Religare Ent, Geojit BNP Paribas surge as govt mulls raising FDI limit to 100% in NBFCs

NEW DELHI: Shares of Geojit BNP Paribas, Religare Enterprises surged up to 6 per cent in trade on Tuesday after reports emerged that government may mull increase FDI limit in 18 other NBFC segments to 100 per cent.

One of the proposed segments where the government may raise the limit is commodity broking, an area of expertise for Geojit BNP and Religare Enterprises’ sister concern Religare Capital.

Reacting to the development, Geojit BNP Paribas gained 6 per cent to hit a high of Rs 36.75 while those of Religare Enterprises’ climbed 5.26 per cent to hit Rs 304.90 on the BSE.