Insurance stocks gain; govt panel approves recommendations on insurance bill

Reuters Market Eye - Finance Minister Arun Jaitley expressed satisfaction over recommendations on insurance bill made by a parliamentary panel, the government said in a statement on Monday.

Jaitley hopeful insurance market expansion would take place once the bill is passed by Parliament.

Amendments to the Act seek to raise foreign direct investment cap to 49 percent, among other things.

Max India gains 3.4 percent, Exide Industries up 0.2 percent.

Bajaj Finserv rises 0.7 percent while Reliance Capital up 1 percent.

(Reporting by Abhishek Vishnoi)