PC Jeweller gains on RBI nod to hike FII limit to 49%

The RBI has approved hike in investment limit by FIIs/FPIs by up to 49%

Shares of PC Jeweller was up nearly 2% at Rs 423 on the Bombay Stock Exchange after the company said that the Reserve Bank of India has approved increase in investment limit by foreign institutional investors/foreign portfolio investors.

The RBI has informed that FIIs and registered FPIs can now invest up to 49% of the paid-up capital of the company under the portfolio investment scheme, the company said in a release.

The stock opened at Rs 428 and touched a high of Rs 433. At 12:25pm, over 180,000 shares were traded on both the stock exchanges.