Prestige Estates dips 2.2%; Foreign investors can invest up to 49% under PIS

The RBI has notified that foreign institutional investors and registered foreign portfolio investors can now invest up to 49 per cent of the paid-up capital of Prestige Estates Projects under the portfolio investment scheme, following their holding slipping below the threshold.

Prestige Estates Projects has slipped 2.2% at Rs. 193 on BSE. The RBI has notified that foreign institutional investors and registered foreign portfolio investors can now invest up to 49 per cent of the paid-up capital of Prestige Estates Projects under the portfolio investment scheme, following their holding slipping below the threshold.

The scrip opened at Rs. 200 and has touched a high and low of Rs. 200.65 and Rs. 191.25 respectively. So far 172310(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7387.5 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 323.7 on 29-Jan-2015 and a 52 week low of Rs. 181 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 207.1 and Rs. 194.8 respectively.

The promoters holding in the company stood at 70 % while Institutions and Non-Institutions held 25.66 % and 4.34 % respectively.

The stock is currently trading above its 200 DMA.