Reliance insurance growth
Anil Dhirubhai Ambani-promoted Reliance General Insurance has posted a growth rate of 113 per cent over the previous year with its total premium amounting to Rs 1,946 crore. The company has added over Rs 1,000 crore in its total premium against Rs 912 crore last year. The company has nearly doubled its market share to seven per cent from four per cent. The company plans to expand its reach to 500 cities and launch niche products in retail segments, particularly health.
Synergy Log-in Systems Ltd has posted a 57.87 per cent rise in net profit at Rs 56.39 lakh in the six-month period ended December 2007 compared with Rs 35.72 lakh in the corresponding period a year ago. The turnover stood at Rs 2.05 crore against Rs 1.89 crore in the year-ago period, which represents a growth rate of 9.42 per cent.
Bajaj Allianz Life Insurance has launched Super Saver, a premium endowment plan, that offers vesting bonuses and guaranteed addition of 4 per cent of sum assured each year. Targeted at the rural population, the plan comes with an in-built accidental death benefit.
Hindustan Unilever has launched its water purifier called Pureit in Calcutta. Puriet is fitted with a germ kill battery kit. The product is priced at Rs 1,800.
International Finance Corporation (IFC) has received approval from its board of directors to invest in Tata Powers Mundra project. The 4,000MW, coal-fired power plant will supply power to industrial and agricultural users and serve 16 million domestic consumers.
Usha Martin has been assigned A+ (Ind) rating by Fitch, which recognises the company's position as a key player in the speciality segment of the steel industry. The company has also received PR1+ rating from CARE for its short term bank facilities aggregating Rs. 1,300 crore.
Liberty Shoes has launched its Senorita Miss India collection. Made of non-leather items, the collection includes footwear of various style and shade.
Allahabad Bank has opened its 2154th branch at Pudukkottai in Tamil Nadu. It has also launched internet banking, SMS banking, mobile banking and e-payment facility.
Unity Infraprojects Ltd has bagged two orders worth Rs 221.85 crore. The company will build a mall, hotel and multiplex at Viman Nagar at an investment of Rs 133.59 crore. In Hyderabad, Unity will build five towers for Kondapur Tower involving Rs 88.26 crore.