Comments
The Reserve Bank has allowed foreign investors to up their stakes in cable TV distribution company GTPL Hathway and instant coffee manufacturer CCL Products to up to 49 per cent and 40 per cent, respectively.
Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in GTPL Hathway Ltd has increased from 24 per cent to 49 per cent of its paid up capital, Reserve Bank said.
Besides, RBI said foreign investment limit for investment by FIIs/FPIs in CCL Products (India) Ltd has increased from 24 per cent to 40 per cent. CCL Products has passed resolutions to hike such limit and the aggregate shareholding by foreign investors has gone below the prescribed limit, it said. “Hence, the restrictions placed on the purchase of shares of the company (CCL Products) by FIIs/FPIs...are withdrawn with immediate effect,” RBI said.
FIIs, NRIs and PIOs (Persons of Indian Origin) can invest in primary and secondary capital markets in India through PIS.
RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points that are two percentage points lower than the actual ceiling.
Shares of GTPL Hathway closed 4.16 per cent up at Rs 134 and CCL Products rose by 6.32 per cent to Rs 302.65 on BSE today.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.