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.
Trending On Reuters
India's economic growth slowed by more than expected in the quarter to June, according to data released on Monday that will worry Prime Minister Narendra Modi and prompt more urgent calls from his aides for interest rate cuts. Full Article | Expert views