 "RBI restricts NRIs to buy more shares in Asian Hotels (West)")
Foreign shareholding in the company by Non-Resident Indians (NRIs) has breached the limit of 10 per cent of its paid up capital, RBI said in a notification.
"Therefore, no further purchases of shares of this company would be allowed through Stock Exchanges in India on behalf of NRIs," it said.
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FIIs, NRIs and PIOs (Persons of Indian Origin) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme (PIS).
RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
Stocks of Asian Hotels (West) closed 6.26 per cent down at Rs 167.70 on BSE today.
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