FIIs/RFPIs can now invest up to 49% under PIS in Inox Leisure: RBI

India Infoline News Service | Mumbai | September 20, 201617:19 IST

The Reserve Bank has stated that the company has passed resolution at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs.

INOX Leisure
The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24% up to 49% of the paid up capital of Inox Leisure under the Portfolio Investment Scheme (PIS).

The Reserve Bank has stated that the company has passed resolution at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

The Reserve Bank has notified this under FEMA 1999.

Stock view:

Inox Leisure Ltd ended at Rs. 270.25, up by Rs. 0.3 or 0.11% from its previous closing of Rs. 269.95 on the BSE.

The scrip opened at Rs. 271.9 and touched a high and low of Rs. 275.7 and Rs. 268 respectively. A total of 161500(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2603.94 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 292.9 on 02-Sep-2016 and a 52 week low of Rs. 170 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 285 and Rs. 267.45 respectively.

The promoters holding in the company stood at 48.7 % while Institutions and Non-Institutions held 30.69 % and 20.3 % respectively.

The stock traded above its 50 DMA.

***Note: This is a NSE Chart

 

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