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
- U.S. SEC to pay $30 million-plus in largest whistleblower award
- Housing data hits Wall Street; S&P has worst day since August 5 |
- Apple sells more than 10 million new iPhones in first 3 days
- US STOCKS-Housing data hits Wall St; S&P has worst day since Aug 5
- India's Mars mission a step closer to success with engine test
The finance ministry is increasingly optimistic that it can meet a tough fiscal deficit target, helped by a 12 percent decline in global crude oil prices since Prime Minister Narendra Modi took charge in May. Full Article