Shares of GTPL Hathway zoomed over 5 per cent on the Bombay Stock Exchange after the central bank raised foreign investment limit in the company to 49% from 24% earlier.
"The Reserve Bank of India has notified that the Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in M/s GTPL Hathway Ltd. has increased from 24% to 49% of its paid up capital," RBI said in a notification.
Following the statement, shares of the company gained as much as 5.05 per cent to trade at Rs 135.15 apiece on the Bombay Stock Exchange.
In a similar fashion, shares of the company were trading 5.24 per cent higher at Rs 135.50 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 31,689.59, up 26.85 points, or 0.09 per cent, at 12:45 hours.