Havells India gains after raising FII investment limit

Reuters Market Eye - Havells India Ltd's shares gain 4.2 percent after the RBI said the company has raised the limit for purchase of its equity shares and convertible debentures by foreign institutional investors (FIIs) up to 40 percent of its paid-up capital from 24 percent.

The Reserve Bank of India said the hike will be effective April 23.

(Reporting by Abhishek Vishnoi)