MphasiS BFL: Move of marginal significance - HINDU, Chennai

THE proposal of MphasiS BFL to hike the limit for investment by foreign institutional investors may not be a significant factor in the price formation of the stock in the short term. The price trends may be more influenced by the overall market sentiment for the tech stocks. The existing limit yet to be exhausted. Currently, the limit for FII investments in MphasiS BFL is 24 per cent of its equity of Rs 15.9 crore. Even this limit is yet to be completed availed of by the FIIs. In this context, the move to hike the limit for FIIs may have marginal significance from a price perspective.