Ess Dee Aluminium shares gain; RBI lifts FII limit

Reuters Market Eye - Shares of Ess Dee Aluminium gain 7.6 percent, having earlier risen as much as 9.7 percent, after the central bank on Monday allowed the company to increase foreign investment limit on its shares.

The limit on investments in Ess Dee's equity shares and convertible debt by foreign institutional investors through the primary or secondary markets was raised to 100 percent, the RBI said.

Non-resident Indians (NRI) and Persons of Indian Origin (PIO) can invest in up to 24 percent of Ess Dee's paid-up capital, according to the RBI.

(Reporting by Indulal P)