Reuters Market Eye - Shares in Jubilant Foodworks Ltd gain 2.2 percent after the Reserve Bank of India said on Tuesday foreign institutional investors (FIIs) can purchase up to 55 percent of stake in the company, up from the earlier limit of 49 percent.
Jubilant Foodworks had earlier passed resolutions for enhancing the FII purchase limit to 55 percent.
Also, the Reserve Bank removed restrictions on purchase of the shares saying the FII shareholding in Jubilant have gone below the threshold limit.
(abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.thomsonreuters.com@reuters.net)