Non-financial, banking shares gain after LS passes banking bill

Mumbai: Shares in non-financial banking companies such as Shriram Transport Finance gained on Wednesday a day after a banking bill laying the groundwork for the issuance of new bank licenses was approved by parliament.

[caption id=“attachment_562601” align=“alignleft” width=“380”] The bill also seeks to draw foreign investment to the banking sector by increasing shareholders’ voting rights. Reuters[/caption]

The bill also seeks to draw foreign investment to the banking sector by increasing shareholders’ voting rights.

Banking shares gained, with State Bank of India up 1 percent, while Bank of India gained 1.3 percent.

Shriram Transport Finance Co Ltd rose 2.2 percent, while Mahindra & Mahindra Financial Services added 1.9 percent.

Reuters