IDFC slumps after foreign investor limit lowered

Reuters Market Eye - Shares in IDFC Ltd fall 8.3 percent after the Reserve Bank of India on Friday decreased the limit that foreign investors can own in the infrastructure lender to 54 percent from 74 percent without giving a reason.

IDFC on Monday advised custodian banks not to make any further purchases of its shares through secondary markets on behalf of their foreign customers or non-resident Indians.

(Reporting by Abhishek Vishnoi)