/ South Indian Bank Gains As RBI Withdraws FPI Investment Limits ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 7 March 2017

South Indian Bank is soaring on bourses on a lacklustre day and is up by more than 2% in the early hours of the trade. The Reserve Bank of India, via a notification on Monday stated that the central bank has withdrawn the restrictions placed on the purchase of shares of South Indian Bank by foreign portfolio investors.

The withdrawal will be with immediate effect. Previously the restrictions were imposed on September as the foreign shareholding in the bank fell below the prescribed limit.

On Monday, the South Indian Bank ended down 0.3% at Rs 20.2 per share on NSE. Major indices are seen trading volatile on Tuesday with Sensex and Nifty both opening mildly in green.

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