Crompton Greaves rallies over 6% as RBI allows 100% FII investment

NEW DELHI: Crompton Greaves Ltd rallied as much as 6.4 per cent in trade on Friday, after the Reserve Bank of India in a notification said that foreign investors can now invest up to 100 per cent of the paid up capital in the company.

At 09:40 a.m., Crompton Greaves was trading 4.2 per cent higher at Rs 186.10. It hit a low of Rs 184.55 and a high of Rs 189.75 in trade today.

Foreign institutional investors are now allowed to invest up to 100 per cent of the paid up capital in Crompton Greaves, the RBI said in a notification.

"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors ( RFPIs) can now invest up to 100 per cent of the paid up capital of Crompton Greaves Limited under the Portfolio Investment Scheme (PIS)," RBI said in a release.