CMC is trading higher by nearly 2% at Rs 1,579, extending its previous day’s 4% rally, after the company announced that its board of directors has decided to enhance the limit of FIIs shareholding from 24% to 35% of the paid up share capital of the company.
The board of directors of the company at its meeting held on March 06, 2014, has decided, subject to shareholders' approval, to enhance the limit of FIIs shareholding from 24% to 35% of the paid up share capital of the company, CMC a leading IT solutions company and a subsidiary of Tata Consultancy Services (TCS) said in a statement.
The stock opened at Rs 1,573 and touched a high of Rs 1,582 on the BSE. A combined around 10,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
The board of directors of the company at its meeting held on March 06, 2014, has decided, subject to shareholders' approval, to enhance the limit of FIIs shareholding from 24% to 35% of the paid up share capital of the company, CMC a leading IT solutions company and a subsidiary of Tata Consultancy Services (TCS) said in a statement.
The stock opened at Rs 1,573 and touched a high of Rs 1,582 on the BSE. A combined around 10,000 shares changed hands on the counter in early morning deals on the BSE and NSE.