 "Info Edge gains on RBI nod to hike FIIs limit")
Shares of Info Edge (India) were trading higher by 3% at Rs 769 on the BSE after the Reserve Bank of India (RBI) approved hike in investment limit by overseas investors.
Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 50% (revised from earlier limit of 40%) of the paid up capital of Info Edge (India) under the Portfolio Investment Scheme (PIS), RBI said in a notification.
The Reserve Bank has stated that the company has passed resolutions at its board of directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
The purchases could be made through primary market and stock exchanges.
The stock rallied nearly 9% to Rs 810 on the BSE in early morning trade. On the NSE, it touched high of Rs 784 so far.
Till 10:41 AM, a combined 76,627 shares changed hands on the counter on the NSE and BSE.
Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 50% (revised from earlier limit of 40%) of the paid up capital of Info Edge (India) under the Portfolio Investment Scheme (PIS), RBI said in a notification.
The Reserve Bank has stated that the company has passed resolutions at its board of directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
The purchases could be made through primary market and stock exchanges.
The stock rallied nearly 9% to Rs 810 on the BSE in early morning trade. On the NSE, it touched high of Rs 784 so far.
Till 10:41 AM, a combined 76,627 shares changed hands on the counter on the NSE and BSE.