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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (1258)	3/18/2000 2:53:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

FIIs allowed to invest in Indian companies up to 40 per cent Mumbai, March 18: Foreign Institutional Investors (FIIs) are now permitted to investment in Indian companies up to 40 per cent of the issued and paid up capital, under Portfolio Investment Scheme (PIS), Reserve Bank of India (RBI) said in a statement. The permission to enhance the FIIs investment up to 40 per cent, is subject to the approval by the board of directors of the companies and a special resolution passed by the general body of the companies in this regard, said RBI. The companies, which have already enhanced the aggregate ceiling from the normal level of 24 per cent to 30 per cent of its issued and paid up capital, also permitted to enhance the FII investment up to 40 per cent. The enhancement of the aggregate ceiling for FIIs investment in Indian companies under the PIS, from the normal level of 24 per cent to 40 per cent was announced in the budget and the government had notified it on March 1, 2000, added RBI. -India Today