BPCL jumps on FII limit increase
By
Research Desk
about 8 years ago
Public sector oil marketing company, BPCL is in the spotlight currently. Moving up 2% intra day to Rs.999, just Rs.33 shy of its 52-week of Rs.1032, the stock, for now, remains firmly in the green.
The stock is up after RBI approved increase in investment limit by foreign institutional investors/foreign portfolio investors.
The RBI stated in its Press Release that FIIs and registered FPIs can now invest upto 49% of the paid-up capital, up from the existing limit of 24%.
As at 31st March 2016, Govt of India held 54.93% stake, FIIs held 0.13% and FPIs held 21.13%.