Mumbai: Shares of companies engaged in the insurance business such as Aditya Birla Nuvo, Max India and Reliance Capital on Thursday surged as much as 5 per cent on hopes that the government will accelerate pace of economic reforms by raising foreign direct investment (FDI) cap in the sector.
Aditya Birla Nuvo gained 5 per cent to Rs 955, while Max India jumped 4.8 per cent to Rs 244.50 on the BSE. Among others, shares of Reliance Capital rose by 4 per cent, while Bajaj Finserv was up 3.45 per cent.
Unfazed by the uproar over decision on FDI in retail, the government is determined to give a push to reforms, with the Union Cabinet set to consider today big-ticket measures like opening pension sector to foreign investment and raising FDI cap in insurance sector to 49 per cent.
The Insurance Laws (Amendment) Bill seeks to raise the FDI cap in insurance sector to 49 per cent from the 26 per cent at present. In the broader market, the BSE 30-stock index, Sensex, was trading at 19,049.27, up 179.58 points at 1133 hrs....
more
12:20 PM, Oct 04, 2012
New Delhi: Former telecom minister A Raja, DMK MP Kanimozhi along with 12 other people and three companies, who have been accused in the 2G spectrum allocation scam case, have been charged under Indian Penal Code Section 409 (criminal breach of trust by public servant, or by banker, merchant or agent). The maximum punishment if convicted for criminal breach of trust is life term while the minimum punishment is seven...
01:09 PM, Nov 11, 2011
New Delhi: The trial in the biggest corruption case in the country got off to a noisy start in the court of Special Central Bureau of Investigation Judge OP Saini in New Delhi on Friday. As soon as the trial in the 2G spectrum allocation scam began the defence counsel objected to the trial being conducted in a cramped space. There was more drama as prime accused in the 2G...
01:01 PM, Nov 11, 2011
Mumbai: Industrialist Anil Ambani on Tuesday said that his group's financial services arm Reliance Capital would explore all possible opportunities to enter the banking sector and plans to unlock value in all its major businesses. The banking entity of the group could be called Reliance Bank, Ambani told the shareholders of Reliance Capital. Replying to shareholders' queries on whether the company would consider the issue of bonus shares and a...
12:20 PM, Sep 27, 2011
New Delhi: Tamil Maiyyam, an NGO closely associated with DMK MP and Karunanidhi's daughter Kanimozhi, raided by the CBI in December last year in connection with the 2G scam, received donations from various telecom companies that won 2G licenses. CNN-IBN has accessed the audited balance sheets of Tamil Maiyyam which reveal direct payments by telecom operators to the NGO, especially in 2007 and 2008. That was the period when the...
08:07 PM, Apr 13, 2011
The Ambani groups have gained maximum benefit in stocks last week. ...
03:07 PM, May 25, 2009
Karachi: The Pakistan Cricket Board is still awaiting the 3000 tickets promised to it by the BCCI for the much-anticipated Twenty20 and ODI series in India later this month. A PCB source told PTI that although a long list of requests had been received by the three travel agencies designated to handle the requests from Pakistanis wishing to travel to India for the matches, none had been processed due to...
01:34 AM, Jul 31, 2008
Indian skipper Dhoni's future is in serious doubt after he led india to massive defeats in England, Australia and now a home series to England. ...
11:05 PM, Jul 30, 2008
