Carborundum up 3% as RBI allows FIIs to buy shares of company

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26 Aug, 2025 12:21

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Moneycontrol BureauShare prices Carborundum Universal gained 3 percent intraday as Reserve Bank of India (RBI) has allowed foreign investors to pump money in the company. In a notification the central bank said foreign institutional investors (FIIs) can now purchase equity shares of the company through primary market and stock exchanges."The Reserve Bank of India has notified that the aggregate share holdings in Carborundum Universal by FIIs/registered foreign portfolios investors (RFPIs) have gone below the prescribed threshold caution limit stipulated under the extant FDI policy. Hence, the restrictions placed on the purchase of shares of the company are withdrawn with immediate effect," RBI said.As per data available on BSE, the promoter group held 43.84 percent in the company and the public shareholding stood at 56.16 percent, as of December 2015.Carborundum Universal is into manufacturing, supplying and exporting of abrasives, super abrasives, industrial ceramics, super refractories and electrominerals. It also offers material handling equipment.At 09:46 hrs Carborundum Universal was quoting at Rs 222, up Rs 2.45, or 1.12 percent on the BSE.Posted by Rakesh Patil