Foreign Institutions Investors (FIIs) have increased their stake in the Hyderabad-based construction company, NCC Ltd., taking the total holding up from 38.8 per cent in March quarter to 42.27 per cent in June 2011.
Warhol Limited, based out of Port Louis, Mauritius, and private equity player ChrysalisCapital are among FIIs who have increased stake in the Blackstone-backed infra company.
Warhol had late last week increased its stake in the company from 5.66 per cent to 7.68 per cent by acquiring additional shares from the secondary market purchases. The company has seen heightened FII activity in the quarter ended June 2011.
According to filings with the stock exchanges, the promoters hold about 19.60 per cent stake, FIIs 42.27 per cent, DII 13.15 per cent, with other holding 24.98 per cent.
ChrysCapital has increased its stake to nearly 9 per cent in the company, possibly become amongst largest institutional shareholders. Blackstone had acquired 10 per cent stake for about Rs 400 crore.
NCC shares closed the day’s trade up Rs.3.30 at Rs. 57.30. The company 52-week high was Rs.171.80.
The company management has indicated that it expects a 15 per cent growth during financial year 2011-12 resulting in revenues of Rs. 7,200 crore, up from Rs. 6,230 crore in FY 2011