Foreign institutional investors (FIIs) have reduced their stake in Jaiprakash Associates by 151 basis points to 19.46 percent in Q2FY16 from 20.97 percent in Q1FY16. Moreover, the domestic institutional investors (DIIs) have trimmed their stake in the company by 69 basis points to 6.41 percent at the end of September 2015 quarter from 7.1 percent as on June30, 2015.
Meanwhile, non institutions were holding 34.75 percent stake at the end of September 2015 quarter, up 220 basis points from 32.55 percent as on June 30, 2015, while the corporate bodies were holding 5.26 percent stake at the end of September 2015 quarter, up 25 basis points from 5.01 percent as on June 30, 2015. Further, the company’s promoters’ shareholding was unchanged at 39.38 percent at the end of September 2015.
Jaypee Group is the country’s third largest cement maker. Swiss major Holcim owns majority stake in both ACC and Ambuja Cement with a combined capacity of around 52 mtpa in India.
