Press Esc to close

IDFC surges 7 percent as RBI removes FII restrictions

Sep 12, 2013, Reuters Market Eye - 11:29 IST
Stock brokers engage in trading at a brokerage firm in Mumbai February 14, 2008.  Credit: Reuters
Shares in IDFC(IDFC.NS) surge as much as 7 percent after the Reserve Bank of India on Wednesday lifted restrictions placed on foreign investors purchasing shares of the company as their shareholding in IDFC fell below the prescribed limit.

The company had reduced the limit that foreign investors can own in the infrastructure lender to 54 percent from 74 percent without giving a reason in August.

Dealers say the FII investment limit was reduced earlier to comply with RBI's bank licence guidelines as the company has applied for a banking licence

The stock was trading up 4.7 percent at 96.60 rupees at 9:48 a.m. while the broader market was down 0.50 percent

Go to Top

Photo Gallery
Actress and BJP MP Hema Malini along with her daughters Ahana and Esha cutting a cake to celebrate..

Actress and BJP MP Hema Malini along with her daughters Ahana and Esha cutting a cake to celebrate..

Union Minister for Defence, Nirmala Sitharaman with Chief of Naval Staff, Admiral Sunil Lanba and ..

Union Minister for Defence, Nirmala Sitharaman with Chief of Naval Staff, Admiral Sunil Lanba and ..

Kamaraj Congress (KKC) and Most Backward Communities Federation demonstrators lying on the road in..

Kamaraj Congress (KKC) and Most Backward Communities Federation demonstrators lying on the road in..

Rajesh Talwar arrives at his residence in Noida on Monday after he, along with his wife Nupur, was..

Rajesh Talwar arrives at his residence in Noida on Monday after he, along with his wife Nupur, was..

Social activists sit near earthen lamps, lit in a formation that reads 'No Crackers', to urge ...

Social activists sit near earthen lamps, lit in a formation that reads 'No Crackers', to urge ...

Dentist-couple Nupur and Rajesh Talwar coming out of the Dasna Jail in Ghaziabad on Monday after ...

Dentist-couple Nupur and Rajesh Talwar coming out of the Dasna Jail in Ghaziabad on Monday after ...

Widows celebrating Diwali at Gopinath Temple in Vrindavan near Mathura on Monday...

Widows celebrating Diwali at Gopinath Temple in Vrindavan near Mathura on Monday...

Widows attending the marriage ceremony of a young widow at Gopinath Temple in Vrindavan near ...

Widows attending the marriage ceremony of a young widow at Gopinath Temple in Vrindavan near ...

Bollywood actress Vaani Kapoor presents a creation during a fashion event in New Delhi on Saturday..

Bollywood actress Vaani Kapoor presents a creation during a fashion event in New Delhi on Saturday..

Newly elected Allahabad University Students Union President Avanish Kumar Yadav (center) along..

Newly elected Allahabad University Students Union President Avanish Kumar Yadav (center) along..

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.