L&T bags Rs2,164 crore order from GMR Infra

The order is for construction of stretches consisting of six-laning of the Kishangarh-Udaipur-Ahmedabad highway

Engineering major Larsen & Toubro’s (L&T) construction division has bagged new contracts worth Rs2,164 crore in the infrastructure segment from GMR Infrastructure.

"The order is for construction of stretches consisting of six-laning of the Kishangarh-Udaipur-Ahmedabad highway. The development would be executed on EPC (engineering, procurement & construction) basis," L&T said in a statement.

Kishangarh-Udaipur-Ahmedabad project is a part of Phase-V of the National Highways Development Programme (NHDP) of the National Highways Authority (NHAI) and is for upgrading the existing four-lane section of the Golden Quadrilateral to six-lanes. National Highway-8 (NH-8) connects Delhi with Mumbai.

On Wednesday, L&T ended at Rs1,159.50 per share on the Bombay Stock Exchange, 1.04% down from the previous close.

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Templeton India Corporate Bond Opportunities Fund introduces facility to subscribe & redeem units through exchanges

Subscriptions of amount less than Rs1 crore only will be permitted through this facility

Franklin Templeton Mutual Fund has extended the facility to subscribe and redeem the units of Templeton India Corporate Bond Opportunities Fund through infrastructure of the NSE and BSE, with effect from 15 December 2011. Subscriptions of amount less than Rs1 crore only will be permitted through this facility.

Templeton India Corporate Bond Opportunities Fund is an open ended income fund which seeks to provide regular income and capital appreciation through a focus on corporate securities.

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‘Employees asked to contribute to cost of company benefit schemes’

Employers are beginning to respond to key health concerns with emphasis on wellness initiatives to help their employees improve their overall health and increasing medical costs

The increasing costs of medical insurance are forcing employers to make changes to the way they provide this benefit to their employees, with many companies asking them to contribute to the cost of provision, according to a recent study.

The average policy premium cost per employee has increased to Rs9,300 in 2011 from Rs6,800 in 2008-09, according to findings released in the 6th annual Employee Benefits Study: Employee Engagement, conducted by Marsh India, a subsidiary of leading insurance broker and risk advisor Marsh.

“Plan design changes provide immediate respite from premium increase but it is not a sustainable strategy,” said Marsh India CEO Sanjay Kedia said.

Understanding the underlying cost drivers and adopting appropriate measures such as employee engagement and wellness initiatives will result in greater long-term suitability, he added. The survey found that 92% employers want to align their benefits to the market compared to 58% in 2008-09.

Almost two-thirds of surveyed organisations have already made at least one change to their benefit plan design in the last two years by requiring employees to make a greater contribution to the company benefits scheme. The survey covered 1,800 employees in 188 organisations as well as five insurance companies, five third party administrators and five health and wellness solution providers.

The study also highlighted the need for improving employee communication as 76% of employees stated they have little or insufficient knowledge about their benefit plans. However, 70% of the employers believed that their existing communication efforts were clear and comprehensive.

Employers are beginning to respond to key health concerns with emphasis on wellness initiatives to help their employees improve their overall health and increasing medical costs, it said. Nearly 83% employers say that the use of wellness programs is a highly important benefits strategy to their organisation.

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