Idea Cellular shares gain; RBI allows FII limit hike

Shares of Idea Cellular Ltd gain after the Reserve Bank of India allowed an increase in the foreign institutional investment limit for the company.

Foreign institutional investors, through primary market and stock exchanges, can now purchase up to 49 percent of the paid-up capital of Idea Cellular compared with the current 24 percent, the central bank said in a statement on Friday.

Idea Cellular shares up 1.6 percent to 137.40 rupees at 9:47 a.m.

EDITORIAL OF THE DAY

  • Allow 100 per cent FDI in asset reconstruction companies

    The asset reconstruction business is 13 years old and still struggling like a toddler.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Rajgopal Nidamboor

From complexity to prudent adaptability

It is a travesty that a host of new, strikingly ...

Dharmendra Khandal

Creepy, you say? That’s merely ophidiphobia

Snakes are the earliest predators in the life of the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture