 "Stocks of insurance related companies rally on FDI hope")
Shares of companies engaged in insurance business are in limelight and trading higher by up to 8% on BSE on hopes of foreign direct investment (FDI) in the sector.
Max India (up 8% at Rs 402), Bajaj Finserv (up 5% at Rs 1,202), Reliance Capital (4% at Rs 541) and Aditya Birla Nuvo (up 1.5% at Rs 1,795) rallied 1-8% in early trade on BSE today.
According to a Business Standard report, Congress has backed the government on insurance Bill at panel meet. Read report here
The Insurance Laws (Amendment) Bill, 2008, proposes to increase FDI limit in the insurance sector to 49% from the existing 26%.
Max India (up 8% at Rs 402), Bajaj Finserv (up 5% at Rs 1,202), Reliance Capital (4% at Rs 541) and Aditya Birla Nuvo (up 1.5% at Rs 1,795) rallied 1-8% in early trade on BSE today.
According to a Business Standard report, Congress has backed the government on insurance Bill at panel meet. Read report here
The Insurance Laws (Amendment) Bill, 2008, proposes to increase FDI limit in the insurance sector to 49% from the existing 26%.