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Shares of Godrej Consumer Products are trading higher by 4% at Rs 1,360 on the Bombay Stock Exchange (BSE) after the Reserve Bank of India (RBI) on Friday said that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can buy up to 40%, revised from earlier 35% of the paid up capital of Godrej under the Portfolio Investment Scheme (PIS).
GSPL passed resolutions at board of directors' level and a special resolution by shareholders, agreeing to enhance the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
The purchases could be made through primary market and stock exchanges, the RBI added.
The stock opened at Rs 1,325 and touched a high of Rs 1,359 on the BSE. A total of 4,385 shares changed hands on the BSE.
