You are here: Home » PTI Stories » National » News
Business Standard

Foreign holding in HDFC Bank hits limit again: RBI

Press Trust of India  |  Mumbai 

again reached the prescribed foreign investment limit for Indian companies, the Reserve said today, just a day after such inflows had gone below the ceiling.

The threshold limit for foreign holding had gone below the prescribed percentage yesterday enabling foreign investors to buy the stock.

"The foreign shareholding by ADR/GDR/FIIs/FPIs/FDI/NRIs/ PIOs in Ltd has crossed the overall limit of 74 per cent of its paid-up capital," RBI said in notification.

Therefore, no further purchases of of this company would be allowed through stock exchanges in on behalf of Foreign institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs)/ Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs), RBI said.

RBI monitors the ceilings on FII/NRI/PIO in Indian companies on a daily basis and has fixed the cut-off points two percentage points below the actual ceiling.

Till the quarter ended December 31, 2016, promoter shareholding in the bank was at 26.09 per cent, as per BSE data.

Bank stock was trading 3.23 per cent up at Rs 1,370.25 on BSE in noon session.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 17 2017. 14:13 IST