Shares of Godrej Consumer Products today ended over 2 per cent higher after the Reserve Bank said foreign investors can buy up to 40 per cent of the paid-up capital in GCPL under the portfolio investment scheme (PIS).
After surging 4.17 per cent to Rs 1,360 intra-day, shares of the company finally ended at Rs 1,335, up 2.26 per cent on BSE.
At the NSE, the stock settled with a gain of 1.9 per cent at Rs 1,332.35.
Foreign Institutional Investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs) can now invest up to 40 per cent, revised from earlier 35 per cent, of the paid-up capital of Godrej Consumer Products Limited under PIS, the Reserve Bank had said on Friday.
GCPL had passed resolutions earlier agreeing to enhance 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, RBI said.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
