Financial Stocks Gain on Insurance Bill Hopes

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Mumbai, Mar 12 (PTI) Hopes of increase in insurance FDI today pushed the share prices higher for the companies with interest in the insurance sector, with Max India leading the charts with over 11 per cent gains.

    While the government has promulgated an ordinance to hike FDI in insurance business from 26 per cent to 49 per cent, a bill in this regard is scheduled to be tabled in Rajya Sabha today.

    Financial Stocks Gain on Insurance Bill Hopes

    The bill was passed by the Lok Sabha last week. Among others, Reliance Capital and Aditya Birla Nuvo also saw hectic buying in their stocks.

    Shares of Max India Ltd jumped 11.12 per cent and Reliance Capital was up by 5.82 per cent on the BSE. Among others, Aditya Birla Nuvo Ltd gained 3.36 per cent and Bajaj Finserv was up by 2.37 per cent.

    Meanwhile, in the broader market, the benchmark BSE Sensex was trading with a gain of 214.12 points at 28,873.29. 

    PTI

    Read more about: insurance bill
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
    India's LARGEST EVER political poll. Have you participated yet?

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more