Bharti Airtel gains; RBI allows increase in FII limit

  • Reuters
  • Updated: Jul 04, 2014 11:40 IST

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

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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