Tech Mahindra shares gain; foreign limits raised

Reuters Market Eye - Shares in Tech Mahindra Ltd rise 4.28 percent to hit a 52-week high after the Reserve Bank of India (RBI increased the foreign shareholding limit in the software services provider.

The RBI allowed Tech Mahindra to enhance the limit for equity shares and convertible debt held by foreign institutional investors to 35 percent of the paid up capital of the company, according to a notification late on Monday.

Tech Mahindra shares are up 3.85 percent at 1,428 rupees.

(Reporting by Indulal PM)