FII increases stake in JP Associates to 23.77% June quarter

Foreign institutional investors (FIIs) have increased their stake in Jaiprakash Associates (JP Associates) in April- June quarter. The FIIs have scaled up their exposure in the company to 23.77% in the quarter ended June, 2012, a rise of 100 basis points compared with the immediate previous quarter. FIIs have been piling up positing in the company’s stocks from almost a year which only intensified in the current calendar year.

During this period the company witnessed promoters first cutting and then subsequently raising their ownership, while domestic institutions (DIIs) sold close to 2% of their holding in the company bringing it down from 13.96% to 12.01%.

At the end of June quarter, the promoters holding in the company stood at 45.12% while FII and DII held 23.77% and 12.01% respectively. Moreover, others held 19.10% stake in the company.