Mumbai: stocks of Bharat Petroleum enterprise Ltd received almost 2 according to cent on Thursday after the Reserve bank allowed overseas traders to raise their holdings within the enterprise to as much as 49in line with cent.
The inventory went up via 1.ninety in step with cent to settle at Rs 998.70 on BSE. Intra-day, it rose by means of 2.fifty four according to cent to Rs 1,0.5.
On NSE, it won 1.76 in step with cent to quit at Rs 997.45.
In phrases of extent, 1.35 lakh stocks of the business enterprise have been traded at BSE and more than13 lakh shares changed fingers at NSE at some point of the day.
“foreign Institutional investors (FIIs)/Registered overseas Portfolios investors (RFPIs) can now make investments up to forty nine in step with cent of the paid up capital of BPCL beneath the Portfoliofunding Scheme,” RBI had said in a launch the previous day.
RBI said the decision got here after the employer surpassed resolutions at its Board of directors‘ stageand a special decision by way of the shareholders, agreeing for enhancing the limit for the purchase of its equity stocks through FIIs/RFPIs.
The purchases will be made thru primary market and stock exchanges, it introduced.
As of March 31, 2016, the promoter organization held fifty four.ninety three per cent stake in BPCL, whilstthe public retaining stood at 45.07 in keeping with cent, in step with records available on BSE.
