CCL Products brews a good blend

CCL Products hit an intra day high today at Rs.323, up over 13%. Though it has come off this level, it remains firmly in the green, up over 8% at Rs.308.

The stock is up after RBI withdrew the limits it has placed on  purchase of shares by FIIs/FPIs on the company. RBI hiked foreign investment limit in the company to 40% from 24% under the Portfolio Investment Scheme. As at 30th June 2017, promoter stake in the company was at 44.83% and FIIs held 23.75%