BFL, GACL, Satyam hit FII `alert level'

	Financial Daily from THE HINDU group of publications Saturday, March 25, 2000

• AGRI-BUSINESS
• BANKING & FINANCE
• COMMODITIES
• CORPORATE
• FEATURES
• INDUSTRY
• INFO-TECH
• LOGISTICS
• MACRO ECONOMY
• MARKETING
• MARKETS
• NEWS
• OPINION
• INFO-TECH
• CATALYST
• INVESTMENT WORLD
• MONEY & BANKING
• LOGISTICS

• PAGE ONE
• INDEX
• HOME

Corporate | Prev

BFL, GACL, Satyam hit FII `alert level'

Our Bureau

MUMBAI, March 24

THE Reserve Bank of India on Friday notified that no further purchases of shares of BFL Software Ltd, Gujarat Ambuja Cements Ltd and Satyam Computers Services Ltd should be made on behalf of foreign institutional investors (FIIs) without obtaining prior clearance of RBI.

The holdings by FIIs in BFL Software Ltd has reached the alert level of 22 per cent of its paid-up capital and those in Gujarat Ambuja Cements Ltd and Satyam Computers Services Ltd to 28 per cent.

The RBI has withdrawn restriction placed on purchase of shares of Penta Media Graphics Ltd following the percentage of FII investments to the paid-up capital going below the alert level of 28 per cent.