Maruti up over 3 pct; foreign investment caps removed

Reuters Market Eye - Shares in Maruti Suzuki gain as much as 4.6 percent after the RBI removes restrictions on shareholdings from foreign institutional investors.

The stock was trading 3.7 percent higher as of 2:50 p.m.

The removal of the cap comes after foreign shareholdings fell below the "prescribed threshold limit" stipulated by India's foreign direct investment rules.

Maruti Suzuki's foreign ownership stood at 78.24 percent as of June 30, including Suzuki Motor Corp's <7269.T> stake, according to stock exchange data.