Fii Ban In Infosys

The Reserve Bank of India yesterday banned further purchases by foreign institutional investors in software firm Infosys Technologies and Carrier Aircon. It said in a statement that foreign holdings in both companies had reached their overall ceiling limits. "The RBI has advised that no further purchase of shares of Infosys Ltd and Carrier Aircon Ltd should be made through stock exchanges in India on behalf of FII investors, Non-Resident Indians or overseas corproate bodies, the statement said. The apex bank said the overall ceiling of permitted foreign institutional investment in equity capital was 24 per cent in the case of Carrier Aircon and 30 per cent in the case of Infosys.