of buyers not immediately ascertained.
Between October 1, 2015 and January 6, 2016, Smallcap World Fund Inc offloaded more than half or 1.95 million shares of the company via open market.
Smallcap World Fund INC held 3.09 million or 4.47% stake in the company at the end of September 2015 quarter, the shareholding pattern data shows.
Meanwhile, ICICI Prudential Mutual Fund alongwith Eastspring Investments (Singapore) had purchased 829,350 shares or 1.2% stake of the company through secondary market on December 31, 2015, Kaveri Seed said in a BSE filing.
The company engaged in other agricultural products had posted 35% year-on-year dropped in net profit at Rs 171 crore for the first half (April-September) of the financial year 2015-16. EBITDA (earnings before interest, taxes, depreciation and amortization) margin declined to 23.8% in H1FY16 from 25.7% in H1FY15.
The stock hit a 52-week high of Rs 1,077 and 52-week low of Rs 301 on the BSE.
