dkishore
29-07-2008, 08:46 AM
AN insurance company that claims to be ‘new’ , has been accumulating shares of Modern India in large quantities. If market sources are to be believed, the insurance company has bought over 4 lakh shares in the Mumbai-based firm. Modern India has diverse interests ranging from real estate, textiles, gems and jewellery to education.
Promoters own over 86% stake in the company. According to a highly-placed company official, the insurance company is helping promoters reduce their shareholding to 75%.
Promoters own over 86% stake in the company. According to a highly-placed company official, the insurance company is helping promoters reduce their shareholding to 75%.