Insurance stocks zoom up to 12 pc after govt proposes to increase FDI cap - New India Assurance, General Insurance Corporation and ICICI Prudential Life Insurance rise
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.