By IRIS
16th August 2013 05:18 PM
The Reserve Bank of India (RBI)announced today that foreign share holding by Foreign Institutional Investors (FIIs) in Axis Bank has crossed the overall limit of 49% of its paid-up capital.
Therefore, no further purchases of share of this bank would be allowed through stock exchanges in India on behalf of FIIs.Shares of the company declined Rs 14.45, or 1.35%, to settle at Rs 1,055.40. The total volume of shares traded was 341,008 at the BSE (Friday).
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