Financials gain on hopes for banking bill

Tags: News
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 gains 4.9 percent, Mahindra & Mahindra Financial Services gains 3.8 percent, while Reliance Capital is up 4.5 percent.

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