Pantaloon surges; norms for investment in firm eased

MUMBAI Tue Jan 22, 2013 12:44pm IST

A mannequin is on display beside a window as people shop in a clothes shop in New Delhi June 17, 2007. REUTERS/Desmond Boylan/Files

A mannequin is on display beside a window as people shop in a clothes shop in New Delhi June 17, 2007.

Credit: Reuters/Desmond Boylan/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Pantaloon Retail Ltd PART.NS gained as much as 13.8 percent after the RBI eased restrictions on the purchase of shares in the company by foreign institutional investors and by non-resident Indians as well as persons of Indian origin.

The Reserve Bank of India took the measures after the aggregate shareholding held by these categories of investors fell below the threshold limit under the Foreign Direct Investment Scheme, meaning these investors can now buy into Pantaloon shares.

Pantaloon Retail India Ltd PART.NS shares were up 12.82 percent as of 12:44 a.m.

(Reporting by Abhishek Vishnoi and Suvashree Dey Choudhury; Editing by Anand Basu)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Banking Sector

REUTERS SHOWCASE

Regulatory Troubles

Regulatory Troubles

U.S. regulator alleges Dr Reddy's breached packaging rules  Full Article 

Defence Sector

Defence Sector

Indian firms tool up for defence orders on Modi's 'buy India' pledge  Full Article 

Factory Activity

Factory Activity

Economy fears deepen as August HSBC flash PMI at three-month low  Full Article 

Fed Minutes

Fed Minutes

Fed notes labor market progress, but not convinced yet - minutes  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage