Jubilant FoodWorks has dipped over 3% at Rs 1,225 after the Reserve Bank of India (RBI) barred buying by foreign institutional investors (FIIs) in shares of the company as the foreign shareholding in the company has reached the trigger limit.
"The aggregate net purchases of equity shares in Jubilant FoodWorks Limited by Foreign Institutional Investors (FIIs) in primary/secondary markets under Portfolio Investment Scheme (PIS) have reached the trigger limit.
Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the RBI," the central bank said in a notification.
FIIs, NRIs and PIOs are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS).
The stock opened at Rs 1,256 and touched low of Rs 1,221 on the BSE. A combined around 50,000 shares changed hands on the counter so far on the BSE and NSE.
"The aggregate net purchases of equity shares in Jubilant FoodWorks Limited by Foreign Institutional Investors (FIIs) in primary/secondary markets under Portfolio Investment Scheme (PIS) have reached the trigger limit.
Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the RBI," the central bank said in a notification.
FIIs, NRIs and PIOs are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS).
The stock opened at Rs 1,256 and touched low of Rs 1,221 on the BSE. A combined around 50,000 shares changed hands on the counter so far on the BSE and NSE.
