Reuters Market Eye - Shares of Tata Chemicals Ltd fall 1 percent after the Reserve Bank of India placed a cap on further foreign institutional investments in the company.
The Reserve Bank of India on Friday said share holdings by foreign institutional investors in Tata Chemicals had reached the trigger limit and further purchases of equity shares would be allowed only with the central bank's prior approval.
The RBI regularly prevents foreign institutional investors from buying shares in companies if they are approaching the limit stipulated by regulations and will then re-adjust once foreign ownership falls below the prescribed level.
(Reporting by Abhishek Vishnoi)