FII investments in Maruti Suzuki hits ceiling

FIIs will not be allowed to by the company's shares anymore through stock exchanges in India

The Reserve Bank today said that foreign institutional investor (FII) investments in auto major Maruti Suzuki India has crossed the overall limit of 24%.

The banking regulator said no further purchases of share of the company by FIIs will be allowed through stock exchanges in India.

The RBI keeps a tab on the investment ceilings through the portfolio route in Indian companies on a daily basis.

As per December 2012 quarter shareholding, FIIs owned about 23.13% in Maruti.

Shares of the company today closed at Rs 1,449.9, up Rs 10.15, or 0.70%.
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