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Shares of Titan Industries today rose as much as 4.3 per cent as th e Reserve Bank of India has said that FIIs can invest up to 35 per cent.
The stock has hit one-week intra-day high.
The central bank said that since foreign institutional investors shareholding in Titan has fallen below the revised threshold limit, FIIs can invest up to 35 per cent of the paid up capital of the company.
RBI regularly prevents FIIs from buying shares in companies if they approach the limit stipulated by regulations and then re-adjusts once foreign ownership falls below the prescribed level.
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