KPIT Technologies witnessed a sharp rise in share prices on Thursday after the Reserve Bank of India has increased the foreign institutional investment limit in the company to 80% from 49%.
RBI has stated that the company has passed resolutions at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for purchase of its equity shares and convertible debentures by FIIs.
Shares of the company are trading at Rs 154.00, up Rs 3.6, or 2.39% at the Bombay Stock Exchange (BSE) on Thursday at 2:19 p.m.
The scrip has touched an intra-day high of Rs 157.00 and low of Rs 150.60. The total volume of shares traded at the BSE is 75,751.