Financials gain on hopes for banking bill
Reuters Market Eye - Shares of non-banking financial companies gain on hopes parliament will pass the banking amendment bill after Finance Minister P. Chidambaram says the government has reached an agreement with the opposition.
The bill would set the regulations required to open up the lending sector to outside companies.
Companies that investors believe will be among the first to obtain a license gain strongly: L&T Finance Holdings (LTFH.NS) gains 4.9 percent, Mahindra & Mahindra Financial Services (MMFS.NS) gains 3.8 percent, while Reliance Capital (RLCP.NS) is up 4.5 percent.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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The government made a push on Wednesday to bolster its strained finances, offering to sell a stake in miner Coal India and more mobile phone airwaves as it aimed to deliver on a promise to trim its fiscal deficit. Full Article