Fund managers average their holdings amidst mkt volatility

By Varinder Bansal, CNBC-TV18:

The recent market volatility has given chance to fund managers to average their holdings.

Reliance Capital bought 10.3 lakh shares of Unichem Labs at Rs 145 per share on May 16. It also bought 5.50 lakh shares at Rs 192.99 per share on December 18, 2007. It already holds 4.3% of Unichem stake at an average price of Rs 170 per share. Unichem Labs Q4 net profit had dipped 6%.

Reliance Mutual Fund bought 3.73 lakh shares of Kirloskar Pneumatic at Rs 421per share on May 13 that amounts to 2.9% of the company’s stake.

Reliance Capital Diversified Power had bought one lakh shares, i.e. 0.78% stake at Rs 550/share on October 5, 2007. 

Arisaig India Fund bought  2.26 lakh shares at Rs 169.99/share of Mt Everest Mineral water on May 13. They had earlier bought 12.80 lakh shares at Rs 156.47/shares on Apr 2. the average share of Airsaig India in Mt Everest Mineral is about 4.86% at Rs 163 per share.

India Investment bought 12.67 lakh of Asian Electronics shares at Rs 180/share on May 16. and GKK Capital Markets bought 2.9 lakh shares of Rs 200/share of the same company on Apr 4.