Tata AIG Life has launched InvestAssure Gold Supreme and InvestAssure Maximizer
Private insurer Tata AIG Life Insurance Company has launched two unit linked products-Tata AIG Life Insurance InvestAssure Gold Supreme and Tata AIG Life Insurance InvestAssure Maximizer.
Tata AIG Life Insurance InvestAssure Gold Supreme a policyholder can avail of life insurance protection for the whole of life as also leave a legacy by paying premiums for 5 or 7 years, the insurer said in a release.
With Tata AIG Life Insurance InvestAssure Maximizer, the policyholder can choose a life cover term ranging from 20 to 40 years by paying premiums for 5 or 7 years.
In addition, it also offers the choice of two life cover options-Premium Life Cover (death benefit is the combination of sum assured and fund value) and Standard Life Cover (death benefit is higher of sum assured or fund value).
Tata AIG Life Insurance InvestAssure Gold Supreme can be purchased by an individual at any age ranging from 4-60 years with a maximum maturity age of 100 years, while Tata AIG Life Insurance InvestAssure Maximizer can be purchased by an individual at any age ranging from 4-55 years with maximum maturity age of 75 years. Tata AIG Life Insurance is a joint venture company, formed by Tata Sons and AIA Group.
The company now has a total of 136 abbreviated new drug application approvals from the US Food and Drug Administration
Aurobindo Pharma today said that it has received final approval from the US health regulator for launching Donepezil Hydrochloride tablets, a central nervous system (CNS) drug, in the US market.
The company has received approval from the US Food and Drug Administration (USFDA) for Donepezil Hydrochloride tablets in strengths of 5mg and 10mg, Aurobindo Pharma Ltd said in a statement.
“The product has a market size of approximately $2.50 billion for the 12 months ending September, 2010, according to IMS and will be launched soon,” the company said.
Donepezil Hydrochloride tablets are the generic equivalent of the Aricept Tablets developed by Eisai Medical Research Inc, it added.
The tablets are used for the treatment of mild, moderate and severe dementia like Alzheimer’s and fall under the CNS therapeutic segment, it said.
The company now has a total of 136 abbreviated new drug application (ANDA) approvals from the USFDA.
Shares of Aurobindo Pharma were being quoted at Rs178.10 on the Bombay Stock Exchange in late afternoon trade today, up 0.82% from their previous close.
So far this year, FIIs have made a net investment of Rs13,798.50 crore in the debt market, whereas they have withdrawn Rs1,901.80 crore from the equities market
Foreign institutional investors (FIIs) are curtailing their investments in the equities market and are instead shifting their focus to the debt market where they have pumped in as much as Rs13,798.50 crore so far this year, reports PTI.
FIIs are giving equities a skip, owing to factors such as the impending slowdown in domestic economic growth, rising inflation and the high interest rate regime prevailing in the country, say experts.
Commenting on this trend, Ashika Stock Broking’s research head (Equities) Paras Bothra said, “This is a natural shift from FIIs or any other class of investor. With interest rates remaining astronomically high, portfolio allocation to debt market is raised up in the overall composition of the asset allocation structure.”
FIIs have so far this year made a net investment of Rs13,798.50 crore in the debt market, whereas they have withdrawn Rs1,901.80 crore from the equities market so far this year, according to information available on market regulator SEBI’s website.
“Oil/inflation and international bad news are at centre-stage and FIIs keep pulling out and putting in money in accordance with the news flow. It happens in any market,” said Abhinav Dwivedi, founder-president, Progressive Financial Ventures.
Mr Dwivedi added that the shift towards debt is not permanent. In a downtrend, offloading equities is normal.
The Sensex, has dived 9.78% from its peak of 20,509.09 points in January this year and 12.74% from its all-time high of 21,206.77, scaled on 10 January 2008.
Going forward, FII flows are likely to remain moderate to weak because of the natural tendencies of the equity market as an asset class becoming unfavourable with high interest rate regime, Mr Bothra said, adding that the recent political and corporate problems have also kept FIIs on tenterhooks.
Meanwhile, the number of FIIs registered with SEBI has marginally declined from 1,718 as on 31 December 2010 to 1,716 as on 31 May 2011. The number of registered sub-accounts has however increased from 5,503 in 31 December 2010 to 5,833 sub-accounts as on 31 May 2011.
FII inflows so far this year are in contrast to last year’s trend, when robust inflows helped the Indian stock markets sustain momentum, even when the global economy continued to reel under pressure.
In 2010, foreign investors had purchased stocks and bonds worth about Rs10 lakh crore, a record high for a year and nearly one-fifth of their overall investment so far.