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Shares of insurance companies today surged as the Upper House of Parliament is expected to vote on the legislation proposing to increase the foreign investment limit in insurers to 49 per cent from 26 per centas early as Thursday.
The law was passed in the Lower House of Parliament last week.
Max India Ltd surged 8.7 per cent, Reliance Capital Ltd rose 4.2 per cent and Bajaj Finserv Ltd was 1.5 per cent.
Traders say the insurance shares jumped on hopes that the Bill will be passed with amendments.
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