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Shares of Sunteck Realty gained 2.6 percent intraday Tuesday as company approved a proposal for increasing its investment limits by RFPIs.
The company board approved a proposal for an increase in the investment limits by registered foreign portfolio investors (RFPIs) including foreign institutional investors (FIIs) from the existing 24 percent to 49 percent of the paid up equity share capital of the company.
This is subject to the approval of the shareholders and other statutory approvals, if any.
The increase will make available more limits for the RFPIs/ FIIs to invest in the equity share capital of the company.
At 10:47 hrs Sunteck Realty was quoting at Rs 388.05, up Rs 6.60, or 1.73 percent on the BSE.
Posted by Rakesh Patil
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