Pantaloon surges; norms for investment in firm eased
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)
- Tweet this
- Share this
- Digg this
- UPDATE 2-Obamacare agency relies on manual back-ups as enrollment rises
- UPDATE 2-Pilots of Asiana crash knew speed was low -documents
- China bitcoin arbitrage ends as traders work around capital controls
- Supreme Court turns the clock back with gay sex ban
- Uruguay's move to legalise marijuana breaks international treaty-INCB
The Supreme Court reinstated a ban on gay sex in the world's largest democracy, following a four-year period of decriminalisation that had helped bring homosexuality into the open in the socially conservative country. Full Article