FPI holding in IndusInd bears upper limit

FPI holding in IndusInd bears upper limit

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Analysts say the financials of IndusInd Bank have seen a sharp rebound on account of lower borrowing costs and higher liquidity in the system.

Synopsis

Since November, shares of IndusInd Bank have gained 56 per cent outperforming the 24 per cent rally in the Bank Nifty index, a gauge of banking stocks. The benchmark Nifty gained 15 per cent during the period.

Mumbai: Overseas investors could soon be barred from buying fresh shares of IndusInd Bank as the private lender heads closer to the foreign investment limit. As on Wednesday, foreign portfolio investors (FPIs) held 73.6 per cent in the bank, which is 0.4 per cent below the maximum permissible foreign investment limit. This means these investors can buy up to 34 lakh shares of IndusInd Bank from local investors worth about 310 crore. According to

BY

ET Bureau

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