Videsh Sanchar Nigam has posted a net profit after tax of Rs 104.16 crores for the quarter ended 30 June 2007 where as the same was at Rs 88.10 crores for the quarter ended 30 June 2006.
The scrip closed at Rs. 454.65, which is 0.62% higher than previous day close, reported at BSE on 30 July 2007.
The rising prices of shares on the stock market will have a positive impact on the NAVs of the various mutual funds. JM Telecom Sector Fund (G) will benefit the most as it has highest exposure to Videsh Sanchar Nigam among the peer groups who have invested into the stocks of the company. The scheme has 6.24% of its portfolio holding in the company with 12972 units as on June 2007.
It is followed by Birla India Opportunities Fund - B (G) (4.11% of its portfolio size), HSBC India Opportunities Fund (G) (4.09%), HSBC Unique Opportunities Fund (G) (2.93%) as on June 2007.
ABN AMRO Tax Advantage Plan (ELSS) (G) was holding 60493 units on 31 May 2007 has sold all its shares as on June 2007 and is thus less likely to benefit. Sahara Infrastructure - Fixed Pricing (G) was holding 7557 units on 31 May 2007 has sold 3561 units as on June 2007 and is thus less likely to benefit.
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