Apollo Tyres, EIH see rise in promoters' stakes.
Economic Times (New Delhi, India), November, 2005
Byline: Ashwin J Punnen
Nov. 15--MUMBAI, India -- Promoters have been making bumper profits in Q2 by offloading stakes in their companies at high valuations. They have been selling stakes in A group companies such as Arvind Mills (-2.5 percent) and India Cements (-2.5 percent).
The shareholding in some leading IT companies, including Satyam, Wipro, HCL Info, iGATE, Patni and Infosys, has come down in the second quarter. Promoters' stake fell by 0.74 percent in Satyam, 0.31 percent in Wipro, 1.4 percent in HCL Info, 0.09 percent in Infosys and by 3.37 percent in iGATE.
In many B1 and B2 companies, the dilution of promoter holdings is partly because of the expansion of equities on account of conversion of FCCBs. In many other cases, promoters...
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