New Delhi: The unit trust of india is reviewing its investment decisions in various companies. in a presentation to jpc, uti has stated that it has earmarked a number of companies where its exposure would be reduced.
The companies include palace heights hotels, sicom and kashipur holdings. in some companies, however, uti has decided not to make further investments like jk pharmachem, idcol cement and pearl ships.
UTI has also short-listed a number of companies where fresh investment is required like abbott laboratories, punjab tractors, fulford india, jagsunpal pharmaceuticals and hpc where it holds between 11 and 15 per cent. giving details to jpc, uti has stated that it will reduce its exposure in palace heights hotels limited from 27.52 per cent constituting of 49.1 lakh shares.
According to the terms of the issue, the promoters will have to buy back the shares three years after the issue i.e in april 2003 so as to ensure annualised rate of return of 20 per cent.
