Maruti Suzuki falls; RBI limits FII purchases

Shares of Maruti Suzuki fall 1.6 percent after the Reserve Bank of India on Monday restricted purchases of shares in the company by foreign investors.

Shareholding in Maruti by foreign institutional investors (FIIs) under the portfolio investment scheme has reached the trigger limit of 22 percent, and any additional purchases would need prior approval from RBI, the central bank said.

The Reserve Bank of India regularly prevents FIIs from buying shares in companies if they are approaching the limit stipulated by regulations and will then re-adjust once foreign ownership falls below the prescribed level.

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