Foreign Institutional Investors (FIIs) have raised their stake in Maharashtra Seamless to 13.58% in Q4 FY14 from 13.51% as on December 31, 2013.
On the other hand, domestic institutional investors’ (DIIs) shareholding went down to 7.52% at the end of March 2014 quarter from 8.70% as on December 31, 2013. Under DIIs, mutual funds / UTI held maximum stake of 6.06%, followed by insurance companies (1.40% stake) and financial institutions / banks (0.06% stake).
Meanwhile, promoter and promoter group shareholding went down to 57.39% at the end of March 2014 quarter from 57.07% as on December 31, 2013.
Maharashtra Seamless is engaged in the business of manufacturing pipes and tubes. Company is part of Rs.3000 Crore DP Jindal Group. Company also manufactures ERW pipes and seamless pipes.
