GSFC drops over 4%
By
Research Desk
about 9 years ago
Gujarat State Fertilizers & Chemicals (GSFC) is amongst the top losers on the BSE currently. Opening lower, the stock slipped to the day’s low of Rs.103.35 and is currently at Rs.104.25, down over 4%.
The stock is reacting to RBI’s further FII investment in the stock. The RBI, in its Press Release stated that the foreign shareholding in GSFC had reached trigger limit and therefore further purchases of equity shares of this company would be allowed only after obtaining prior approval.
As at 30th Sept 2014, FIIs held 19.10% stake in the company.