Insurance
Star Health launches two new health insurance policies

Star Health also introduced a new value added service to its customers - Personal Health Record maintenance services, in electronic form free of cost

 
Star Health has launched two new innovative health insurance policies - Star Comprehensive and Star Family Delite.
 
According to a press release, Star Comprehensive Insurance Policy is designed to ensure comprehensive coverage for the entire family offering hospitalisation benefits with no sub-limits or caps on room rent. Star Family Delite Insurance Policy offers optimum protection at an affordable cost for the entire family under a single policy.
 
During the launch of the two new products, AM Mallesh, vice president, Star Health and Allied Insurance, said, “For the past six years, Star Health and Allied Insurance has been proactive in introducing health insurance solutions to suit the needs of the people in every walk of life by ensuring value for money.”
 
Also, Star Health has introduced a new value added service to its customers - Personal Health Record maintenance services, in electronic form free of cost, which can be accessed by the insured from anywhere.
 
The key product features of Star Comprehensive include no room rent capping, no disease-wise limits, outpatient dental and ophthalmic treatments, hospital cash benefit, delivery and new born baby cover, and lifelong guaranteed renewals.
 
The key product features of Star Family Delite include in-patient hospitalization expenses, which includes room rent, boarding and nursing expenses; pre and post-hospitalization expenses covered; affordable health protection at affordable premium with optimal benefits.
 

User

L Capital to invest Rs108 crore in PVR; also to pick 10% stake

L Capital Eco will buy 10% stake in PVR by paying Rs57.7 crore and would also invest additional Rs50.1 crore in a new joint venture with the cinema exhibitor company

 
New Delhi: Private equity fund L Capital Eco will pick up 10% stake in PVR for Rs57.7 crore as part of the Rs108-crore investment in the cinema exhibitor, reports PTI.
 
L Capital Eco, a subsidiary of private equity fund L Capital Asia LLC, will invest Rs57.7 crore to pick up 10% stake.
 
The PE firm will also pump Rs50.1 crore into a new subsidiary to be set up by the two companies to invest in various in-mall entertainment, gaming, food and leisure formats.
 
"L Capital has a strong global reach and has already made introductions to multiple international entertainment, leisure and F&B concepts. We will work with them to expand our entertainment business across the country and bring innovative formats to India," PVR Joint Managing Director Sanjeev Kumar Bijli said.
 
L Capital will subscribe to 28.85 lakh equity shares in PVR at a price of Rs200 per share, a premium of about 21% over the closing stock price of Rs165.95 per share on NSE on 31 July 2012.
 
Also, the two companies will enter into a joint venture to invest in various in-mall entertainment, gaming, food and leisure formats. L Capital will initially invest Rs50.1 crore in the JV.
 
PVR's existing investment in PVR bluO Entertainment Ltd will now be held through this new subsidiary company.
 
The joint venture will be subject to the receipt of FIPB approvals.
 
PVR has posted a 51% dip in net profit at Rs7.56 crore for the quarter ended June 2012 as against Rs15.49 crore in the same period last year.
 
"In Q1 FY12, PVR had sold off property in Phoenix Mills, Mumbai, which fetched Rs16.96 crore. Service taxes, which is a new thing, also happened in this (Q1 FY13) quarter. On sequential basis, it has been a good quarter," Bijli said.
 
The company had registered a net loss of Rs13.24 crore in the January-March 2012 quarter.
 
The company's total income from operations stood at Rs177.36 crore in the reported quarter, up over 51% from Rs117.36 crore in the corresponding quarter last year.
 
"In this fiscal, we are looking at adding about 70 screens and in the next 2-3 years, some 300 screens. We are also expanding bluO operations across cities like Bangalore and Pune," he said.
 
He added that the company is "evaluating" and will launch other F&B formats in the next 4-6 months, under the partnership with L Capital.
 

User

Voltas net profit dips 40% in June quarter

During the first quarter, Voltas sales increased 20% to 1612 crore but net profit fell to Rs79 crore  

 
New Delhi: Tata group firm Voltas reported 40% decline in its consolidated net profit for the quarter ended June 2012 at Rs79 crore, reports PTI.
 
The company had posted a net profit of Rs132 crore in the corresponding period last year, Voltas said in a filing to the BSE.
 
The consolidated sales during the quarter, however, increased by 20% to Rs1,612 crore from Rs1,346 crore in the same period last year, it added.
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)