Financial Daily
from THE HINDU group of publications
Tuesday, May 01, 2001
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Financial Daily from THE HINDU group of publications Tuesday, May 01, 2001 |
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Reliance Petroleum: Higher stake
THE hike in the limit for stake by foreign institutional investors by Reliance Petroleum may be a non-event for the present as far as the stock price is concerned. FII holdings in the company are well below this level.
In this backdrop, the move is unlikely to trigger any surge in the stock prices either due to more FII buying or warehousing by brokers in anticipation of such purchases. Even if the group completes selling a part of the stake held by Reliance Industries
in Reliance Petroleum abroad, the FII holding may stay within prescribed levels. The stocks may at best be rangebound around the current level of Rs. 50. -- BL Research Bureau
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