FIIs reduce stake in Coromandel International in Q4FY14

Foreign institutional investors (FIIs) have reduced their shareholding in Coromandel International to 6.80% at the end of March 2014 quarter from 7.50% as on December 31, 2013. Moreover, domestic institutional investors’ (DIIs) shareholding went down to 5.64% at the end of March 2014 quarter from 6.02% as on December 31, 2013. Meanwhile, promoter and promoter group shareholding remained unchanged at 63.79% at the end of March 2014 quarter. Coromandel International is the country’s second-largest phosphatic fertilizer player. Its crop protection business produces insecticides, fungicides and herbicides and markets these products in India and across the globe. The firm has also ventured into the retail business, setting up more than 640 rural retail centres in Andhra Pradesh and Karnataka.