Shares of Glenmark Pharma today gained 2 per cent after the central bank has raised the FII investment limit.
The Reserve Bank of India had said that the FII limit in Glenmark Pharma has been increased to 49 per cent from 40 per cent.
RBI regularly prevents FIIs from buying shares in companies if they approach the limit stipulated by regulations and then re-adjusts once the foreign ownership falls below the prescribed level.