 "Natco Pharma gains on RBI approval to hike FIIs limit")
Natco Pharma was up 2% at Rs 2,299 on the BSE in early morning trade in otherwise subdued market after the Reserve Bank of India (RBI) approved hike in investment limit by overseas investors.
The RBI on Friday, September 4, 2015 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 31.50% of the paid up capital of M/s Natco Pharma under the Portfolio Investment Scheme (PIS).
The RBI on Friday, September 4, 2015 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 31.50% of the paid up capital of M/s Natco Pharma under the Portfolio Investment Scheme (PIS).
The purchases could be made through primary market and stock exchanges, it added.
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.
At 09:23 AM, the stock was up 1% at Rs 2,277 on the BSE. A combined 10,125 shares changed hands on the counter on the BSE and NSE.
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.
At 09:23 AM, the stock was up 1% at Rs 2,277 on the BSE. A combined 10,125 shares changed hands on the counter on the BSE and NSE.