Bharti AXA Life Insurance has launched its Bright Stars Edge and True Wealth. The period from January to March is the season for tax savings, and hence the rush of fresh ULIP offerings
Bharti AXA has launched its new Unit-linked Insurance Plan (ULIP) with new names, but carrying the same old charges. The 'fresh' offering has no new functionality.
There is no single premium option in these ULIPs. The charges of most of these new ULIPs are more than old ULIPs, when compared for 5 years or more; these ULIPs fall under the same category.
Bright Stars Edge offers the double benefit of sum assured and fund value release, should something unfortunate happen to you. But this results in increased mortality charges that are ultimately paid by the policyholder.
It offers several investment options with different mix of debt and equity. The policyholder can have 12 free switches each year. The charges are in-line with other new ULIPs offered post 1 September 2010 when compared for those ULIPs with 5-year duration, and on the higher side for duration of 10 years and beyond.
The True Wealth plan offer guarantees you the highest daily Net Asset Value (NAV) for the first 7 years on maturity with a minimum NAV guarantee of Rs12.
The policy duration is 10 years, but has limited premium payment term of 5 years, that allows funds to grow for 10 years after a minimum of 5 years of premium paid.
The highest NAV is not applicable in the event of the policyholder's demise before policy term or surrender of policy. There is only one investment option that has flexibility for the insurer to have equity from 0% to 100% and debt from 0% to 100%.
This is a typical highest NAV plan, wherein policyholders will not get great returns. It is for the conservative risk-averse investor. There will be some exposure to equity in the beginning of the policy term, but it will then be moved to debt.
The NAV guarantee of Rs12 is nothing spectacular. Even if we assume a starting NAV of Rs10, it is just 20% in 10 years. The charges are in-line with other new ULIPs offered post 1 September 2010 when compared for those with 10 years' duration.
Jubilant FoodWorks opened 25 new stores in the December 2010 quarter
Jubilant FoodWorks Ltd, which operates fast food chain Domino's Pizza in India, has reported a 66.7% jump in its profit after tax (PAT) at Rs18.95 crore for the third quarter ended 31 December 2010 compared to Rs11.37 crore for the corresponding quarter last fiscal.
During the period, the company's net sales stood at Rs185.63 crore, against Rs117.13 crore over the corresponding quarter last fiscal.
"We have generated a good sales momentum in the third quarter with a strong operating performance for our business," said Ajay Kaul, CEO, Jubilant FoodWorks.
The company opened 25 new stores during the quarter and currently operates 364 outlets across the country.
On Tuesday, Jubilant FoodWorks ended 3.63% down at Rs496.85 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.45% to 17,775.70 points.
Lanco Infratech’s standalone net profit increased to Rs133.56 crore in the December 2010 quarter from Rs114.51 crore in the same period last fiscal
Construction firm Lanco Infratech Ltd said its consolidated net profit grew by 53.52% to Rs164.03 crore for the third quarter ended 31 December 2010, over the same period a year ago.
The group had a consolidated net profit of Rs106.84 crore for the same quarter last fiscal, Lanco Infratech said in a filing with the Bombay Stock Exchange.
Total income of the group increased to Rs1,661.45 crore for the quarter under review from Rs1,612.76 crore for the same period previous fiscal.
Standalone net profit increased to Rs133.56 crore in the third quarter under review from Rs114.51 crore in the same period last fiscal.
Standalone total income rose to Rs2,027.11 crore in the quarter under review from Rs1,320.74 crore in the same period a year ago.
The company entered into a binding agreement to acquire Griffin Coal Mine in Australia during the quarter under review, it said.
Lanco operates across a chain of strategic business units comprising power, EPC, construction, renewables, resources and non-power infrastructure.
Lanco is emerging as one of the top three private sector power developers with 2,092MW under operation, 7,153MW under construction, and 11,070MW of projects under development.
On Tuesday, Lanco Infratech ended 16.76% down at Rs38.50 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.45% to 17,775.70 points.