List of companies where promoters have increased their shareholding between Sep 08 and Dec 08 is enclosed. (Its is partial list of course ofcompanies that have filed their Dec shareholding with BSE/NSE). What is pertinent is that the increase in promoters shareholding in most caseshas been at the cost of Foreign Shareholders (read FIIs). The same FIIs had taken placements/ preferential allotments at significantly higherprices and are now selling out at 10-15% of their purchase price. Ibelieve the stock bought by the promoters through creeping acquisitionsin the quarter Oct-Dec 08 would be a record of sorts, not witnessed before in recent times.The other day we saw a bulk deal of a leading FII selling stock ofSatyam at below Rs.14 (This was 75 lakh shares). Surely the FII wouldhave bought the stock at at least Rs.300 (if not Rs.400-500). If he cantake a hit of Rs.286, can't he risk another Rs.13-14. The point is - wecan understand the hapless individual investor doing that but do theFIIs also press panic button listening to people on TV Channels saying the stock will be zero???? (Well, we have no vested interest in Satyam though, just an observation)
Sincerely,
Aayush
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