Reserve Bank of India has withdrawn restrictions placed on the purchase of shares of IPCA Laboratories as the FIIs investment limit in the company has gone below the revised threshold caution limit.
In an otherwise subdued market, IPCA Laboratories is trading higher after the RBI removed restrictions on fresh purchases of stocks by the FIIs.
According to media reports, the Reserve Bank of India has withdrawn restrictions placed on the purchase of shares of IPCA Laboratories as the FIIs investment limit in the company has gone below the revised threshold caution limit.
The RBI has further notified that FIIs can now invest up to 35 percent of the paid up capital of IPCA Laboratories.
The stock so far has jumped 3.5 percent to a high at Rs. 676 and is now up 2.9 percent at Rs. 671. The BSE counter has registered trades of around 25,000 shares, as against two-week daily average volume of 16,000 shares.
Meanwhile, the Sensex has tumbled 132 points at 27,825.
According to media reports, the Reserve Bank of India has withdrawn restrictions placed on the purchase of shares of IPCA Laboratories as the FIIs investment limit in the company has gone below the revised threshold caution limit.
The RBI has further notified that FIIs can now invest up to 35 percent of the paid up capital of IPCA Laboratories.
The stock so far has jumped 3.5 percent to a high at Rs. 676 and is now up 2.9 percent at Rs. 671. The BSE counter has registered trades of around 25,000 shares, as against two-week daily average volume of 16,000 shares.
Meanwhile, the Sensex has tumbled 132 points at 27,825.
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