Press Esc to close
Wednesday 29 June 2016
News updated at 7:55 PM IST
Weather
Max: 26.3°C
Min : 20.6°C
In Bengaluru
Rain lightly

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
Fans holds an national soccer team jersey with the name and number of Lionel Messi...

Fans holds an national soccer team jersey with the name and number of Lionel Messi...

Virat Kohli interacts with children at the launch of Stepathlon Kids...

Virat Kohli interacts with children at the launch of Stepathlon Kids...

Pope Francis, left, and retired Pope Benedict XVI embrace during a ceremony...

Pope Francis, left, and retired Pope Benedict XVI embrace during a ceremony...

Horse-mounted Policemen seen at a road in Kolkata...

Horse-mounted Policemen seen at a road in Kolkata...

An egret takes off in New Delhi on Tuesday...

An egret takes off in New Delhi on Tuesday...

A typist attends a customer at a street flooded after heavy rains outside Court complex...

A typist attends a customer at a street flooded after heavy rains outside Court complex...

Muslims prays inside a mosque during the fasting month of Ramadan in Mumbai...

Muslims prays inside a mosque during the fasting month of Ramadan in Mumbai...

Army persons move towards the house where a Hizbul Mujahideen militant was hiding...

Army persons move towards the house where a Hizbul Mujahideen militant was hiding...

Bollywood actor Arjun Kapoor gestures at an awareness campaign for road safety....

Bollywood actor Arjun Kapoor gestures at an awareness campaign for road safety....

Delhi CM and AAP convener Arvind Kejriwal is welcomed by fishermen community...

Delhi CM and AAP convener Arvind Kejriwal is welcomed by fishermen community...

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