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Utilities - Sector
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Steel minister says to soon meet iron ore miners to review prices
Steel Minister Ram Vilas Paswan today said his ministry will soon convene
a meeting with iron ore miners to review prices of the commodity.
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NSG MEET -
* The 45-member Nuclear Suppliers Group to consider US proposal to allow nuclear commerce with India.
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AEGON Religare Life Insurance Company, the latest entrant in the Indian insurance sector, is working to ensure that all its branches break-even in 36 months, which would help it generate profits before other new entrants.
Addressing newspersons here on Tuesday, CEO Rajiv Jamkhedkar said that the company aims to do in three years (in terms of profitability) what the rest of the industry has taken eight years to achieve. “All our branches will break-even in 36 months and if we execute our plan, the company itself will break-even faster,” he said. “Our strategy is to acquire high-quality customers of recurring nature,” he added.
The company also launched four products and two riders. These are: AEGON Religare Level Term plan, AEGON Religare Protect Gain Plan, AEGON Religare Star Child Plan and AEGON Religare Premium Gain Plan. Except for the level-term plan, the other three plans are Ulips. There are two riders available — AEGON Religare CI Rider and AEGON Religare ADDD Rider.
As an industry first, AEGON Religare will insert the customer’s medical report as part of the policy kit. It will also offer policy servicing on the phone through IVR by issuing the customer a telephone pin for authentication.
With an initial capital of Rs 370 crore for the first year of operations, AEGON Religare is starting its operations with 38 branches spread across 32 cities. With a focus on acquiring quality customers, AEGON Religare will have a 1,000-strong direct sales force to build long-term relationships with customers, rather than short-term sales, said Mr Jamkhedkar.
This sales force will be backed by a network of 6,000 agents. AEGON is one of the world’s largest life insurance and pension players while Religare is a leading financial services firm. While Religare holds a 44% stake in the company, AEGON holds a 26% stake and Bennett, Coleman & Co holds the balance 30%.
The company received its licence a month-and-a-half ago. “We have a very clear and sharp strategy and that is to source high quality business and customers,” Mr Jamkhedkar said.
The company will hire in-house trainers across all branches and will look at setting up an insurance university to train the agents and its employees.
The life insurance company has launched a campiagn that uses the theme of under insurance to educate customers about the gap in their current lifestyle and the lifestyle their insurance covers.
“Almost 99% of those who are covered by insurance are under-insured, we are trying to educate customers about the under insurance,” Mr Jamkhedkar, a former Citibanker said. ET...
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The Hinduja Group of companies is likely to invest Rs 10 billion in various projects in the state of Karnataka.
It is planning to invest in the areas of power generation, building airports and medi-tourism projects.
The government is also ready to extend all help and support, provided the group is ready to invest in infrastructure projects like Power, Industrial Corridors and Tourism development
For information,with regards
rvk41...
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Indian steel firms have agreed to hold prices at current levels, Steel Secretary Pramod Rastogi told a business conference on Friday.
"The government had initiated number of fiscal measures to check prices and steel companies had agreed to hold prices and restrain exports. They have now agreed to hold prices further," he said. FE-
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Hi,
Thursday August 7, 03:38 PM
First Winner to set up 10 MW captive power plant at Tarapur
MUMBAI (Reuters) - Fabrics maker First Winner Industries Ltd said on Thursday it plans to set up a 10 megawatt captive thermal power plant at Tarapur, at an estimated cost of 500 million rupees.
The company would be able to save 50 percent of its power costs through this, it said...
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Amid the new found euphoria, power stocks have emerged as the best bet to invest in, according to market analysts who foresee great potential for the sector.
With the political uncertainty over the 123 agreement now behind, analysts feel that the Indo-US nuclear deal will give a major fillip to this sector. This was evident from the jump in all power stocks on Tuesday ahead of the trust vote.
The biggest plus for the sector is the support of the government, which has allocated around Rs 5,00,000 crore for power in its 11th Five Year Plan.
The country’s total installed capacity is currently 1,44,565 MW. The capacity addition envisaged in the 12th Five Year Plan is 82,000 MW, comprising 30,000 MW of hydro, 40,000 MW thermal and 11,000-13,000 MW nuclear. et-
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