Tags:
Journalism of Courage
MetLife India announces online term plan
MetLife India Insurance Company Limited (MetLife),launched first online term insurance plan Met Protect,which is also the one of the cheapest online insurance plan in the internet savvy age group of 21 45 years,available in the Indian market,according to a company statement. Met Protect,a pure term insurance plan,allows the customer to avail an affordable life cover protection with a click of a button. Customers can login to http://www.metlifeonline.co.in to buy Met Protect. Met Protect is also the only plan available in the market that offers single and semi-annual premium payment option,amongst all the term products available online.
Bharti AXA and Pramerica may sell stake in BoI
Bharti AXA Investment Managers and Pramerica Asset Management Company are in talks with Bank of India (BoI) for selling their stake to the public sector lender. Bank of India has decided to re-enter mutual fund business and is now scouting for a partner.
Three companies including Bharti AXA Investment Managers,Pramerica Asset Management Company and a foreign firm have made presentation to the bank (BOI)recently,sources said.
The bank will do due diligence of these firms and would take a call,sources said,adding that the bank intended to have majority stake in the asset management firm.
JV to audit hospitals on offing
The four state-owned general insurers will finalise by this month end a common Third Party Administrator (TPA) who will be their JV partner in a first of its kind arrangement that aims to check overbilling by some hospitals.
The four PSU insurers National Insurance Company,New India Assurance,Oriental Insurance and United India Insurance have received applications from as many as 24 bidders,both domestic and foreign,for the joint venture TPA.
The JV partner for a common TPA will be finalised within 8-10 days. We had received bids from 24 TPAs for the JV, General Insurers Public Sector Association (GIPSA) Chief Executive A K Singhal said.
Micorfinance Cos cautioned by high rates
Worried over recent upheavals in the microfinance sector on account of high interest rates small lenders charge and their strong-arm loan recovery tactics,many players have put on hold their plans to raise funds through the capital market.
Hyderabad-based Share Microfin,which was planning to hit the Dalal Street by fiscal end,has put on hold its initial public offering (IPO) and is consulting investment bankers on the issue,said a source close to the planning of issue.
Fund Managers assert domestic market strength exists
The Indian capital market remains fundamentally strong,concerns over high FII inflows are uncalled for and the much-feared flight of capital,if it at all happens,will only result in short-term volatility in the market,domestic fund managers have said.
Why are you worried about the scenario of selling by FIIs? Let the foreigners sell so that we can buy our own stocks cheap, Reliance Mutual Funds Head of Equity Investments Sunil Singhania said at an event here.
Both Singhania and Sanjay Sinha,Chief Executive officer of L&T Mutual Fund,opined that market-prospects were bright both in the medium and the long-term,and that a pull-out by FIIs,if at all,would only result in a short term volatility.
Market cap of top cos fall
The combined market capitalisation (m-cap) of eight of the countrys top ten companies declined by Rs 29,221.44 crore in the last week,with the state-run NTPC bearing the maximum loss. Power major NTPC witnessed a wealth erosion of Rs 8,946.33 crore from its kitty,thus narrowing its m-cap to Rs 1,67,753.88 crore during the last week. The company emerged as the top loser in the list of top-10 companies by their m- cap. Oil and gas major ONGC also shed Rs 4,438.16 crore from its market valuation,which was at Rs 2,86,908 crore.
