June 4, 2014 / 7:28 AM / 3 years ago

Insurance stocks surge on hopes of FDI limit hike

A shareholder speaks on a mobile phone while attending the annual general meeting of Reliance Capital in Mumbai September 27, 2011.Danish Siddiqui/Files

Reuters Market Eye - Shares in insurance companies surge on hopes that the new government may raise foreign direct investment limit in the sector to 49 percent from 26 percent, multiple dealers say.

Max India (MAXI.NS) surges 8.7 percent, Reliance Capital (RLCP.NS) advances 5.4 percent and Bajaj Finserv (BJFS.NS) gains 4.4 percent.

Reporting by Abhishek Vishnoi

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