?AUM of life insurers may treble by 2020?
AUM of life insurers will almost treble to $1 trillion (nearly R60 lakh crore) by 2020 from the current R19.4 lakh crore, according to projections by Life Insurance Council. The council?s secretary general V Manickam said projections were made on the basis of growth in GDP and household savings over the next few years.
FIIs emerge broad buyers of shares
Foreign investors have been broad buyers of shares in the third quarter, with increases in FIIs in about 75% of the BSE 200 companies, according to an HSBC report. That meant all sectors, except healthcare and staples, saw an increase in FII ownership.
SAT upholds fine on Keynote Corporate
The Securities Appellate Tribunal has upheld Sebi’s R10-lakh fine on Keynote Corporate Services in a matter related to regulatory violations in IPO of Edserv Softsystems in 2009. Sebi found that Keynote as a book running lead manager to the IPO of Edserv Softsystems failed to exercise due diligence.
Chola MS launches app for hospital info
Chola MS General Insurance Company has launched ?Chola Wellness?, where customers can download details of their health policy on Android-enabled smartphones for an easy access networked hospitals of the company without carrying respective policies or details to get admitted or serviced, said SS Gopalarathnam, managing director, Chola MS.
Uday Kotak named top entrepreneur
Kotak Mahindra Bank executive vice-chairman Uday Kotak was named the EY Entrepreneur of The Year 2013. Cipla chairman Yusuf K Hamied was honoured with the Lifetime Achievement Award. Eight other entrepreneurs were also awarded, including CitiusTech CEO RizwanKoita; Just Dial CEO VSS Mani; UPL CMD Rajju Devidas Shroff; Sobha Developers chief Ravi Menon; Eris Lifesciences CMD Amit Bakshi; Havells India CMD Qimat Rai Gupta and PVR CMD Ajay Bijli, Tech Mahindra?s Vineet Nayyar and CP Gurnani.
