Fiis, Mfs Kept Off Software In June Quarter

Foreign institutional investors (FII) and mutual funds stayed away from software counters during the quarter ended June 2002.

The shareholding pattern between March 2002 and June 2002 showed that FIIs have increased their stakes in Digital Global Software, Satyam Computer and NIIT, while they were sellers in SSI and Pentafour Technologies.

The FIIs, however, continued to maintain their stakes in software majors such as Infosys Technologies, Wipro, and Hughes Software Systems.

During the April-June quarter, local funds were active in Digital Global Software, Geometric Software Solutions and Rolta India, while they offloaded Trigyn Technologies, SSI and HCL Infosystems.

Digital Global Software was the most preferred stock of the quarter with FIIs increasing their stake in the company by 2.59 per cent (8.50 lakh shares) to 14.15 per cent in June from 11.56 per cent in March.

Local funds also upped their stakes in the company by 2.29 per cent (7.52 lakh shares) to 17.99 per cent.

In the case on Satyam Computer, FIIs increased their stake by 1.25 per cent to 38.92 per cent, while the shareholding of local funds declined by 1.02 per cent to 13.42 per cent.

The FIIs were bullish on the New Delhi-based NIIT and bought 29.50 lakh shares in April-June. Their stake in the company rose to 41.25 per cent in June from 33.59 per cent in March.

The education major