IDFC shares fall on profit-taking, cut in FII limit

Written by Reuters | Mumbai | Updated: Jul 17 2014, 17:08pm hrs
Shares of IDFC Ltd fall 3.2 percent on profit-taking, after the Indian infrastructure lender rallied 8.8 percent in the previous session. Also hurting shares was a statement by the Reserve Bank of India late Wednesday that the company had agreed to cut its overseas investment limit.

RBI said IDFC agreed to cut the limit for purchase of its equity shares by FIIs up to 50.50 percent of the paid-up capital from 51.50 percent.

IDFC rallied on Wednesday after the central bank eased infrastructure bond sale rules.

Shares were also pressured by the stock going ex-dividend on Thursday, with the company earlier paying 2.60 rupees dividend per share.

IDFC shares were down 3.1 percent to 158.2 rupees at 0404 GMT.