 "RBI restricts NRIs to buy more shares in Asian Hotels (West)")
Foreign shareholding in the company by Non-Resident Indians (NRIs) has breached the limit of 10 per cent of its paid up capital, RBI said in a notification.
"Therefore, no further purchases of shares of this company would be allowed through Stock Exchanges in India on behalf of NRIs," it said.
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RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
Stocks of Asian Hotels (West) closed 6.26 per cent down at Rs 167.70 on BSE today.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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