lIC’s north Zone surpasses premium target of 4745 Cr for FY 2017-18
North Zone of lIC comprising of 17 divisions spread over Delhi, Rajasthan, Haryana, Punjab, Himanchal and J&K has completed its annual new business target of First Premium on March 14, 2018 for the FY 2017-18. It has crossed the budgeted figure of Rs 4745 crores on first premium and this feat has been achieved by the Zone for the first time in the history of Zone by March 14, 2018, almost 17 days before the closure of the FY 2017-18. The credit of the stupendous performance goes to agents, development officers, ClIA’s, Marketing officials and entire administrative team of the Zone. We are thankful to public at large for reposing their trust on us and enabling us to achieve this feat. Further lIC of India is going to launch a new plan ‘Bima Shree’ (Table No. 848) on March 16, 2018. It is a non linked with profit limited premium payment money back plan with guaranteed addition available to age group of 8 to 55 years.
BHEl commissions 600 MW TPP in Andhra Pradesh
Bharat Heavy Electricals limited (BHEl) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh. The unit has been commissioned at Rayalaseema Thermal Power Project, of Andhra Pradesh Power Generation Corporation limited (APGENCO), located in Cuddapah District of Andhra Pradesh. BHEl has a longstanding relationship with APGENCO having supplied 100 per cent of its coal-based power generating sets. At present, BHEl is setting up two supercritical units of 800 MW rating in the state of Andhra Pradesh, one each at Vijaywada and at Krishnapatnam. BHEl’s scope of work for the Rayalaseema project includes design, engineering, manufacturing, supply, erection and commissioning of Steam Generator, Turbo Generator, ESP along with associated Auxiliaries, Electricals, state-of-the-art Controls & Instrumentation (C&I), and Switchyard. The key equipment for the project has been manufactured by BHEl at its Haridwar, Trichy, Bhopal, Ranipet, Hyderabad, Jhansi and Bengaluru plants, while the construction of the plant was undertaken by the company’s Power Sector-Southern Region. Significantly, 600 MW sets are in-house engineered, higher rating units based on BHEl’s highly successful 500 MW rating units, which form the backbone of the Indian Power Sector. So far, BHEl has successfully commissioned 18 sets of 600 MW rating in the country.
NBCC CMD receives ‘CEO OF THE YEAR’ AWARD
Anoop Kumar Mittal, CMD, NBCC (India) ltd. has been conferred ‘CEO OF THE YEAR’ Award by Top Rankers Management Consultants at its ‘Fore-Top Rankers Excellence Awards 2018’ ceremony organised at le-Meridian, New Delhi on February 23, 2018. The award was received by SD Sharma, Sr Executive Director (Engg.) on behalf of CMD. The Award ceremony was held during the 19th National Management Summit organised by Top Rankers.
Tata Power-DDl launches Artificial Intelligence Solution for indian Discoms
Tata Power Delhi Distribution (Tata Power-DDl), the pioneer in power distribution in India, has launched Artificial Intelligence Solution for Indian Discoms to make their operations smarter. The solution - ‘Choice Revenue Intelligence’ is a first in India and Tata Power-DDl is the exclusive country partner and system integrator of the predictive analytics software solution for Indian Discoms. The solution works by gathering data from the smart meters and applying the most advanced artificial intelligence techniques to detect the theft of electricity and give solutions for the same in the Utility space. The solution will also help Discoms achieve their AT&C loss targets which is a major component of the Govt. of India’s UDAY scheme. Choice solution is available on cloud platform on ‘Software as a Service’ (SaaS) Model and can be quickly implemented on the utility’s existing billing system to meet the objective of UDAY Scheme of bringing down the national average AT&C loss levels from the current 21.79 per cent (as per the Ministry of Power, GoI.) to a much lower level.
POSOCO receives ‘Amity leadership Award’
Meenakshi Davar, Director (Human Resources), Power System Operation Corporation ltd. a Government of India Enterprise under Ministry of Power has been honored for her exemplary leadership skills and conferred with ‘Amity leadership Award for Excellence in Power and Energy Industry’ by ‘Amity Business School’ during their 3rd Global leadership Conference held on March 14, 2018 at Noida.
SAIl organises interactive workshop and conferences across country
In its journey to acquaint increasing number of people with various steel usages for eventually boosting domestic steel consumption, Steel Authority of India ltd. (SAIl) is organizing series of workshops and conferences titled “SAIl Structurals - The future of Steel Design” across the country with the objective of promoting Structurals, specially the user friendly Parallel Flange Sections. The recent one in the series was organized at Dehradun on Thursday. Structurals are popularly being used worldwide in various constructions as they help in erecting lighter structures facilitating easier fabrication, lesser construction time, economical, safer and sturdy building and at the same time adding elegance to the design. SAIl's state-of-the-art new Universal section mills, backed by high quality steel production facilities at Durgapur Steel Plant and IISCO Steel Plant provide the cutting edge to SAIl’s structural sections.
ICICI Pru long-term Wealth Enhancement Fund NFO to get tax benefits
ICICI Prudential Asset Management Company has launched a 10 year close ended ElSS new funds offer (NFO), ICICI Prudential long Term Wealth Enhancement Fund. The NFO opened on December 22, 2017 and will close on March 21, 2018. The tenure of this fund is 10 years, but one can sell the units on the exchanges after the statutory lock-in period of 3 years. Investments in this NFO will be eligible for Section 80C tax savings benefits up to the maximum limit of Rs 1.5 lakh. The primary investment strategy here is buy and hold. For this, the fund managers will be opting for a top down and bottom up approach will be followed for stock selection. The top down approach helps identifying sectors while the bottom up approach will be used for stock selection. Following a similar strategy, in September 2009, the AMC has launched ICICI Prudential R.I.G.H.T (rewards of investing & generation of healthy tax savings) Fund with a 10-year lock-in period. The Scheme has delivered returns to the tune of 18.6 per cent in CAGR terms against 10.7 per cent benchmark Nifty 50 TRI. When investing for the long term returns are dependent on the growth potential of the stock and not on market conditions. Also, there is no need to look at timing the market as over the long term the investments made go through various market cycles, thereby making the most of the market opportunities presented at varying points in time. The other benefit of being invested for the long term is the investments get to enjoy the benefits of the structural reforms initiated by the Government and also the power of compounding comes in.