Rolta India shines as promoters hike stake in the company to over 50%

07 Nov 2013

Rolta India is currently trading at Rs. 71.35, up by 0.60 points or 0.85% from its previous closing of Rs. 70.75 on the BSE.

The scrip opened at Rs. 71.40 and has touched a high and low of Rs. 72.80 and Rs. 70.90 respectively. So far 2,22,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 77.25 on 05-Nov-2013 and a 52 week low of Rs. 50.00 on 12-Jun-2013.

Last one week high and low of the scrip stood at Rs. 77.25 and Rs. 61.65 respectively. The current market cap of the company is Rs. 1,151.00 crore.

The promoters holding in the company stood at 49.08% while Institutions and Non-Institutions held 22.15% and 27.54% respectively.

Rolta India’s promoters have increased their share holding in the company from around 40% to over 50% through creeping acquisitions over the last three years. The promoters continue to increase their holdings further through creeping acquisitions in line with SEBI guidelines.

This is evidence of the confidence of the promoters in the business model of the company, the superiority of its offerings, and the growth potential of the company.

Rolta India conducts business in India, and internationally through subsidiaries in various countries. Rolta is a leading provider of innovative IT solutions built around its intellectual property for many vertical segments, including Federal and State Governments, Defence, Homeland Security, Utilities, Process, Power, Financial Services, Manufacturing, Retail, and Healthcare. The increased holding places Rolta in compliance with Indian Defence manufacturing/procurement guidelines that mandate that bidders have more than 50% holding in the hands of Indian promoters.

Related Rolta India Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323