Friday, 13 March 2015 09:43
MUMBAI: Shares in Indian insurance companies surged at pre-open trade on Friday after the country’s parliament passed a bill proposing to increase overseas investment limit in the sector.
Max India gains 5.6 percent, Reliance Capital added 4.2 percent while Exide Industries surged 3.9 percent at pre-open.
Lawmakers in the upper house agreed to increase the foreign investment limit in insurers firms to 49 percent from 26 percent after the opposition Congress party supported the bill that was cleared by the lower house last week.
Copyright Reuters, 2015
