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
Trending On Reuters
The Reserve Bank and the finance ministry have agreed, in the biggest change to monetary policy since opening up India's economy more than two decades ago, to introduce inflation targetting to rein in a long history of volatile price rises. Full Article | Factbox
China Feb HSBC PMI at seven-month high but more rate cuts seen on the cards Full Article