Markets likely to witness lacklustre trade; eyes RBI’s monetary policy
April 07, 2021
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Stocks to watch out for today: Barbeque-Nation, RIL, Cholamandalam Investment, Axis Bank, M&M and Concord Drugs Markets are likely to witness another lacklustre trading on Wednesday, even as the Reserve Bank will unveil its monetary policy in the afternoon. However, global stocks continue to unsupportive of bulls, with the US and some Asian markets being listless.
SGX Nifty at 14,760 (8 am IST) indicates a flat opening, as Nifty futures on Tuesday closed at 14,750. While Dow Jones, Nasdaq and S&P 500 closed marginally lower overnight, Asian markets such as Japan s Nikkei, China s Shanghai, Australia s ASX and Korea s Kospi were little changed in the morning.
Cyril Amarchand Mangaldas advises on acquisition of 12 99 per cent stake in Max Life Insurance collectively by Axis Bank, Axis Securities and Axis Capital
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Cyril Amarchand Mangaldas advises on acquisition of 12 99 per cent stake in Max Life Insurance collectively by Axis Bank, Axis Securities and Axis Capital
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Private sector lender Axis Bank and its subsidiaries Axis Capital Limited and Axis Securities have completed acquiring a stake in Max Life Insurance and post of the completion of the transaction have become co-promoter of the life insurer with 12.99 per cent stake. With this, Max Life’s board will be recast with three nominees from Axis entities (Axis Bank, Axis Capital, and Axis Securities together are called Axis entities). It is also important to note that Axis entities can up their stake in the life insurance company by another 7 per cent, for which they would require further regulatory approvals. The transaction was completed after the insurance regulator’s approval in February. It took more than a year for the deal to get completed as Axis Bank had first announced its intention of acquiring a stake and becoming a strategic partner in Max Life back in February 2020. However, the deal ran into trouble with both the banking regulator and the insurance regulator as a resul
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