 "Max India, Reliance Capital gain as Cabinet approves Insurance Bill")
Shares of companies engaged in insurance business have moved higher by up to 4% after the Union Cabinet clears the Insurance Laws Amendment Bill.
Max India (up 4.4% at Rs 397), Reliance Capital (3.5% at Rs 496), Exide Industries (3% at Rs 174), Aditya Birla Nuvo (1.4% at Rs 1,675) and Bajaj Finserv (1% at Rs 1,324) are up 1-4% on BSE.
The Insurance Laws (Amendment) Bill, 2008, proposes to increase foreign direct investment (FDI) limit in the insurance sector to 49% from the existing 26%.
Max India (up 4.4% at Rs 397), Reliance Capital (3.5% at Rs 496), Exide Industries (3% at Rs 174), Aditya Birla Nuvo (1.4% at Rs 1,675) and Bajaj Finserv (1% at Rs 1,324) are up 1-4% on BSE.
The Insurance Laws (Amendment) Bill, 2008, proposes to increase foreign direct investment (FDI) limit in the insurance sector to 49% from the existing 26%.