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MFs pump Rs.3,500 crore into debt in July
Bangalore: With the Sensex having touched 7,700, mutual funds have been bullish on debt, having turned net buyers with over Rs3,500 crore being pumped in, according to Securities and Exchange Board of India (Sebi) data in July. On the other hand, till July 28, funds were net buyers of equities to the tune of only Rs50.13 crore.

This is the fourth time in a row in the current fiscal when funds have pumped in more into debt as compared to equities.

April 2005 was the best month when funds were net buyers in debt to the tune of Rs5,034.78 crore, followed by May when it was Rs4,705.43 crore and now July.

In June funds were net sellers on the equity front.

Fund managers say that most of the buying in July has happened with debt fund schemes (notably short-term, liquid and floating) investing in CDs (certificate of deposits floated by banks) to the tune of Rs1,500 crore to Rs2,000 crore.

Incidentally, during the last two days of July, banks like ICICI Bank and UTI Bank redeemed over Rs1,000 crore of CDs.
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India Inc's investments in quoted securities rise in value
Mumbai: The value of India Inc's investment in the stock market has swelled by Rs17,200 crore over the last 16 months.

The book value of corporate sector's investment in quoted securities was Rs18,808 crore on March 31, 2005. This included a fresh investment of Rs6,000 crore made during the year.

The market value of this investment was Rs31,500 crore in March end this year. Riding high on the bull run in the stock markets, this kitty further appreciated by Rs4,500 crore taking their market value to Rs36,000 crore by July end. However, most of these investments are in group companies.

This study is based on the market value of quoted investment of 705 companies on March 31, 2005. The data have been sourced from Capitaline Plus, the corporate data package maintained by the capital markets.

Tata Steel is the biggest beneficiary of the stock market "boom" with its quoted investments of Rs313 crore appreciating by over Rs 1,900 crore. Tata Steel has investments in group companies such as Tata Motors, Tata Power, Tata Investment and others.

Bajaj Auto is the second biggest gainer of stock markets boom with its market value of its quoted investment rising by over Rs1,470 crore. Bajaj Auto has total investment of Rs4,292 crore, which is currently valued at Rs5,763 crore. The company has invested Rs394 crore in ICICI Bank which is now valued at Rs1,236 crore.

Reliance Industries is the third largest gainers in the list with its investment in group companies appreciating by Rs1,290 crore. Tata Investment raked in Rs1,156 crore through its quoted investments of Rs295 crore.

The company has investment in 21 sectors, with major being banks, cement, chemicals and fertilizers, energy, engineering, automobile, IT, oil and others.

Tata group flagship Tata Motors gained Rs1,011 crore on its investment of Rs431 crore, Grasim Industries, flagship of the AV Birla group, raked in Rs854 crore through its investments of Rs2,243 crore. Tata Chemicals gained Rs731 crore and Hindalco Rs675 crore.
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Franklin Templeton ups exposure in CCL Products and Rallis
Hyderabad: Franklin Templeton Mutual Fund has informed the National Stock Exchange that its various schemes have recently acquired shares of CCL Products (India) Ltd.

While the Franklin India Prima Fund (FIPF) has acquired 7.98 lakh shares aggregating to 6 per cent of the share capital of CCL Products (India) Ltd, Franklin FMCG Fund (FFF) has acquired 24,933 shares aggregating to 0.19 per cent.

The acquisition was done through the market on July 25.
The shareholding of Franklin Templeton Mutual Fund, post acquisition, has gone up to 8.76 per cent of the share capital of CCL Products.

It also said that it has acquired 5.67 per cent stake in Rallis India. While FIPF has acquired 2.50 per cent, Opportunities Fund bought 2.33 per cent and Prima Plus scheme 0.84 per cent, aggregating 5.67 per cent in the share capital of Rallis India.
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FIIs increase stake in Hexaware Tech
Chennai: Foreign Institutional Investors (FIIs) have increased their stake in Hexaware Technologies Ltd to 33.22 per cent during June 2005 quarter compared to 24.43 per cent in the April quarter and 23.12 per cent in December 2004 quarter, according to information available with the Bombay and National stock exchanges.

Among the FIIs, the GMO Emerging Markets Funds increased its stake in the company to 5.56 per cent in the June quarter, as compared to 2.67 per cent in the previous quarter.

However, other FIIs such as Citigroup Global Market Mauritius Pvt Ltd and Copthall Mauritius Investment marginally reduced their stakes in Hexaware during the June quarter.

CLSA Merchant bankers Ltd A/c Calyon, which was not in the list of FIIs holding stake of 1 per cent and above in the company in the April quarter, ended the June quarter with a 2.17 per cent stake in the company.

Similarly, Deutsche Securities Mauritius, which was not in the April list of 1 per cent and above shareholding, ended the June quarter with a 1.61 per stake in the company, information available in the stock exchanges says.

On July 29, Hexaware's stock closed at Rs101.70 on the BSE and Rs102.70 on the NSE.
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