Dr. Senthilverl’s PABC Bank stake tops 10%

High networth individual investor Dr. T. Senthilverl has increased his stake in Pan Asia Banking Corporation Plc., to over 10%.

As at 30 September, 2010, he held 9.6% stake amounting to 14.2 million shares and crossed the 10% mark on Tuesday and now has around 14.75 million shares. PABC share closed at Rs. 58.40, up by 90 cents.

An active player in the market Dr. Senthilverl on Tuesday sold 1.46 million shares of Amana Takaful at Rs. 3.90 per share as well as exited from Lanka Walltile by selling his remaining shares estimated to be 495,200 at Rs. 170 per share.  The share price yesterday closed at Rs. 155.20, down by Rs. 25.30 from Tuesday closing of Rs. 180.50, confirming Dr. Senthilverl’s sale on Tuesday was perfect timing. As at 30 December, 2010, Dr. Senthilverl had around 9% stake amounting to 4.2 million shares.