RBI disallows Investment by FIIs/NRIs/PIOs under PIS in Deccan Chronicle Holdings Ltd

The Reserve Bank of India has notified that no further purchases of equity shares of Deccan Chronicle Holdings Ltd., should be made on behalf of Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) through stock exchanges in India without obtaining the prior permission of the Reserve Bank. The Reserve Bank has stated that Deccam Chronicle Holdings Ltd., has reached the limit of 24 per cent of its paid up capital.

The stock was trading at Rs.824, down by 2.04%.

Source : Equity Bulls

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