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HindustanTimes Thu,18 Sep 2014

Bharti Airtel gains; RBI allows increase in FII limit

Reuters   July 04, 2014
First Published: 11:37 IST(4/7/2014) | Last Updated: 11:40 IST(4/7/2014)

Shares in Bharti Airtel Ltd gained after the Reserve Bank of India (RBI) increased limit for overseas investors to buy shares in the company.

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Foreign institutional investors can now invest up to 74% in Bharti Airtel under the portfolio investment scheme, the RBI said in a statement late on Thursday.

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

Shares in Bharti were up 1.1% at 10:22am.


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