New Delhi : The Sensex on Monday closed with gains as it surged 332.63 points or 1.3 percent trading at 25285.37.
Nifty on the other hand gained 99.90 points or 1.3 percent at 7704.25. HUL was up four percent while SBI, HDFC and Tata Motors were among the top gainers while Lupin, BHEL, Hero MotoCorp, GAIL and Coal India were losers in the Sensex.
Japanese insurer Nippon Life Insurance, Tata AIA and Aviva Life were among the 15 companies whose foreign direct investment proposals totaling Rs. 7,262 crore have been approved by the FIPB.
Besides, the proposal of Yes Bank to hike foreign investment limit to 74 percent from existing 41.87 per cent without any sub-limits has been referred to the Cabinet Committee on Economic Affairs (CCEA).
“Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on March 7, the government has approved 15 FDI proposals involving Rs. 7,261.6 crore and recommended one proposal for approval of CCEA involving FDI of Rs. 6,885 crore,” a Finance Ministry statement said. (ANI)