TeamLease Services advances 4% on increasing FPI investment limit to 75%

Shares of TeamLease Servicesrose 4.6 percent intraday Thursday on increasing foreign portfolio investment (FPI) limit.

The company received approval from Reserve Bank of India (RBI) for increase in FBI investment limits under portfolio investment scheme from 24 percent to 75 percent of the paid up capital of the company pursuant to board and shareholders approval.

Accordingly, the restrictions placed on the purchase of shares of the company by FPIs are withdrawn with immediate effect.

On March 7, 2018 HDFC Trustee Co. – HDFC Prudence Fund sold 6,00,168 shares of company at Rs 2,150.02 on the NSE.

However, Indus India Fund Mauritius bought 3,71,780 shares at Rs 2,150.04 and Indus India Fund SV bought 1,06,000 shares at Rs 2,150.04.

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At 12:25 hrs TeamLease Services was quoting at Rs 2,197.45, up Rs 46.45, or 2.16 percent on the BSE.

[“Source-moneycontrol”]