Mfs Decrease Stake In Engineering Cos In Q3

Mumbai: Mutual funds have decreased their holdings in several engineering companies in the December 2007 quarter on a sequential basis, and that's despite the strong growth hoped from players in this sector in Q3 FY08. Larsen & Toubro had also appreciated 20 per cent during this period on the Street. In the case of foreign institutional investors (FII), there is no definitive trend they have decreased their stake in some engineering companies in Q3 FY08 on a sequential basis, while in others they have increased their stake. Meanwhile, in the case of Siemens, mutual fund holding in this engineering company was 8.05 per cent at the end of the December 2007 quarter, as compared to 8.4 per cent at the end of the September 2007 quarter. Mutual fund holding in Thermax had also fell 100 basis points on a sequential basis to 13.02 per cent at the end of December 2007 quarter.