Eris Lifesciences may gain as RBI allows hike in FPI investment limit

Shares of Eris Lifesciences will be in focus. The Reserve Bank of India (RBI) notified after market hours yesterday, 22 August 2017, that that foreign institutional investors (FIIs)/foreign portfolios investors (FPIs) investment limit under portfolio investment scheme in Eris Lifesciences has increased from 24% to 49% of its paid up capital. Further, it is notified that the NRI investment limit under portfolio investment scheme in Eris Lifesciences has increased from 10% to 24% of its paid up capital.

Power Grid Corporation of India (PGCIL) said it will seek shareholders' nod for raising borrowing limits to Rs 1.80 lakh crore from Rs 1.50 lakh crore at present. It will also seek shareholders' nod to raise funds upto Rs 20000 crore from domestic market under private placement in up to 20 tranches. The company's shareholders will meet at the annual general meeting on 19 September 2017. The announcement was made after market hours yesterday, 22 August 2017.

Visa Steel announced that movement of raw materials to the company's plant site at Kalinganagar was abruptly suspended by local Truck Owners Union, backed by local politicians for pressing their unreasonable demands. In absence of raw materials, operation at the company's plant site at Kalinganagar have come to grinding halt. The matter was escalated to the Office of the Chief Minister of Odisha. The company expects to resume production at various units soon. The announcement was made after market hours yesterday, 22 August 2017.

Balaji Telefilms' board approved allotment of 2.52 crore equity shares at Rs 164 for a total consideration of Rs 413.28 crore to Reliance Industries on a preferential basis through a private placement. The announcement was made after market hours yesterday, 22 August 2017.

Subros said it raised Rs 50 crore by allotting 500 rated, listed, secured, redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each. The announcement was made after market hours yesterday, 22 August 2017.

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