December 12, 2012 / 8:54 AM / 5 years ago

Financials gain on hopes for banking bill

1 Min Read

Stock brokers engage in trading at a brokerage firm in Mumbai February 14, 2008.Arko Datta/Files

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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