IVRCL bags orders worth Rs732 crore

IVRCL’s mining division bagged an order worth Rs45.36 crore from Hindustan Copper

Hyderabad-based infrastructure major IVRCL said it had bagged orders worth Rs732.14 crore in the buildings, transportation, mining, water and solar power segments.

Among the orders is a contract for civil construction work for Tata Cummins at Phaltan, in Satara, Maharashtra, a release from IVRCL said.

The company said its buildings division secured orders worth Rs 404.60 crore from the Indian Institute of Science Education and Research at Bhopal, Indian Oil Corporation, Jindal Steel & Power and National Institute of Biomedical Genomics, West Bengal.

While the transportation division secured orders worth Rs251 crore from Mahanadi Coalfields, the mining division bagged an order worth Rs45.36 crore from Hindustan Copper.

Furthermore, Kishore Electro India has awarded an EPC contract for a solar power project worth Rs11.42 crore and Kerala Water Authority awarded a contract worth Rs19.41 crore to IVRCL, the statement said.

On Tuesday, IVRCL closed at Rs32 per share on the Bombay Stock Exchange, 10.15% up from the previous close.

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Pramerica MF launches dynamic bond fund

Pramerica MF new issue closes on 11th January

Pramerica Mutual Fund has launched Pramerica Dynamic Bond Fund, an open-ended income scheme.

The investment objective of the scheme is to generate optimal returns through active management of a portfolio of debt and money market instruments.

However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. The new issue closes on 11th January. The minimum investment amount is Rs5,000.

CRISIL Composite Bond Fund Index is the benchmark index. Mahendra Jajoo is the fund manager.

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HDFC Life launches online term insurance plan

HDFC Life Click2Protect is available in more than 750 cities across the country

HDFC Life has launched its online channel called ‘HDFC Life Click2Protect’–an online term insurance plan. The plan is suited for those who seek insurance cover at nominal premiums against their liabilities.

Sanjay Tripathy, executive vice president and head, marketing and direct channels, HDFC Life said, “HDFC Life Click2Protect is available in more than 750 cities across the country, the highest reach of an online term insurance plan in the industry. The objective of launching HDFC Life Click2Protect is to cater to the needs of informed customers based not only in metros, but in Tier 2 and 3 cities in the country.”

“HDFC Life Click2Protect is a term insurance plan aimed at an informed customer who understands his/her liabilities, the extent of cover needed and is fairly conversant with online purchase practices. Click2Protect offers the convenience of experiencing a simple, fast, convenient, transparent, and cost-effective way of buying a life insurance plan,” Mr Tripathy added.

Apart from HDFC Life Click2Protect, HDFC Life also offers other online products such as HDFC SL Young Star Super II and HDFC SL Crest.

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