TeamLease Services surges 17% as RBI raises FPI investment limit

The stock surged 17% to Rs 2,387 in intra-day trade in otherwise weak market after the RBI raised the investment limit for FPIs in the company from 24% to 75%

TeamLease Services surged 17% to Rs 2,387 on the BSE in intra-day trade on Wednesday, in an otherwise weak market after the Reserve Bank of India (RBI) raised the investment limit for foreign portfolio investors (FPIs) in the company to 75% on Tuesday.

Currently, FPIs hold 24.64% stake in TeamLease Services, one of India’s leading human resource service companies in the organized segment.

“The Reserve Bank of India has notified that the Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in TeamLease Services has increased from 24% to 75% of its paid up capital,” the RBI