Ramkrishna Forgings

Ramkrishna Forgings is a marketer of forged and rolled components and it is in the limelight today. The stock price rose by over Rs.20 to Rs.570 and its 52-week high is at Rs.583.15.

The reason – RBI has allowed the company to hike the FII investment limit from current 24% to 74%.

Most obviously, when FII limit is increased, the stock price is bound to go up as it means more buying could come in from FIIs. But then, the FIIs had not really exhausted the 24% limit.

As at 30th June 2017, promoters stake is at 44.35%, mutual funds hold 14.34%, FIIs hold 14.30%, IFC holds 3.2%.