Uti Pares Stake In Icici To 6.11%

The Unit Trust of India (UTI) has reduced its share holding in ICICI by more than 12 lakh shares from 6.27 per cent to 6.11 per cent during September 2001 to January 2002.

During the same period, Emerging Market Growth Fund Inc increased its holding by 13.82 lakh shares from 1.69 per cent to 1.87 per cent. From December 2001 to January 2002, the fund hiked its stake marginally to 1.87 per cent from 1.76 per cent.

Mutual funds collectively have reduced their holding in ICICI to 0.80 per cent in January 21,2002, down from 1.26 per cent in September 10, 2001.

ICICI's exposure in top five industries has also shown a marginal increase from 44.1 per cent in June 30,2001 to 45 per cent in September 30, 2001.

The institution has increased its exposure to telecom from 3.9 per cent to 4.4 per cent. In absolute terms, the exposure increased to Rs 3,707 crore from Rs 3,253.97 crore.

ICICI has also increased its exposure in crude petroleum and refining but reduced it in chemicals and chemical products, fertlisers and pesticides and cement.

Its exposure -- as a percentage of capital funds-- to its largest single-borrower group in crude petroleum and refining increased from 32.3 per cent in June 30, 2001 to 38.2 per cent in September 30, 2001.

The gross non-performing assets in basic chemicals have risen by 1 per cent in the quarter ended September 30,2001 compared to June 30,2001. In absolute terms it has increased to Rs 482 crore from Rs 395.8 crore.