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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A missing Malaysia Airlines jetliner may have turned back from its scheduled route before vanishing from radar screens, military officers said on Sunday, deepening the mystery surrounding the fate of the plane and the 239 people aboard. Full Article