Insurance bill positive for Reliance Capital: P Phani Sekhar, Angel Broking

In a chat with ET Now, P Phani Sekhar, Fund Manager-PMS, Angel Broking, shares his views on Reliance.

ET Now: Rajya Sabha has passed the insurance bill. How positive is it for Reliance Capital in particular since they are the front runners to offload some stake there?

P Phani Sekhar: It is positive not just for Reliance Capital but almost all insurance conglomerates. It is a bit surprising because half an hour back they were rigorously discussing the judicial appointments and in 15 minutes after such hullaballoo over insurance bill they passed it. Nevertheless it is a good piece of news.