 |
||
|
||
| J&K Bank, MetLife settle insurance claim worth Rs 27 Lakhs Excelsior Correspondent SRINAGAR, Feb 19: A life insurance claim of Rs.27 lakh .....more' COIMBATORE, Feb 19: Tea prices generally witnessed a dearer trend and moved up by Rs.One to Rs.Two per kg, in the ...more NHPC IPO unlikely this fiscal: CMD NEW DELHI, Feb 19: Country's largest hydel power generator NHPC today said its initial public offering is unlikely to be launched this fiscal as the company is awaiting the appointment of ......more JPMorgan Asia-Pacific to invest USD 750 mn in pvt equity biz MUMBAI, Feb 19: JPMorgan Asia Pacific today announced a 750-million-dollar expansion into private equity, as part of its regional growth strategy.JPMorgan will be committing an initial 750 million dollars to mid-market private equity investment opportunities .....more |
|
ICRA revises upwards rating of
Graphite India's NCD programme MUMBAI, Feb 19: Rating agency ICRA Ltd has revised upwards the long-term rating of the Rs 50-crore non-convertible .......more Select centres freight rates down NEW DELHI, Feb 19: Freight rates for the nine metric ton payload section for select centres declined in local truck transport ......more MUMBAI, Feb 19: The initial public offer of electrical equipment maker V-Guard got subscribed 1.07 times on the second day of offer today.According to the latest data available on .......more Pistachio edges up on better demand NEW DELHI, Feb 19: Pistachio prices improved by Rs 5 a kg in the wholesale dry fruit market today on better buying support from retailers.However, prices of other commodities moved in a narrow range on small bouts of buying and selling and settled around ....more |
J&K Bank, MetLife settle
insurance Excelsior Correspondent SRINAGAR, Feb 19: A life insurance claim of Rs.27 lakh settled by J&K Bank and MetLife in favour of one of its deceased customers under "Mortgage Loan Scheme". The deceased had purchased the policy 11 months back from Soura branch of the bank, after obtaining a loan. As per the policy terms, the loan outstanding against the borrower was adjustable from the proceeds of the claim in the event of the death of the borrower. It is worth mentioning that the death of the borrower left his family in deep shock, as he was their only bread earner. The loan amount outstanding against the borrower was additional burden on the family. However the path chosen by the deceased during his lifetime with the proper guidance of the Bank and MetLife regarding the importance of insurance saved the bereaved family from the financial loss. They heaved a sigh of relief when their insurance claim was settled in a record time of one and a half month. Vice President (Bancas-surance), J&K Bank, M.A Kawoosa handed over the Cheque of Rs 27.00 lakh to Branch Head Soura for onward payment to the beneficiaries of the deceased after adjustment of the loan account. The timely settlement of the claim by MetLife and the role played by J&K Bank in educating the borrower for opting for this plan was appreciated by the legal heirs of the deceased COIMBATORE, Feb 19: Tea prices generally witnessed a dearer trend and moved up by Rs.One to Rs.Two per kg, in the Coimbatore auction held last week, industry sources said today Best Nilgiri Highgrown Orthodox Leaf sold dearer by Rs.Two and at times more, following better demand, while Best Fanning CTC Leaf ruled steady and others ruled lower by Re.One with some withdrawals, the sources said. In the dust category, very nominal quantities of Secondary Orthodox teas were on offer and quoted around last level, while selective high priced teas and Good Liquoring CTC Dust were dearer by Re.One. Medium and plainer sorts also ruled firm to dearer by Re.One. Orthodox High Grown Brokens ruled Rs.67 to Rs.72, Good/Best CTC brokens Rs.45 to Rs.57, Fannings Rs.53 to Rs.58, Medium Brokens Rs.45 to Rs.56 and Fannings Rs.48 to Rs.53. Best CTC Dust quoted Rs.63 to Rs.70 good Rs.56 to Rs.63, Medium Rs.48 to Rs.55, while Medium Orthodox Dust ruled Rs.40 to Rs.44, per kg. Of the total offerings of 4.24 lakh kgs, Dust comprised 2.66 lakh kgs, the sources said. (PTI) NHPC IPO unlikely this fiscal: CMD NEW DELHI, Feb 19: Country's largest hydel power generator NHPC today said its initial public offering is unlikely to be launched this fiscal as the company is awaiting the appointment of requisite number of directors on its board. "The IPO is likely to come in the first quarter of 2008-09 provided the independent directors are appointed by March 2008," NHPC chairman and managing director S K Garg told reporters here. The company filed the draft prospectus for the IPO in April last year and was hoping to hit the capital market in July-August. Garg, however, said the delay in IPO has not affected company's expansion plans as it had already tied up the first borrowing worth Rs 13,000 crore. NHPC proposes to issue 16.7 crore equity shares to offload a 15 per cent stake, including 10 per cent of company's equity and 5 per cent divestment by the Government. (PTI) |
