Maruti Suzuki Reaches Its FIIs Limit
Biswajit Yadav / 04 Mar 2014
The Reserve Bank of India notified Maruti Suzuki about its reaching the foreign share holding limit of 22% under portfolio investment scheme (PIS). The stock is trading at Rs 1567.10, down by 0.93% from previous close.
According to Reserve Bank of India (RBI) notification, Maruti Suzuki has reached its foreign shareholding limit of 22% as per the portfolio investment scheme (PIS). For any further investment by foreign institutional investors (FIIs), the company will have to take an approval from the RBI.
Maruti Suzuki on Monday (March 03, 2014) opened at Rs 1587 and closed at Rs 1581.75 on the BSE. Today the stock opened at Rs 1575.50 down by 0.72% from previous open and the stock is currently trading at Rs 1567.10 (11:29 am), down by 0.93% from previous close.
| Companies | Day before notification | Notification day | | |
|---|---|---|---|---|
| | Close price (In Rs) (A) | Open Price (Rs) | Close price (Rs) (B) | Change (%) (B-A) |
| HDFC Bank | 695.2 | 693 | 692.36 | -0.41 |
| Tata Chemicals | 269 | 266 | 267.4 | -0.6 |
| Titan Company | 258.4 | 257 | 249 | -3.78 |
The other companies which recently reached the FII limit are HDFC (December 13, 2013), Tata Chemicals (December 13, 2013) and Titan Company (November 6, 2013).
The stock of HDFC on BSE closed at Rs 695.20 on December 12, 2013 and the next day (December 13, 2013) the stock opened at Rs 693 and on the same day it closed at Rs 692.36 (down by 0.40% from previous close). The stock is currently trading at Rs 661.15 (March 04, 2014).
On December 12, 2013 Tata Chemicals on BSE closed at Rs 269. The next day the stock opened and closed at Rs 266 and Rs 267.40 respectively, down by 0.59% from previous close. The stock is currently trading at Rs 661.15 (March 04, 2014).
The stock of Titan Company, on December 05, 2013, closed at Rs 258.40 and on the next day (December 06, 2013) opened at Rs 257 and closed at Rs 249, down by 3.78% from previous close. The stock is currently trading at Rs 250 (March 04, 2014).
The above mentioned companies remained under pressure after the RBI announced of their reaching the FIIs limit. From the above mentioned performance of these stocks, we can say that Maruti Suzuki will be under pressure today. The company's trailing 12 months (TTM) EPS was at Rs 106.69 per share and the stock's price to earnings (P/E) ratio was Rs 14.75 as per the quarter ended December 2013.
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