Valecha up on FII interest
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FIIs held 3.49 per cent stake in the company till the December 2007 quarter and have increased their holdings to 5.17 per cent at the end of March 2008 quarter. The total holdings of foreign institutions now stand at 5.84 per cent.
The company is engaged in the power generation, real estate and engineering service business. It posted a 44 per cent fall in net profit during the first nine months of financial year FY08. The total net profit declined from Rs 26.70 crore to Rs 14.93 crore between April and December, 2007.