Ess Dee Aluminium rallies over 9% as RBI raises FII limit

Shares of Ess Dee Aluminium Ltd gained 7.6 per cent, having earlier risen as much as 9.7 per cent, after the Reserve Bank of India on Monday allowed the company to increase foreign investment limit on its shares.

The limit on investments in Ess Dee's equity shares and convertible debt by foreign institutional investors through the primary or secondary markets was raised to 100 per cent, the RBI said.

Non-resident Indians (NRI) and Persons of Indian Origin (PIO) can invest in up to 24 per cent of Ess Dee's paid-up capital, according to the RBI.

At 12:30 pm, the stock was trading at 573.85, up 41.50 points or 7.80 per cent. It hit a high of 584.00 and a low of 536.00 in intraday trade today.