Petronet LNG gains after RBI nod for investments by FIIs/RFPIs

RBI has now permitted FIIs/RFPIs to invest up to 30% of paid-up equity capital of Petronet LNG

Shares of Petronet LNG were up nearly 3% at Rs 207 on the Bombay Stock Exchange after the Reserve Bank of India in a release on November 03, 2015 notified that Foreign Portfolio Investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs) can now invest up to 30 per cent of the paid up capital of M/s Petronet LNG Limited under the Portfolio Investment Scheme (PIS).

The Reserve Bank has further advised that the foreign shareholding by FIIs/RFPIs in M/s Petronet LNG Limited have gone below the revised threshold limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect, the release added.

The stock opened at Rs 203 and touched a high of Rs 208. At 12:40pm, over 1.8 million shares were traded on both the stock exchanges.