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:

Economic Pulse

Reuters Showcase

Reaction to Budget

Reaction to Budget

India budget unlikely to impact credit rating - agencies  Full Article 

PMI Data

PMI Data

Factory activity growth slows to five-month low in Feb  Full Article 

Documents Leaked

Documents Leaked

Indian Oil suspends official for leaking information - sources  Full Article 

Ola Buys Rival

Ola Buys Rival

Ola buys rival TaxiForSure for $200 million  Full Article 

Coal Auction

Coal Auction

India examines coal mine bids amid reports of discrepancies  Full Article 

Battling Apple

Battling Apple

Samsung unveils sleek new Galaxy phones  Full Article 

China Economy

China Economy

China Feb HSBC PMI at seven-month high but more rate cuts seen on the cards  Full Article 

Global Economy

Global Economy

Stimulus swells as China eases, India spends   Full Article 

Reuters India Mobile

Reuters India Mobile

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