Sequent Scientific gains on hike in FII limit

The stock rose 4% at Rs 562 after the RBI said that foreign investors can now invest up to 32.46% of the paid-up capital of the pharmaceutical company.

Shares of Sequent Scientific were trading higher by 4% at Rs 562 on the BSE in early morning trade after the Reserve Bank of India (RBI) said that foreign investors can now invest up to 32.46% of the paid up capital of the pharmaceutical company.

“Foreign Institutional Investors (FIIs) or Foreign Portfolios Investors (FPIs) can now invest up to 32.46% cent of the paid-up capital of Sequent Scientific Limited under the Portfolio Investment Scheme (PIS)”, RBI said in a circular.

The stock opened at Rs 568 and hit a high of Rs 570 on the BSE so far.