Zee Ent shares up over 2% on RBI move

The stock price of Zee Entertainment Enterprises Ltd rose by over 2 per cent after the Reserve Bank said that foreign institutional investors can invest up to 100 per cent of the paid up capital in the company.
Zee's stock closed at Rs 271.05, up 2.13 per cent on the BSE. During the day, the scrip had gained 6.51 per cent to Rs 282.70.
At the NSE, the stock settled 2.28 per cent up at Rs 271.05.
In terms of volume, 5.60 lakh shares of the company changed hands at the BSE, while over 44 lakh shares were traded at the NSE during the day.

An RBI notification had said yesterday that FIIs can now invest up to 100 per cent of the paid up capital in ZEEL. The investment limit was 49 per cent.
"Foreign institutional investors can now invest up to 100 per cent (revised from earlier limit 49 per cent) of the paid up capital of Zee Entertainment Enterprises Limited under the portfolio investment scheme," RBI notification had said.
As on March 2014, promoter shareholding in the company was 43.07 per cent while FIIs held 47.94 per cent shares, as per BSE data.
RBI had said that decision came after the company passed resolutions at its Board of Directors' level and shareholders agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs.