Jubilant Foodworks gains; cbank OKs higher FII limit

Apr 16 2014, 12:08 IST
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Jubilant Foodworks had earlier passed resolutions for enhancing the FII purchase limit to 55 percent. (AP) Jubilant Foodworks had earlier passed resolutions for enhancing the FII purchase limit to 55 percent. (AP)
SummaryJubilant Foodworks had earlier passed resolutions for enhancing the FII purchase limit to 55 percent.

Shares in Jubilant Foodworks gain 2.2 percent after the central bank said on Tuesday foreign institutional investors (FIIs) can purchase up to 55 percent of stake in the company, up from the earlier limit of 49 percent.

Jubilant Foodworks had earlier passed resolutions for enhancing the FII purchase limit to 55 percent.

Also, the Reserve Bank removed restrictions on purchase of the shares saying the FII shareholding in Jubilant have gone below the threshold limit.

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