Edelweiss Tokio Life has obtained final nod from Foreign Investment Promotion Board for raising its foreign joint venture partner – Tokio’s - stake to 49% in the company.
While the sharp rupee fall has helped IT, pharma, textiles, two-wheeler segments, the five most vulnerable sectors are refineries, iron and steel, fertilisers, aluminium and power, rating agency Care said.
Jaitley said the crude oil prices hitting lowest levels in over six years and the slump in commodity prices are expected to benefit a net importer like India.
The Securities and Exchange Board of India has clarified rules on employee stock option plans after the new insider trading rules restricted the timing of sale of such shares.
State-owned Life Insurance Corp of India (LIC) has purchased nearly 90 per cent of Indian Oil shares sold by the government in its Rs 9,379-crore disinvestment.
European shares rose more than 4 percent, on track for their best one-day gain since late 2011, with a rate cut from China providing added juice to a recovery from a sell-off.