NEW DELHI: The Foreign Investment Promotion Board (FIPB) on Friday approved Kotak Mahindra Bank's proposal to raise its foreign institutional investment (FII) cap in the bank from 49% to 55%, at the same time clearing confusion over rules for overseas investment in insurance.
The FIPB had deferred discussing Kotak's proposal on several occasions because of uncertainty over the implications of a higher FII rate for the bank's insurance venture, in which it has a 74% stake. "The approval
Read more at: http://economictimes.indiatimes.com/articleshow/47932145.cms
This step is long overdue and is very good news for the stock which has been trading in a range for past few months.
Kamalesh P Langote
Research Analyst
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (RESEARCH ANALYSTS) REGULATIONS, 2014:
The FIPB had deferred discussing Kotak's proposal on several occasions because of uncertainty over the implications of a higher FII rate for the bank's insurance venture, in which it has a 74% stake. "The approval
Read more at: http://economictimes.indiatimes.com/articleshow/47932145.cms
This step is long overdue and is very good news for the stock which has been trading in a range for past few months.
Kamalesh P Langote
Research Analyst
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (RESEARCH ANALYSTS) REGULATIONS, 2014:
- I have long positions in the stock.
- I /my family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending
- I /my family have not received any compensation from the company where I am recommending a trade or investment.
- I have not served as an officer, director or employee of company and have not been engaged in market-making activity of the company covered in the research report.
- I have no material conflict in recommendations posted here
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