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The promoters of Rolta India have gained majority control in the company by hiking their stake to over 50 per cent.
The stock gained 1.4 per cent at Rs 71.70 on the BSE.
A disclosure to the BSE revealed that the promoters have increased their stake from 40 per cent to over 50 per cent in the company over the last three years through creeping acquisitions.
The stock has moved in the range of Rs 50 and Rs 190 during the last three years.
The company has seen foreign institutional investor holding decline steadily. From 32.35 per cent in September 2010, FIIs’ holdings declined to 19.69 per cent at the end of the September quarter.
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