Yes Bank gains on RBI nod to hike FII limit to 60%

The RBI has approved hike in FII/FPI investment limit to 60% from 49%

Shares of Yes Bank were up nearly 1% at Rs 950 on the Bombay Stock Exchange, in an otherwise weak market, after the Reserve Bank of India 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 60% of the paid-up capital of the company under the portfolio investment scheme from existing 49%, the private lender said in a release.

The stock opened at Rs 949 and touched a high of Rs 958. At 11:15am, over 2 million shares were traded on both the stock exchanges.