Bharti Airtel shares gained on Friday after the Reserve Bank of India (RBI) raised FII limit for the company. The foreign institutional investors (FIIs) can now invest upto 74% of the paid up capital of the company under the Portfolio Investment Scheme.
The company has passed resolutions at its board of directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs, the central bank said.
Shares of the company are trading at Rs 339.90, up Rs 2.55, or 0.76% at the Bombay Stock Exchange (BSE) on Friday at 10:39 a.m.
The scrip has touched an intra-day high of Rs 345.20 and low of Rs 339.60. The total volume of shares traded at the BSE is 194,076.