Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Insurance stocks spurt up to 10.5% on FDI buzz

Jun 02 2014, 18:33 IST
Comments 0
Reliance Capital shares rallied 10.41 per cent, while Max India rose by 10.05 per cent on the BSE. Reliance Capital shares rallied 10.41 per cent, while Max India rose by 10.05 per cent on the BSE.
SummaryReliance Capital shares rallied 10.41 per cent, while Max India rose by 10.05 per cent on the BSE.

Shares of companies related to insurance business surged up to 10.5 per cent today following reports that the Finance Ministry is contemplating raising FDI cap in the sector from 26 per cent to 49 per cent with some riders.

Reliance Capital shares rallied 10.41 per cent, while Max India rose by 10.05 per cent on the BSE.

Shares of Bajaj Finserv gained 3.15 per cent, while Religare Enterprises was up 1.97 per cent.

Finance Ministry is contemplating raising FDI cap in insurance sector from 26 per cent to 49 per cent with some riders like restriction on voting right.

"We might increase FDI cap in insurance without commensurate increase in voting rights. We talked with stakeholders and also held high level meeting in ministry," a senior ministry official said.

The official further said that the government may raise the FDI cap in the sector gradually beginning with non-life and health followed by life insurance segment.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...