IRDA issued guidelines on distance marketing of products to protect the interest of people who buy policies over phone or Internet
Insurance regulator IRDA (Insurance Regulatory and Development Authority) issued guidelines on distance marketing of products to protect the interest of people who buy policies over phone or Internet.
The IRDA said that distance marketing, which includes phone calls, SMSes and emails, should be done through employees of insurers or brokers, or specified person of corporate agent or telemarketers.
Shilpi Cable Technologies started the day at Rs78.35 on the BSE as against the issue price of Rs69 a share, reflecting a jump of 13.55%
Cables manufacturer Shilpi Cable Technologies made a strong debut on the bourses today, listing with a premium of over 13% on the Bombay Stock Exchange (BSE) vis-a-vis its issue price.
The company started the day at Rs78.35 on the BSE as against the issue price of Rs69 a share, reflecting a jump of 13.55%. Within minutes, the stock surged by 22.68% to touch an early high of Rs84.65 on the bourse.
In a similar fashion, the company opened the day at Rs78, up by 13.04% on the National Stock Exchange. On the volume front, over three crore shares of the company were traded on the bourses within the first one hour of trade.
The company had fixed a price band of Rs65-Rs69 a share for its Rs55.88 crore initial public offer.
Religare Mutual Fund new issue closes on 11th April
Religare Mutual Fund has launched Religare Fixed Maturity Plan-Series VII-Plan A to F-Plan A (370 Days), a close-ended income scheme.
The investment objective of the scheme is to generate income by investing in a portfolio of debt and money market instruments maturing on or before the date of maturity of the scheme. The tenor of the scheme is 370 days.
The new issue closes on 11th April. The minimum investment amount is Rs5,000.
CRISIL Short-Term Bond Fund Index is the benchmark index. Nitish Sikand is the fund manger for the scheme.