Foreign investors can buy up to 49% in Eicher Motors
FIIs/RFPIs can now invest up to 49 per cent of the paid-up capital of Eicher Motors under the Portfolio Investment Scheme, RBI said.
By PTI | Updated:
MUMBAI: The RBI today allowed foreign investors to invest up to 49 per cent of the paid-up capital in Eicher Motors.
Foreign Institutional Investors ( FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49 per cent of the paid-up capital of Eicher Motors under the Portfolio Investment Scheme ( PIS), RBI said in a statement.
"...the company has passed resolutions at its Board and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs," it said.
The purchases can be made through primary market and stock exchanges, it added.
As per data available on BSE, FIIs held 19.47 per cent shares on the company as of quarter ended December 2014.
Shares of Eicher Motors today closed 1.51 per cent lower at Rs 15,811 apiece on BSE.
Foreign Institutional Investors ( FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49 per cent of the paid-up capital of Eicher Motors under the Portfolio Investment Scheme ( PIS), RBI said in a statement.
"...the company has passed resolutions at its Board and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs," it said.
The purchases can be made through primary market and stock exchanges, it added.
As per data available on BSE, FIIs held 19.47 per cent shares on the company as of quarter ended December 2014.
Shares of Eicher Motors today closed 1.51 per cent lower at Rs 15,811 apiece on BSE.
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Neha Pandey Deoras, ET Bureau
Churning one’s stock portfolio does not guarantee better returns. Infact, it comes with added costs and can even result in higher taxes.
Churning one’s stock portfolio does not guarantee better returns. Infact, it comes with added costs and can even result in higher taxes.
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