Edelweiss Financial, Hinduja Foundries gain on FII limit recast

Hinduja Foundries has rallied 8% to Rs 35.85, while Edelweiss Financial Services gained 5% at Rs 31.70 on the NSE.

Shares in Edelweiss Financial Services and Hinduja Foundries are trading higher by up to 8% on the NSE after the Reserve Bank of India (RBI) hiked the FII limit in these stocks. While Hinduja Foundries has rallied 8% to Rs 35.85, Edelweiss Financial Services gained 5% at Rs 31.70 on the NSE (National Stock Exchange).

The central bank has allowed Edelweiss Financial Services to increase its FII limit to 28% and in Hinduja Foundries up to 60% of the paid-up capital.

As per the BSE data, FIIs held 22.63% shares in Edelweiss Financial Services and 6.34% holding in Hinduja Foundries as of December 31, 2013.