Bharti Airtel gains, RBI allows increase in FII limit

FIIs can now invest up to 74% in Bharti Airtel under portfolio investment scheme

Shares in Bharti Airtel Ltd gain after the Reserve Bank of India (RBI) increases limit for overseas investors to buy shares in the company.

Foreign institutional investors can now invest up to 74% in Bharti Airtel under the portfolio investment scheme, the RBI said in a statement late on Thursday.

The Reserve Bank of India regularly prevents FIIs from buying shares in companies if they approach the limit stipulated by regulations and will then re-adjust once foreign ownership falls below the prescribed level.

Shares in Bharti are up 1.1% at 10:22 am.