The Reserve Bank of India (RBI) has notified that the Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in UltraTech Cement has increased from 30% to 40% of its paid up capital.

UltraTech Cement Limited has passed necessary resolutions of its Board of Directors and General Body as required under the FEMA, 1999 and the regulations framed thereunder.

The increase is subject to regulation 5(2) of Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2017 dated November 07, 2017, as amended from time to time, and the onus of compliance with the limits prescribed for the company is on the company.

Shares of the company declined Rs 16.2, or 0.39%, to trade at  Rs 4,121.10.  The total volume of shares traded  was  22,267 at the BSE (11.20 a.m., Wednesday).