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 plans to pull its tariff regime closer in line with global norms to prepare for new regional trade pacts being negotiated by advanced economies, the government said on Wednesday. Full Article
RBI to leave repo rate on hold next week but cut 25 bps by end-June - Reuters poll Full Article