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August 6, 2001
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Money > Business Headlines > Report August 6, 2001 |
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ICE sectors still form 20% of UTI holdingsSamata Dhawade The Unit Trust of India's investments in the ICE (information, communication and entertainment) sectors at Rs 21.38 billion at the end of June 2001 still account for nearly 20 per cent of the Trust's total equity holdings of Rs 116.22 billion. The ICE exposure is almost halved from 38 per cent at the end of the previous financial year 1999-2000 (July-June). Though the ICE sector exposure still forms the single biggest chunk in UTI's equity portfolio, in absolute terms the exposure has plunged 68 per cent from Rs 71.28 billion as on June 2000. Its total equity investment was at Rs 186.26 billion at the end of June 2000. This analysis is based on UTI's reported equity investments of 67 schemes but excludes the flagship US-64 for which data is not available. UTI had Rs 17.53 billion invested in infotech counters at the end of June 2001, accounting for 15.1 per cent of its total equity investments. A massive decline in share prices has seen the value of its infotech investments plunge from a high of Rs 57.80 billion as at the end of June 2000. Interestingly, Infosys Technologies alone accounts for nearly 70 per cent of UTI's infotech investment of Rs 17.53 billion and 52.8 per cent of its total ICE exposure of Rs 23.12 billion. Thus, Infosys is placed fourth among UTI's top investments at the end of June 2001, after ITC, HLL and Reliance. While UTI has sold a small part of its holdings in Infosys, the major impact has come from the fall in share prices: UTI now holds over 3.2 million shares as against 3.7 million as on June 2000. In June 2000, Infosys Technology had accounted for 43.3 per cent of Rs 71.28 billion ICE investments and 53 per cent of its infotech sector investments of Rs 57.80 billion. The other infotech stocks that ranked among its top holdings were Satyam Computer Services and NIIT. The Trust's holding in Satyam was also marginally lower from 13.6 million shares as on June 2000 to 12.9 million shares as on June 2001. Exposure in NIIT was 3.1 million shares by the end of June 2000, which dipped to 2.9 million shares as on June 2001. Powered by YOU MAY ALSO WANT TO READ:
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