Press Esc to close
Saturday 18 April 2015
News updated at 2:10 PM IST
Weather
Max: 33.4°C
Min : 21.6°C
In Bengaluru
Sunny day

IDFC surges 7 percent as RBI removes FII restrictions

Sep 12, 2013, Reuters Market Eye -
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
Taragarh Fort overlooking the city on the eve of World Heritage Day...

Taragarh Fort overlooking the city on the eve of World Heritage Day...

Narmada Bachao Andolan activists during their 'Jal Satyagrah' in Khandwa...

Narmada Bachao Andolan activists during their 'Jal Satyagrah' in Khandwa...

Teena Ponnappa poses at the “Crafts Glory” an exhibition cum sale of Handicrafts and Handlooms...

Teena Ponnappa poses at the “Crafts Glory” an exhibition cum sale of Handicrafts and Handlooms...

Aishwarya Rai and Malayalam actress Manju Warrier at the inauguration of a jewellery shop in Chennai

Aishwarya Rai and Malayalam actress Manju Warrier at the inauguration of a jewellery shop in Chennai

Sachin Tendulkar during the IPL T20 match between Mumbai Indians and Chennai Super Kings in Mumbai..

Sachin Tendulkar during the IPL T20 match between Mumbai Indians and Chennai Super Kings in Mumbai..

Sahara Force India Mexican driver Sergio Perez steers his car during a practice session...

Sahara Force India Mexican driver Sergio Perez steers his car during a practice session...

A heap of wheat getting damaged with rain water in Hisar on Friday...

A heap of wheat getting damaged with rain water in Hisar on Friday...

Tigers at the Ranthambore National Park in Sawai Madhopur, India...

Tigers at the Ranthambore National Park in Sawai Madhopur, India...

Civic workers sweep at a lawn near India Gate in New Delhi on Friday...

Civic workers sweep at a lawn near India Gate in New Delhi on Friday...

Policemen fire teargas shells towards protesters during an agitation against the arrest...

Policemen fire teargas shells towards protesters during an agitation against the arrest...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523