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FIIs raise stake in Maharashtra Seamless Q4 FY14

22 Apr 2014 Evaluate

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.

Peers
Company Name CMP
JSW Steel 1169.00
Tata Steel 173.60
Steel Authority 171.50
Jindal Stainless 707.85
APL Apollo Tubes 2105.10
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