Tech Mahindra gains; RBI allows hike in FII limit

Reuters Market Eye - Shares of Tech Mahindra rise as much as 1.65 percent after the central bank on Thursday allowed the company to increase the foreign investment limit to up to 48 percent of its paid-up capital from 45 percent.

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.

Tech Mahindra shares up 0.6 percent at 10:52 a.m.

(Reporting by Indulal P)