IDFC surges 7% as RBI removes FII restrictions
Sep 12 2013
The company had reduced the limit that foreign investors can own in the infrastructure lender to 54 percent from 74 percent without giving a reason in August.
Dealers say the FII investment limit was reduced earlier to comply with RBI's bank licence guidelines as the company has applied for a banking licence
The stock was trading up 4.7 percent at 96.60 rupees at 9:48 a.m. while the broader market was down 0.50 percent