JPMorgan Asia-Pacific to invest USD 750 mn in pvt equity biz MUMBAI, Feb 19: JPMorgan Asia Pacific today announced a 750-million-dollar expansion into private equity, as part of its regional growth strategy. JPMorgan will be committing an initial 750 million dollars to mid-market private equity investment opportunities in the Asia-Pacific, a release said here today. "This investment is part of our intensified growth strategy in the Asia-Pacific. It offers JPMorgan huge potential in the private equity market by allowing us to rapidly accelerate expansion and seize growth opportunities," JPMorgan Asia Pacific Chairman and CEO Gaby Abdelnour said. Private equity investments will give JPMorgan the opportunity to strengthen its relationship with existing corporate and financial sponsor clients by offering the ability to co-invest with them and provide growth capital, the release added. The expansion will be headed by Varun Bery and John Troy, co-founders of TVG Capital Partners. Bery and Troy will join JPMorgan as Managing Directors where they would lead a team with a broad investment mandate, including consumer, retail, industrial, healthcare and natural resources industries, focused on non-controlling investments. The team would be the Asian arm of JPMorgan's private equity principal investments business, which is headed by Bob Case in New York. (PTI) ICRA revises upwards rating of Graphite India's NCD programme MUMBAI, Feb 19: Rating agency ICRA Ltd has revised upwards the long-term rating of the Rs 50-crore non-convertible debentures (NCD) programme of Graphite India Ltd (GIL) from LAA- to LAA, indicating high-credit quality. The rated instrument carries low credit risk. ICRA has also re-affirmed the A1+ rating to the Rs 30- crore commercial paper, a short-term debt instrument of Graphite India, a release said today. ICRA has also assigned A1+ rating to the Rs 405-crore sanctioned bank limits for short-term fund-based and non fund-based facilities and an LAA rating to the Rs 50-crore sanctioned bank limits for long-term fund based and non fund-based facilities of GIL, it said. ICRA has assigned triple A ratings outstanding on the Rs 1,200-crore lower Tier II bond programme of Oriental Bank of Commerce, it added. (PTI) |
Select centres freight rates down NEW DELHI, Feb 19: Freight rates for the nine metric ton payload section for select centres declined in local truck transport market today due to easy availability trucks against less cargo movements. Transporters said low cargo movements against easy availability of trucks mainly pulled down select centre freight rates. Delhi to Bangalore and Mysore freight rates dropped to Rs 30,000 and Rs 33,000 and Kolkata eased to Rs 24,000 respectively. Following are today's freight rates for the nine metric ton load: Ahmedabad 12,000 Hyderabad 23,000 Mumbai 17,000 Vijayawada 25,000 Baroda 13,000 Bangalore 30,000 Pune 18,000 Mysore 33,000 Surat 14,000 Pondicherry 34,000 Kanpur 9,500 Coimbatore 40,000 Kolkata 24,000 Chennai 32,000 Ludhiana 9,000 Kochi 43,000 Chandigarh 7,000 Thiruvananthapuram 47,000 Jaipur 5,200 Goa 24,000 Indore 12,500 Gwalior 6,500 Patna 21,000 Guwahati 38,000 (PTI) |
|
MUMBAI, Feb 19: The initial public offer of electrical equipment maker V-Guard got subscribed 1.07 times on the second day of offer today. According to the latest data available on the National Stock Exchange, the issue got bids for 85.81 lakh shares against 80 lakh shares on offer. The price band for the issue has been fixed between Rs 80 and 85. The issue would close on February 21. The Kerala-based company plans to raise about Rs 70 crore from the capital market. The public issue was aimed at raising funds to augment production capacity, enhance the research and development facilities and to strengthen the market presence of V-Guard products across the country. (PTI) ) |
 |
|||||
|
|||||
|
|||||
|
