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Public sector insurance giant LIC is eyeing to capitalize on its vast network of insurance agents and expects its asset size to swallow by about Rs 6,00,000 crore or 75% in next three years. Given the increase in its kitty, the company’s asset base is pegged at between Rs 13,00,000-14,00,000 crore in three years’ time. … Read more LIC eyeing for Rs 14 tn asset base in 3 yrs
Beleaguered Real Estate Company, Unitech Ltd has informed that the aggregate no of shares pledged by the promoter or every person forming part of the promoter group is 803350407 constituting 49.48% of the outstanding shares of the Company. Prakausali Investments (India) Pvt Ltd Mayfair Investments Pvt Ltd Mayfair Capital Pvt Ltd Tulip Investments Ltd R … Read more Unitech promoters pledge 49.5% shares
HBL Power Systems is in the process of setting up of a Joint Venture Company (JVC) in the Kingdom of Saudi Arabia (KSA) with Advance Electronics Company, a Government Offset Partner Company and Abdullah H Al Shuwayer & Sons T&C Co as local JV partners. HBL Power Systems will have a 40% stake in the … Read more HBL Power to set up a JVC in Kingdom of Saudi Arabia
A host of Internet Service Providers (ISPs), including few telcos, have opposed TRAI’s regulations to ensure that ISPs provide internet connections based only on the capacity of traffic they can carry. TRAI has proposed to introduce norms that would mention the ratio between the number of customers per unit bandwidth. The average international contention ratio … Read more ISPs set to oppose new TRAI regulation
India’s power equipment manufacturers have asked the government to extend infrastructure status to help the power sector counter the impact of economic downturn. Indian Electrical and Electronics Manufacturers’ Association (IEEMA) is also seeking exemption from income and service taxes available to power utilities along with excise tax cuts. The industry body said that fiscal incentives … Read more Pre Budget Talk: Power Equipment Manufacturers + Banks ask for Service Tax Break
India’s major insurer – Life Insurance Corporation of India (LIC) – is all set to launch its credit card – LIC Credit Card before end-March, a company official announced. The insurer had earlier scheduled the launch of its credit card for January. However this was deferred due to some technical reasons. LIC has inked pact … Read more LIC credit cards by end of March with Corporation Bank