RBI allows more FII buying in HSIL

Shares of HSIL will remain in focus as the RBI on Wednesday notified that foreign institutional investors and registered foreign portfolio investors can invest up to 40 per cent of the paid-up capital of the company. As of March end, FIIs controlled 11.41 per cent stake in HSIL. Purchases could be made through the primary market as well as stock exchanges and would be subject to FEMA regulations, said RBI. Earlier, shareholders of HSIL approved the proposal to enhance the FII limit.