Broker picks up 5% stake in Texmaco
Kolkata: Shyam Sundar Dalmia, a stock broker based here, has picked up 5-per cent stake in Texmaco, a KK Birla group company. Dalmia's investment firm, Avis Tie-up Pvt Ltd, has informed the company last week regarding its acquisition through market purchases. S K Poddar, vice-chairman of the company, said: "We consider it as an investment acquisition by Dalmia," Poddar said. Dalmia also confirmed the purchases.
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Merrill Lynch stake in Polaris triples to 3.88%
Chennai: Merrill Lynch Capital Markets SA SVB has more than tripled its stake in Polaris Software Lab Ltd to 3.88 per cent (19.99 lakh shares) during the quarter ended 30 June 2003 compared to 1.06 per cent (5.45 lakh shares) the preceding quarter. HSBC Global Investment Funds A/c Global Invest does not figure among the shareholders. The latest shareholding information provides data only of those having a stake of at least 1 per cent.

After consolidation within the Citigroup, Orbitech Ltd's shareholding in Polaris during June quarter was 6.21 per cent (32.01 lakh shares). Earlier during the March quarter, Citicorp Finance (India) transferred 4.85 per cent of its stake in Polaris to Orbitech. The shareholding of mutual funds and UTI during June quarter reduced to 3.93 per cent (20.23 lakh shares) compared to 8.72 per cent (44.91 lakh shares) during March quarter. The UTI — Growth Sector Fund — Software — was a new entrant with a 1.01 per cent stake (5.22 lakh shares).
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Rupee firm
Mumbai: The rupee closed almost unchanged on Monday at 46.1300/1400 against the dollar witnessing good activity. Dollar supplies were seen matching demand with both public sector and even foreign banks seen buying dollars in the market. At 46.1250 levels, the central bank was seen intervening by buying up dollars through its designated public sector banks. The rupee opened at 46.13/14 levels, with the intra-day high being 46.1250 and intra-day low at 46.1600.
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