Morepen,Daffodils in pact
Dr Morepen Ltd has announced a marketing tie-up with Daffodils Consumer Products Ltd for distribution of its products in Bangladesh. “We hope to get an instant market penetration in Bangladesh with Daffodils’ broad network of 200 distributors”, Dr Morepen MD Kartik Rana said in a release.
Fitch Ratings India has assigned AA+ (Ind) rating to the Rs 140 crore subordinated debt programme of Andhra Bank. It has also assigned tAAA(Ind) and F1+(Ind) rating to the deposit programme and the short-term borrowing programmes, respectively, of Andhra Bank.
ICICI Pru Life
ICICI Prudential Life Insurance Ltd has garnered about Rs 10 crore of premium contribution to pension plans in the first quarter ended June 30, 2002. The venture has close to 30 per cent share in contributions to pensions with life insurance companies in the first quarter, which amounted to Rs 30 crore, managing director Shikha Sharma said. “There is a growing preference to save for retirement through life insurers and the average age of those opting for such plans has come down from 40 to 35 years,” Sharma said.
Kinetic Engineering aims to sell 75,000 units of its recently- launched 100cc motorcycle ‘Boss’ in the next 12 months besides ramping up its dealership network. “We are targeting to sell 60,000 ‘Boss’ motorcycles this fiscal and 75,000 in next 12 months. We will add 400 dealers to our existing network of 450 dealers in 8-12 months. These will primarily be in rural areas,” joint managing director Sulajja Firodia Motwani said. The Pune-based firm announced the signing of Kapil Dev as brand ambassador for the ‘Boss’.
Corporation Bank has launched life insurance cover to all its deposit account holders. Corp Jeevan Raksha under tie up with Life Insurance Corporation of India provides life cover of Rs 1 lakh (Rs 2 lakh in case of accidents) to all savings, current and fixed deposit account holders of the bank, on an optional basis.
Mastek has opened the Millennium Centre, its high-tech software development centre at the Millennium Park, Mahape, Mumbai.
GE Digital Energy, a unit of General Electric Company, has announced the availability of its uninterrupted power supplies (UPS) and advance power systems in India.
Idea Cellular Ltd has launched its fifth corridor in Andhra Pradesh — the Kakatiya Corridor — a 300-km stretch connecting Hyderabad to Mancherial via Warangal & Karimnagar.
Bombay Stock Exchange (BSE) has opened an exclusive service centre in New Delhi for investor services.
Sun F&C Mutual Fund has declared a dividend of 0.090823 per cent (or Re 0.0090823 per unit on face value of Rs 10) under the daily dividend plan.