Gulf Oil First-Quarter Net Surges 186 Per Cent

Canada-based insurance major Standard Life and private equity fund Warburg Pincus have sought the Foreign Investment Promotion Board's (FIPB) permission to raise their respective stake in HDFC Ltd to 10 per cent each.

Standard Life has a five per cent stake and Warburg holds six per cent in the non-bank financial company (NBFC).

HDFC chairman Deepak Parekh declined to comment on the specific names. "There is no proposal to increase the equit