Jubilant FoodWorks rises as RBI hikes FII limit to 55% - The New Indian Express

Jubilant FoodWorks rises as RBI hikes FII limit to 55%

Published: 16th April 2014 01:19 PM

Last Updated: 16th April 2014 01:19 PM

Jubilant FoodWorks, operator of Dominos pizza stores,gained on Wednesday after Reserve Bank of India (RBI) said that Foreign Institutional Investors (FIIs), through primary market and stock exchanges can now purchase up to 55% of the paid up capital of Jubilant FoodWorks under the Portfolio Investment Scheme (PIS).

Earlier, the company has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 49% to 55% for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs).Shares ofthe companyare trading at Rs 1,037.40, up Rs 7.85, or 0.76% at the Bombay Stock Exchange (BSE) on Wednesday at 12:17 p.m.The scrip has touched an intra-day high of Rs 1,065 and low of Rs 1,033.45. The total volume of shares traded at the BSE is 17,565.In the earlier session, the shares fell 1.03%, or Rs 10.7, at Rs 1,029.55. Currently, the stock is trading down 25.36% from its 52-week high of Rs 1,389.95 and above 11.79% over the 52-week low of Rs 928.

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