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
- Pakistani family sentenced to death over "honour killing" outside court
- Alumnus dead after opening fire at Florida State University, wounding 3 |
- Mike Nichols, award-winning American director, dies at 83
- UPDATE 2-Doctor who treated source of second Mali Ebola outbreak dies
- Mike Nichols, award-winning American director, dies at 83 |
Kotak Mahindra Bank has agreed to buy ING Vysya in an all-share deal valuing its smaller rival at $2.4 billion, bulking up as analysts predict the start of long-awaited consolidation in a crowded banking sector. Full Article
U.S. court overturns bid by Ranbaxy to block launch of rival generic drugs. Full Article
Tech Mahindra to buy U.S.-based network services operator for $240 million Full Article
Infosys unit's overbilling Apple led to exit of top execs - sources. Full Article