Maruti Suzuki shares fall after RBI limits FII purchases

Written by Reuters | Mumbai | Updated: Mar 6 2014, 14:56pm hrs
Maruti suzukiMaruti Suzuki shares fall 1.6 per cent after the RBI restricts purchases of shares in the company by foreign investors.
Shares of Maruti Suzuki India fall 1.6 per cent after the Reserve Bank of India (RBI) on Monday restricted purchases of shares in the company by foreign investors.

Shareholding in Maruti Suzuki by foreign institutional investors (FIIs) under the portfolio investment scheme has reached the trigger limit of 22 per cent, and any additional purchases would need prior approval from RBI, the central bank said.

The Reserve Bank of India regularly prevents FIIs from buying shares in companies if they are approaching the limit stipulated by regulations and will then re-adjust once foreign ownership falls below the prescribed level.