FIIs cut stake in PNB during March quarter
Source: IRIS | 18 Apr, 2014, 02.29PM
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 Foreign Institutional Investors (FIIs) have reduced shareholding in Punjab National Bank, one of the leading public sector lenders in India.
FIIs' shareholding decreased to 17.20% at the end of March 2014 quarter from 17.51% as on Dec. 31, 2013.
 On the other hand, domestic institutional investors (DIIs) have raised shareholding in the company to 18.66% at the end of March 2014 quarter from 18.51% as on Dec. 31, 2013.
Under DII, insurance companies held maximum stake of 13.54%, followed by mutual funds / UTI (3.34% stake), financial institutions / banks (1.75% stake) and central government / state government(s) (0.03% stake).
Meanwhile, promoter and promoter group shareholding was unchanged at 58.87% at the end of March 2014 quarter.
Shares of the bank gained Rs 15.35, or 2.01%, to settle at Rs 779.70. The total volume of shares traded was 209,621 at the BSE (Thursday).
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