Inox Leisure advances 1% after Foreign investors can buy up to 49% stake

India Infoline News Service | Mumbai | September 21, 2016, 10:43 IST

The Reserve Bank has allowed foreign investors to buy up to 49% stake in Inox Leisure Ltd under the Portfolio Investment Scheme (PIS).

INOX Leisure
Inox Leisure Ltd is currently trading at Rs. 272.5, up by Rs. 2.25 or 0.83% from its previous closing of Rs. 270.25 on the BSE. The Reserve Bank has allowed foreign investors to buy up to 49% stake in Inox Leisure Ltd 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 scrip opened at Rs. 278.9 and has touched a high and low of Rs. 278.9 and Rs. 271.25 respectively. So far 291529 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2606.83 crore.

The BSE group 'B' stock of face value Rs. 10 has 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 is currently trading above its 50 DMA.

***Note: This is a NSE Chart

 

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