Kotak Emerging Equity Increases its position in Page Industries Ltd March 2020 Quarter

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Page Industries Ltd. is an exclusive licensee of JOCKEY International Inc. (USA) for manufacturing, distributing and marketing of JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal and UAE. The total public shareholding pattern of Page Industries Ltd. is identical at 51.68% in both, December 2019 quarter and March 2019 quarter. Though, the no. of public shareholders increased from 68,195 to 70,378. The public shareholding pattern from December 2019 quarter to March 2020 showed various trends, such as:

Increase in public shareholding – Kotak Emerging Equity Scheme increased from 1.00% to 1.61%. Alternate Mutual Funds rose from 0.62% to 0.70%. Financial Institutions/ Banks showed a slight step up from 0.05% to 0.06%. Insurance Companies expanded to 0.89% from 0.70%. The no. of shareholders with Individual share capital up to Rs. 2 Lacs went up from 61932 to 63253 with increase in shareholding from 8.65% to 9.04%. Non-Resident Indian (NRI) holdings grew from 0.65% to 0.77%. Clearing Members witnessed a fall in no. of shareholders from 91 to 76, but an increase of 0.01% in the shares i.e. from 0.16% to 0.17%.

Decrease in public shareholding – Steadview Capital Mauritius Limited jumped down to 3.21% from 4.57%. Fidelity Investment Trust – Fidelity Emerging markets Fund reduced to 1.02% from1.13%. HUF slipped a bit from 0.32% to 0.31%.

Uniformity (Stability) in public shareholding – Nalanda India Fund Limited (7.56%), St. James’s Place Emerging Markets Equity Unit Trust Managed By Wasatch Advisors Inc (1.07%), Central Government/ State Government(s)/ President of India (0.28%), Individual share capital in excess of Rs. 2 Lacs (0.22%), NBFCs registered with RBI (00.0%), IEPF (00.0%), Trusts (0.45%), and Bodies Corporate (1.25%) remained at the same level.

Entries and Exits in public shareholding – Arisaig Asia Consumer Fund Limited entered with a holding of 1.26% in March 2020. SBI Focused Equity Fund entered or might have rose above 1.00% to appear with 3.21% in March 2020. Mirae Asset Emerging Bluechip Fund disappears in the March pattern while it held 2.33% of shares in December 2019. Reliance Capital Trustee Co Ltd-A/C Nippon India Focused Equity Fund had 1.03% in December 2019 and completely exited or went below 1.00% in March 2020.

The comparison shows that a few of the shareholders’ shares decreased while that of some increased as well as stayed at the level. The shareholdings of the new entries can be compared in the upcoming quarters.

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