 "Container Corporation gains as RBI raises FII limit")
Shares of Container Corporation of India were trading higher by 5% at Rs 1,562 on NSE in early morning deals after the Reserve Bank of India (RBI) has allowed foreign institutional investors (FIIs) to invest up to 34% of the paid-up capital in the company engaged in transport related services business.
"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 34% of the paid up capital of Container Corporation of India Ltd under the Portfolio Investment Scheme (PIS)," RBI said in a notification on 5 March 2015 after market hours.
RBI further advised that the foreign shareholding by FIIs/RFPIs in Container Corporation of India Ltd. has gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect, it added.
The stock opened at Rs 1,500 and touched a high of Rs 1,588 on NSE. A combined 74,060 shares have changed hands on the counter till 0924 hours on NSE and BSE.
"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 34% of the paid up capital of Container Corporation of India Ltd under the Portfolio Investment Scheme (PIS)," RBI said in a notification on 5 March 2015 after market hours.
RBI further advised that the foreign shareholding by FIIs/RFPIs in Container Corporation of India Ltd. has gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect, it added.
The stock opened at Rs 1,500 and touched a high of Rs 1,588 on NSE. A combined 74,060 shares have changed hands on the counter till 0924 hours on NSE and BSE.