TeamLease Services spurts as RBI hikes FPI limit

TeamLease Services advanced 4.17% to Rs 2,116.50 at 09:43 IST on BSE after the central bank hiked foreign investment limit in the stock to 75% from 24% earlier.

Meanwhile, the S&P BSE Sensex was down 94.25 points, or 0.28% to 33,222.95. The S&P BSE Mid-Cap index was down 94.76 points or 0.59% to 16,073.09.

On the BSE, 1,432 shares were traded in the counter so far, compared with average daily volumes of 507 shares in the past two weeks. The stock had hit a high of Rs 2,150 and hit a low of Rs 2,070.05 so far during the day. The stock hit a record high of Rs 2,536.80 on 26 December 2017. The stock hit a 52-week low of Rs 855.60 on 3 March 2017.

The mid-cap company has equity capital of Rs 17.10 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) after market hours yesterday, 6 March 2018 notified that the Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in TeamLease Services has increased to 75% from 24% of its paid up capital.

TeamLease Services' consolidated net profit surged 99.78% to Rs 18.40 crore on 12.73% rise in total income to Rs 922.29 crore in Q3 December 2017 over Q3 December 2016.

TeamLease Services is one of India's leading human resource service companies in the organized segment.

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