Pipe manufacturer Man Industries (India) Ltd said it has received orders worth Rs1,200 crore from various international and domestic customers including GAIL (India) Ltd for its Dabhol-Bangalore pipeline project.
These orders are for supply of approximately 200,000 tons of large diameter pipes, it said in a regulatory filing.
On Tuesday, Man Industries shares ended 1.7% up to Rs105 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.5% to 18,645 points.
Manufacturer of electricity transmission towers, KEC International Ltd said it plans to acquire US-based SAE Towers Holdings LLC and its operating subsidiary companies in Brazil, Mexico and the US. No financial details were provided.
SAE Towers has manufacturing facilities in Brazil and Mexico. It also has a tower test station in Brazil. SAE Towers is engaged in manufacturing and supply of power transmission towers, related hardware, sub-station structures and poles for power transmission.
On Tuesday, KEC International shares ended 1.7% up at Rs494 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.5% to 18,645 points.
MSI introduces F-series laptops in India; IDBI Federal launches Wealthsurance Milestone Plan; Cholamandalam launches e-policy; Tata MF introduces Tata Fixed Maturity Plan Series 27-Scheme B; IDBI Mutual Fund files offer document with SEBI to launch IDBI Monthly Income Plan; HDFC launches Dual Rate Product-4
MSI introduces F-series laptops in India
Taiwan-based laptop manufacturer Micro Star International (MSI) has introduced the F-series notebooks in India, equipped with the WiDi technology. The F-series price range is fixed between Rs37,000 and Rs53,000 depending on the model and configurations. The new line-up - FX400, FX600 and FR600 - is equipped with Intel Core i5 Processor, and with Intel Turbo Boost and Intel Hyper-Threading technologies, which adjusts processor efficiency on the go, greatly enhancing overall system performance. With the new F-series, featuring the country's first WiDi and powered by the Intel Core Processor family, one can sit back and enjoy favourite videos, photos and music on one's TV with great image clarity and amazing sound, wirelessly. MSI worked in collaboration with sound system designers Dynaudio and THX to design the F-series notebooks so that they would be both powerful and offer amazing sound. The company presently has three outlets in Bengaluru, Kochi and Jaipur.
IDBI Federal launches Wealthsurance Milestone Plan
IDBI Federal Life Insurance has launched a new unit-linked insurance plan (ULIP) called IDBI Federal Wealthsurance Milestone Plan. The plan offers a wide range of investment and insurance options. It comes with a wide range of 13 investment options and seven insurance benefits - all packaged with a low charge structure and flexibility. Wealthsurance Milestone Plan can be insured not only against risk of death but against 17 major diseases, hospitalisation, disability, accidental injuries etc. Conservative customers can choose guaranteed return options which offer fixed, assured returns. Those who can take more risk can opt for capital protected options where the entry net asset value (NAV) is guaranteed and returns depend upon the market. Customers who would like to get potential high returns of equity markets in the long term and understand the risk can opt for market linked equity options.
Cholamandalam launches e-policy
Cholamandalam MS General Insurance Ltd has launched an 'e-Policy' for its intermediaries, 'bancassurance' partners and customers. This initiative will enable the middlemen to see the list of all the policies generated online. This is a real-time system and can be accessed anytime, anywhere with secured password controls. The policy would be available in all the 113 branches of the company in the country. e-Policy aims to offer convenience and speed to Cholamandalam's intermediaries and bancassurance partners. It will shrink the policy issuance turnaround time. Cholamandalam offers a wide range of products that include accident, engineering, health, liability, marine, motor, property, travel and rural insurance for individuals and corporate.
Tata MF introduces Tata Fixed Maturity Plan Series 27-Scheme B
Tata Mutual Fund has introduced Tata Fixed Maturity Plan Series 27-Scheme B, a close-ended debt scheme. The investment objective of the scheme is to generate income and/or capital appreciation by investing in debt and money market instruments having maturity in line with the maturity of the scheme. The maturity of all investments shall be equal to or less than the maturity of the scheme. Maturity date of the Scheme B is 366 days from the date of allotment of units. The scheme has two options - growth and dividend (payout). The new fund offer (NFO) price is Rs10 per unit. The issue opens on 7th September and closes on 14 September 2010. The exit load for the scheme is nil. Minimum investment amount is Rs10,000. The benchmark index for the scheme is Crisil Short Term Bond Fund Index.
IDBI Mutual Fund files offer document with SEBI to launch IDBI Monthly Income Plan
IDBI Mutual Fund has filed offer document with the Securities and Exchange Board of India (SEBI) to launch IDBI Monthly Income Plan, an open ended income scheme. During the new fund offer (NFO) units will be available at Rs10. The investment objective of the scheme will be to provide regular income along with opportunities for capital appreciation through investments in debt, equity and money market instruments. The scheme has two options - growth and dividend. The benchmark for the scheme will be Crisil MIP Blended Index. An exit load of 1% will be applicable if units are redeemed within 12 months from the date of allotment. Minimum investment amount is Rs5,000. Minimum target amount is Rs1 crore.
HDFC launches Dual Rate Product-4
HDFC Ltd has introduced Dual Rate Home Loan-4 (DRHL-4). This offer is applicable to all new home loan customers who apply on or before 30
September 2010 and take at least part disbursement before 31 October
2010. Under this offer, home loans will be available at a fixed rate of 8.50% per annum up to 31 March 2011, 9.50% per annum for period between 1 April 2011 and 31 March 2012 and the applicable floating rate for the balance term. These rates are applicable for all new home loans irrespective of the loan amount.