RBI bans further investment by FIIs under PIS in Indiabulls Real Estate Limited

The Reserve Bank of India has today notified that no further purchases of equity shares of Indiabulls Real Estate Limited should be made on behalf of Foreign Institutional Investors (FIIs) under Portfolio Investment Scheme (PIS) through stock exchanges in India.

The Reserve Bank has stated that Indiabulls Real Estate Limited has reached the limit of 24 per cent of its paid up capital.

The stock closed the day at Rs.294.70, up by Rs.6.75 or 2.34%. The stock hit an intraday high of Rs.301.70 and low of Rs.288.10. The total traded quantity was 1885432 shares compared to 2 week average of 4467887.

Source : Equity Bulls

Keywords