Read more about Axis Bank stake in Max Life likely to rise to 20 pc in 12-18 months on Business Standard. In line with the proposed deal, Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 12-18 months, said the insurance company s CEO Prashant Tripathy said.Currently, Axis Bank and its two subsidiaries
"Axis Bank is to increase to 19.99 per cent in tranches. Thirteen per cent is already done over the next two quarters, we will seek approval for the balance seven per cent. So, it will reach about 20 per cent and that will be the ownership of Axis Bank," Tripathy told.
Investors are bracing for market fallout as state after state locks itself down in India to contain the spread of the coronavirus as infections and deaths surge. More than two thirds of states are shut if assessed by their contribution to national output, analysts at Jefferies calculated last week. Tamil Nadu, which houses foreign manufacturers including BMW and Dell, will also close from Monday, while Delhi extended its lockdown for another week. The measures come as pressure builds on Prime Minister Narendra Modi to impose strict nationwide curbs as he did last year. All of that is forcing a reassessment among investors who had hoped that less-severe curbs would soften the blow to economic growth. Earlier in May, India’s central bank assured markets that it expects the dent in aggregate demand to be moderate in comparison with a year ago, with “containment measures being localized and targeted.”
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Investors are bracing for market fallout as state after state locks itself down in India to contain the spread of the coronavirus as infections and deaths surge.
More than two thirds of states are shut if assessed by their contribution to national output, analysts at Jefferies calculated last week. Tamil Nadu, which houses foreign manufacturers including
BMW and Dell, will also close from Monday, while Delhi extended its lockdown for another week. The measures come as pressure builds on Prime Minister Narendra Modi to impose strict nationwide curbs as he did last year.
All of that is forcing a reassessment among investors who had hoped that less-severe curbs would soften the blow to economic growth. Earlier in May, India’s central bank assured markets that it expects the dent in aggregate demand to be moderate in comparison with a year ago, with “containment measures being localized and targeted.”