According to data compiled by proxy advisory firm Institutional Investor Advisory Services India (IiAS), two resolutions of Mahindra & Mahindra Financial Services (both to appoint joint statutory auditors) were approved with the entire votes cast by institutional investors.
The resolutions to appoint directors proposed by Transpek Industry were approved by shareholders, however, the voting pattern of institutional investors was not immediately available.By Rajesh Kurup
Institutional investors favoured 34 resolutions since November 4, with 18 of them – including that of Mahindra & Mahindra Financial Services – approved with a whopping 100% of votes cast.
According to data compiled by proxy advisory firm Institutional Investor Advisory Services India (IiAS), two resolutions of Mahindra & Mahindra Financial Services (both to appoint joint statutory auditors) were approved with the entire votes cast by institutional investors.
A total of three resolutions of Honda Power India – two related party transactions with Honda Cars India and one seeking shareholders’ approval to provide remuneration to a whole-time director – were voted against by 1% of the institutional investors’ votes.
Other resolutions that were favoured by the institutional investors were Aster DM Healthcare’s resolution (99.7%) to re-appoint an independent director and Housing Development Finance Corporation’s (99.9%) to appoint a joint statutory auditor.
A resolution of Orient Paper & Industries was voted against with 44.2% but got 55.8% of institutional investors’ votes. Despite the dissent, the resolution was approved.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.