News: RBI raises foreign fund limits in cos

(RTR 22/04/2006) Mumbai - The Reserve Bank of India on Friday approved raising the investment ceiling for foreign portfolio investors in Wockhardt Ltd, Vimta Labs Ltd and Rico Auto Industries Ltd. In Wockhardt and Vimta, foreign funds can now buy up to 49 per cent.In Rico, the limit is now 40 per cent.

Foreign portfolio investors currently hold a 20.06-per cent stake in Vimta, 4.85 per cent in Wockhardt and 22.05 per cent in Rico.