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FIIs eye gems & jewellery firms for major investments, says ASSOCHAM
11 Aug '05
3 min read
The largest increase of the FII exposure among top 10 textile firms was seen in Jindal Poly Films (9.47 per cent) followed by Raymond (2.38 per cent) and Himatsingka Seide (1.07 per cent). The average increase of the FII participation in the leading textile companies' was 5.05 per cent during first six months of the Calendar 2005, tracked by the AEP study.
The average FII exposure in the top 10 hotel and hospitality firms has gone up by 5.01 per cent between December end, 2004 and June end, 2005. Indian Hotels witnessed the maximum growth of 8.71 per cent in the FII exposure, followed by Hotel Leela Ventures (4.8 per cent) and Thomas Cook (2.28 per cent).
As far as the IT companies are concerned, the maximum increase of 9.09 per cent was witnessed by Hexaware Technologies. Other companies like TCS, Patni Computers, I-Flex, Mphasis, and Flextronics saw an increase within the range of 0.3 to 2 per cent. The sector witnessed an average increase of 4.69 per cent.
FII flows stood at $6.36 billion (Rs.27,803.3 crores) in the first seven months of this year, while it was only $3.72 billion (Rs.17,000 crores) during the corresponding period previous year. The increase is less in terms of rupees because the rupee has appreciated 6.53 per cent or Rs.3 since July, 2004, when the rupee stood at Rs.46.52 vis-a-vis dollar.
In fact, FII investments reached $6.34 billion only on November 17 last year. The fact that FIIs take more and more interest in the Indian markets is evident from the new registrations.
“The growing investor interest in Japan, Taiwan, South Korea and the new economic co-operation treaty with Singapore are likely to bring in more new FII registrations”, Mr. Sanghi said.
The average FII exposure in the top 10 hotel and hospitality firms has gone up by 5.01 per cent between December end, 2004 and June end, 2005. Indian Hotels witnessed the maximum growth of 8.71 per cent in the FII exposure, followed by Hotel Leela Ventures (4.8 per cent) and Thomas Cook (2.28 per cent).
As far as the IT companies are concerned, the maximum increase of 9.09 per cent was witnessed by Hexaware Technologies. Other companies like TCS, Patni Computers, I-Flex, Mphasis, and Flextronics saw an increase within the range of 0.3 to 2 per cent. The sector witnessed an average increase of 4.69 per cent.
FII flows stood at $6.36 billion (Rs.27,803.3 crores) in the first seven months of this year, while it was only $3.72 billion (Rs.17,000 crores) during the corresponding period previous year. The increase is less in terms of rupees because the rupee has appreciated 6.53 per cent or Rs.3 since July, 2004, when the rupee stood at Rs.46.52 vis-a-vis dollar.
In fact, FII investments reached $6.34 billion only on November 17 last year. The fact that FIIs take more and more interest in the Indian markets is evident from the new registrations.
“The growing investor interest in Japan, Taiwan, South Korea and the new economic co-operation treaty with Singapore are likely to bring in more new FII registrations”, Mr. Sanghi said.
The Associated Chamber of Commerce & Industry of India
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