Business Daily from THE HINDU group of publications
Friday, Feb 27, 2009
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Business Daily from THE HINDU group of publications Friday, Feb 27, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Markets
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Foreign Institutional Investors Info-Tech - Stocks
Our Bureau Mumbai, Feb. 26 The Fidelity group further increased its stake in Satyam Computer Services this month, taking its shareholding to 8.89 per cent in the company. The FII group acquired 0.45 per cent stake in the company through open market transactions made on February 9 this year, according an announcement made by Satyam to NSE on Thursday. The stake increase was done through two units of Fidelity — FMR (Fidelity Management & Research Co) LLC and FIL Ltd (FIL), as well as their direct and indirect subsidiaries. Together they bought 30 lakh shares in the beleaguered IT company. The deal size can be estimated to be between Rs 13.35 crore and Rs 15 crore, going by Satyam’s stock price on February 9, which spanned a high of Rs 50 and a low of Rs 44.50. On buying spreeAccording to the data on NSE, Fidelity’s FID FDS-Mauritius Ltd holds 5.78 per cent stake, FA Diversified International holds 0.45 per cent stake, FID Asia Ex-Japan Tech Pilot 1641 shares and FID Diversified International Sub A 2.67 per cent stake in Satyam Computer; the group’s stake amounting to 8.89 per cent in the company. Fidelity Group had bought more than 2.67 crore Satyam shares through bulk deals in late January, after which its stake in the company was brought to nearly 6.8 per cent. The group continued to buy small quantities in the company since. As on December (2008) end, and before the admission of fraud in Satyam by its founder-promoter, Fidelity group’s stake stood at 3.41 per cent. The stock of Satyam, for the second consecutive day, closed at Rs 45.15 on Thursday recording no change from the previous close. More Stories on : Foreign Institutional Investors | Stocks | Satyam Computer Services Ltd | Software
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