Shares in Jubilant Foodworks Ltd gained 2.2 per cent after the Reserve Bank of India said on Tuesday foreign institutional investors (FIIs) can purchase up to 55 per cent of stake in the company, up from the earlier limit of 49 per cent.
Jubilant Foodworks had earlier passed resolutions for enhancing the FII purchase limit to 55 per cent.
Also, the Reserve Bank removed restrictions on purchase of the shares saying the FII shareholding in Jubilant have gone below the threshold limit.
Copyright: Thomson Reuters 2014
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