Bharti Airtel gains; RBI allows increase in FII limit

Reuters Market Eye - Shares in Bharti Airtel Ltd gain after the Reserve Bank of India (RBI) increases limit for overseas investors to buy shares in the company.

Foreign institutional investors can now invest up to 74 percent in Bharti Airtel under the portfolio investment scheme, the RBI said in a statement late on Thursday.

The Reserve Bank of India regularly prevents FIIs from buying shares in companies if they approach the limit stipulated by regulations and will then re-adjust once foreign ownership falls below the prescribed level.

Shares in Bharti Airtel are up nearly 1 percent to 340.30 rupees at 2:01 p.m.

 

(Reporting by Indulal PM)