The Telegraph
Since 1st March, 1999
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Business Briefs

Tata AIG cover for GE staff

Mumbai, July 2: In one of the biggest group life insurance deals in India, Tata AIG Life Insurance Company Ltd has extended life insurance cover to 17,226 employees of GE Group of companies for a total sum assured of Rs 1,865 crore. The company would provide group term life cover to employees of 21 GE firms (operating in India), a Tata AIG release said today.

Maruti price

Patiala, July 2: Maruti Udyog will soon hike prices of all its models following the recent increase in global steel prices, managing director Jagdish Khattar said today. The quantum of the hike would be decided by the board and the same would be implemented in about two weeks’ time, he said while launching the Maruti-SBI Finance scheme here. Maruti’s shares will be listed on the Bombay Stock Exchange on July 7.

Lupin stake

Mumbai, July 2: The promoters of Lupin Ltd will sell 50 lakh shares amounting to 12.5 per cent of the company’s equity to CVC International, a Citigroup entity, at Rs 250 each in a Rs 126-crore deal.

IISCO revival

Calcutta, July 2: The first step towards rehabilitation of Indian Iron & Steel Company (IISCO) has started today with the work on installation of a twin hearth furnace taking off. The furnace, which has been part of the Rs 341-crore package, will need an investment of Rs 25 crore.

Uco Bank tieup

Calcutta, July 2: Uco Bank has tied up with National Insurance to sell the latter’s general insurance products to its large customer base.

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