Hero MotoCorp gained on Wednesday after the Reserve Bank of India (RBI) has notified that foreign institutional investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of the company under the Portfolio Investment Scheme.
The Reserve Bank 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 the purchase of its equity shares and convertible debentures by FIIs.
Shares of the company gained Rs 45.2, or 1.49%, to trade at Rs 3,080. The total volume of shares traded was 25,212 at the BSE (1.37 p.m., Wednesday).
The scrip has touched an intra-day high of Rs 3,110 and low of Rs 3,056.40. The total volume of shares traded at the BSE is 25,213.