India S Biggest Private Sector Life Insurer

HDFC Standard Life Insurance Co Ltd reached agreement on Monday to take over smaller rival Max Life Insurance in an all-stock deal to create India's top private life insurer valued at nearly $10 billion (around Rs 65,000 crore).

ICICI Bank shares gained nearly 2 per cent to Rs 272.35 at day's high after India's biggest private sector lender by assets announced stake sale in its life insurance unit at a better-than-expected valuation.

HDFC Standard Life Insurance Co Ltd reached agreement on Monday to take over smaller rival Max Life Insurance in an all-stock deal to create India's top private life insurer valued at nearly $10 billion (around Rs 65,000 crore).

ICICI Bank shares gained nearly 2 per cent to Rs 272.35 at day's high after India's biggest private sector lender by assets announced stake sale in its life insurance unit at a better-than-expected valuation.