Tech Mahindra gains; RBI allows hike in FII limit

Shares of Tech Mahindra rise as much as 1.65% after the central bank on Thursday allowed the company to increase the foreign investment limit to up to 48 % of its paid-up capital from 45%.

Shares of Tech Mahindra rise as much as 1.65% after the central bank on Thursday allowed the company to increase the foreign investment limit to up to 48 % of its paid-up capital from 45%.

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.

Tech Mahindra shares up 0.6 % at 10:52 a.m.