 "ING Vysya Bank hits new high")
ING Vysya Bank has surged nearly 10% to Rs 746, also its new high, during intra-day trade on the National Stock Exchange (NSE).
The stock opened at Rs 690 and hit a low of Rs 680 on NSE so far. The trading volumes on the counter more than doubled with a combined 515,268 shares changed hands till 1213 hours on NSE and BSE.
Shares of the private sector lender rallied about 20% from Rs 623 on October 29 after the Reserve Bank of India (RBSI) removed curbs on purchase of equity shares of ING Vysya Bank by foreign investors as such investment has gone below the prescribed threshold under FDI policy. The benchmark CNX Nifty gained 2.6% during the same period.
The aggregate share holdings in ING Vysya Bank by Foreign Institutional Investors (FII)/Registered Foreign Portfolios Investors (RFPI)/Non-Resident Indians (NRI)/Persons of Indian Origin (PIO) and through American Depository Receipts (ADR)/Global Depository Receipts (GDRs)/Foreign Direct Investment (FDI) have gone below the prescribed threshold caution limit under the FDI policy, RBI said in a notification.
FIIs held 27.81% shares in the bank as of quarter ended September 30, 2014.
The stock opened at Rs 690 and hit a low of Rs 680 on NSE so far. The trading volumes on the counter more than doubled with a combined 515,268 shares changed hands till 1213 hours on NSE and BSE.
Shares of the private sector lender rallied about 20% from Rs 623 on October 29 after the Reserve Bank of India (RBSI) removed curbs on purchase of equity shares of ING Vysya Bank by foreign investors as such investment has gone below the prescribed threshold under FDI policy. The benchmark CNX Nifty gained 2.6% during the same period.
The aggregate share holdings in ING Vysya Bank by Foreign Institutional Investors (FII)/Registered Foreign Portfolios Investors (RFPI)/Non-Resident Indians (NRI)/Persons of Indian Origin (PIO) and through American Depository Receipts (ADR)/Global Depository Receipts (GDRs)/Foreign Direct Investment (FDI) have gone below the prescribed threshold caution limit under the FDI policy, RBI said in a notification.
FIIs held 27.81% shares in the bank as of quarter ended September 30, 2014.