UTI reduces exposure in Infosys to 7.05 per cent

Anand Krishnamoorthy

Chennai, Oct 15: The Unit Trust of India (UTI) has marginally reduced its exposure in Infosys Technologies Ltd to 7.05 per cent of the paid-up share capital as on September 30, 2001 as against 7.81 per cent as on June 30, 2001.

UTI, which holds 46.63 lakh shares valued at Rs 1,374 crore, continues to be the single largest shareholder in Infosys.

“Clearly, the Trust has not engaged in any distress sales of the shares. Nothing much should be read into the stake reduction,” said an analyst with a domestic brokerage house.

Meanwhile, foreign institutional investors (FII) have increased their stake in Infosys to 34.61 per cent of the paid-up share capital as against 32.79 per cent at the end of the June quarter. Banks, financial institutions and insurance companies have cut their combined exposure to 0.98 per cent (2.66 per cent).

The employees stake in the company has marginally reduced to 6.79 per cent (6.93 per cent).

The promoter’s stake has shown a minor decrease to 28.92 per cent (28.98).

Foreign funds such as Government of Singapore has cut its stake to 5.40 per cent (5.98 per cent). Emerging Markets Growth Fund Inc has increased its stake to 6.51 per cent (5.78 per cent), Capital International to 3.02 per cent (2.39 per cent) and Morgan Stanley Dean Witter Inv. to 1.83 per cent (1.17 per cent).

Among the promoter’s group, Ms Sudha Gopalakrishnan holds 20.41 lakh shares accounting for 3.09 per cent of the paid-up share capital. Mr NR Narayana Murthy holds 6.04 lakh shares, Mr Nandan M Nilekani 14.21 lakh shares, Mr S Gopalakrishnan 10.38 lakh shares and Mr NS Raghavan 7.01 lakh shares.