Maruti Suzuki shares gained as much as 2.2% in the early trade on Tuesday after the RBI notified that registered foreign portfolios investors can now invest up to 40% of the paid up capital of the company. (Reuters)
Maruti Suzuki India shares gained as much as 2.2 per cent in the early trade on Tuesday after the Reserve Bank of India on Monday notified that registered foreign portfolios investors can now invest up to 40 per cent of the paid up capital of the company.
At 9.40 am, the scrip was trading 1.63 per cent higher at Rs 4,397. It opened at Rs 4370 and had touched a high and low of Rs 4,415.70 and Rs 4,370, respectively, in trade so far.
The Reserve Bank of India (RBI) on Monday (post market hours) notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs)/qualified foreign investors (QFIs) can now invest up to 40% of the paid up capital of Maruti Suzuki India under the Portfolio Investment Scheme (PIS). RBI further advised that the foreign shareholding by FIIs/RFPIs in Maruti Suzuki India have gone below the revised threshold limit. Hence, the restrictions placed on the purchase of the company’s shares are withdrawn with immediate effect.
Around 13,000 shares exchanged hands on BSE so far as against average daily volume of 35,000 shares in the past two weeks.
For the quarter ended June 2015, Maruti Suzuki posted net profit of Rs 1192.92 crore, up 56.49 per cent, against Rs 762.28 crore in the corresponding quarter a year ago.
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