The BSE Sensex rose over 2,000 points in intraday trade and NSE Nifty breached 14,000 levels as investors cheered the Budget proposal to raise FDI limit in insurance to 74 per cent, scrappage policy for auto stocks, as well as privatisation of two nationa
Home » Website » Business » Union Budget 2021: Insurance Stocks Zoom Up To 12 Percent As Centre Proposes To Increase FDI Cap In Sector
Union Budget 2021: Insurance Stocks Zoom Up To 12 Percent As Centre Proposes To Increase FDI Cap In Sector
The central government has proposed to increase foreign direct investment (FDI) limit in the insurance sector to 74 per cent.
Representational Image Outlook Web Bureau 2021-02-01T14:35:31+05:30 Union Budget 2021: Insurance Stocks Zoom Up To 12 Percent As Centre Proposes To Increase FDI Cap In Sector outlookindia.com 2021-02-01T14:38:56+05:30
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The insurance sector is in for some good news as the central government has proposed to increase foreign direct investment (FDI) limit in the insurance sector to 74 per cent.
Budget 2021: Insurance stocks gain as FDI limit raised to 74%; ICICI Prudential, GIC up 5%
Reacting to the news, shares of ICICI Prudential Life Insurance Company rose 5.8 per cent, followed by General Insurance Corporation of India (up 5.41 per cent), The New India Assurance Company (up 5.16 per cent), HDFC Life Insurance Company (up 4.46 per cent), ICICI Lombard General Insurance Company (up 3.68 per cent), SBI Life Insurance Company (up 3.49 per cent), among other gainers
BusinessToday.In | February 1, 2021 | Updated 12:28 IST
Finance Minister Nirmala Sitharaman announced hike in FDI limit for insurance sector to 74%
Shares of insurance companies surged up to 5 per cent on the BSE after Finance Minister Nirmala Sitharaman, in her Budget 2021 speech in the Parliament, announced hike in foreign direct investment (FDI) limit in the sector to attract more foreign funds. The FM proposed increasing the FDI limit in insurance to 74 per cent in the Budget 2021. Currently, the FDI lim
Shares of companies engaged in insurance business rallied by up to 9 per cent on the BSE on Monday after the government proposed to increase foreign direct investment in the sector to 74 per cent, a move aimed at attracting overseas players.
The limit on FDI in Indian insurance companies will be lifted from 49 per cent to 74 per cent, said Finance Minister Nirmala Sitharaman on Monday in her Budget speech for 2021-22, accepting a demand the industry had proposed for long.
The law presently says an Indian insurance company has to be Indian-owned and controlled . This gives the Indian partner the right to appoint a majority of directors or control the management of a company. The Insurance Act will be updated to allow foreign ownership in insurance with safeguards.
Insurance stocks zoom up to 12% after Centre proposes to increase FDI cap in sector
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Insurance stocks zoom up to 12% after Centre proposes to increase FDI cap in sector
PTI / Feb 1, 2021, 14:38 IST
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(Representative image)
NEW DELHI: Shares of companies related to the insurance sector jumped up to 12 per cent on Monday after the government proposed to increase foreign direct investment (FDI) limit in the insurance sector to 74 per cent.
The New India Assurance Company zoomed 11.85 per cent, General Insurance Corporation of India jumped 8.78 per cent and ICICI Prudential Life Insurance Company gained 6 per cent on BSE.
Further, HDFC Life Insurance Company gained 5.19 per cent, ICICI Lombard General Insurance Company gained 3.96 per cent and SBI Life Insurance Company 3.74 per cent.