Investor Relations

Shareholding Pattern for the quarter ended 31st December 2003

Sr.No	Category	No.of Shares held	Percentage of shareholding
A]	Promoter's Holding
1.	Promotors
	Indian Promoters	13760843	74.86
	Foreign Promoters	0	0.00
2.	Persons acting in concert	0	0.00
	Sub-total	13760843	74.86
B]	Non-Promoters Holding
3.	Institutional Investors
a)	Mutual Funds and UTI	6800	0.04
b)	Banks, Financial Institutions, Insurance Cos. (Central/State Government Institution/ Non- government Institutions)	269997	1.47
c)	FIIs	3100	0.02
	Sub-total	279897	1.53
4.	Others
a)	Private Corporate Bodies	387521	2.11
b)	Indian Public	3450684	18.77
c)	NRIs / OCBs	97718	0.53
d)	Any other
	Independent Directors & their Relatives	7899	0.04
	Other Directors and their Relatives*	3000	0.02
	Trusts	393318	2.14
	Sub-total	4340140	23.61
	GRAND-TOTAL	18380880	100.00
Note 1:	Total Foreign Holdings	100818	0.55
*The Company is a professionally managed company and the shareholding of the Directors in their personal capacity does not constitute "the Promoter's holding". Hence, the same is classified under the head "Any Other".

SR. NO. NAME OF THE HOLDER NO. OF SHARES HELD % OF SHAREHOLDING CATEGORY 1. Tata Sons Limited 13634393 74.18 Indian Promoters 2. Mr. Farrokh K Kavarana 393308 2.14 Trusts (Trustee-Tata Infotech Ltd. Employees' Share Participation Trust) 3. Life Insurance Corporation of India 267924 1.46 Institutional Investors