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Shares of life insurance companies plummeted, with declines of up to 4%, following reports that the insurance regulator IRDAI is considering capping the share of bancassurance business from parent banks to 50%. Currently, parent banks account for 85-95% of the bancassurance business for firms like HDFC Life, Max Life, and SBI Life, while ICICI Bank represents 50% for ICICI Prudential. The regulator's move aims to address concerns over the heavy reliance of insurers on bancassurance.
On Monday, traders are advised to consider strategies for stocks including SBI Life, Axis Bank, Indian Hotels, Zomato, and Aegis Logistics. Additionally, there is an option to receive push notifications for relevant content and transaction updates.
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