Idea Cellular has moved higher by 5% to Rs 143, extending its previous day’s 1% gain, after the Reserve Bank of India (RBI) announced that foreign institutional investors (FIIs) can purchase up to 49% stake from 24% earlier.
On Friday, the RBI said in release, “FIIs, through primary market and stock exchanges, can now purchase up to 49% of the paid-up capital of Idea Cellular Limited under the Portfolio Investment Scheme (PIS).”
The stock opened at Rs 138 and touched a low of Rs 137 in early morning deals on the BSE. A combined 12.42 million shares changed hands on the counter till 1444 hours on BSE and NSE.
On Friday, the RBI said in release, “FIIs, through primary market and stock exchanges, can now purchase up to 49% of the paid-up capital of Idea Cellular Limited under the Portfolio Investment Scheme (PIS).”
The stock opened at Rs 138 and touched a low of Rs 137 in early morning deals on the BSE. A combined 12.42 million shares changed hands on the counter till 1444 hours on BSE and NSE.