MFAs at 28 June'13, National Nominees held approx 5m shares as...

MF

As at 28 June'13, National Nominees held approx 5m shares as per the GMR website - Investors, Top 20 list - down from 16m previously.

Since then more than 9m shares have been sold and whilst one cannot conclude how many shares National Nominees sold, if any, my guess would be they may have continued as a seller.

GMR usually update their website a week or so after the end of the month so it will be clearer next month.

I guess the quarterly will provide us with an update as to sale of any surplus areas and the cash position; the last update indicated the Company was active in reducing holding & operating costs.