FIIs can now invest more in Gammon Infra

The stock of Gammon Infrastructure Projects will remain in focus on Thursday, as the Reserve Bank of India allowed foreign investment up to 49 per cent in the company. Earlier, the company had received board and shareholders’ approval for enhancing the FII/FPI limit for the purchase of equity shares and convertible debentures. Foreign investors’ stake in the company has come down to 12.85 per cent in March-end from 16.76 per cent in September 2014.