HDFC Standard Life has decided to roll out health savings plan next fiscal.

From health insurance sector, the private life insurer targets a premium income of Rs 50 crore by the end of next fiscal.

Moreover, the company is eyeing a premium income of Rs 20 crore during the existing fiscal.

SPML Technologies, a group company of Subhash Projects & Marketing Ltd (SPML), on Monday announced the completion of first phase of its automated anytime payment (ATP) kiosks in the state. Through this facility, the electricity consumers will now be able to pay their electricity bills anytime with multiple payment options such as cash, cheque, demand draft and credit or debit card. The company is providing this service under build-own-operate-maintain (BOOM) model.

After merger, every 16 shares in RPL will convert to one in RIL

The Reliance Industries Ltd (RIL)-Reliance Petroleum Limited (RPL) merger is seen by Dalal Street as mostly win-win for all stakeholders.

Though both stocks ended the day down, experts see the deal as beneficial for the companies' shareholders in the near term.

Early on Monday, the RIL board approved a swap ratio of 16:1 for the merger. This means, after approval of the amalgamation by the court, every 16 shares in RPL will get converted into one RIL share.

A new outlet promoting Khadi, aims to make the fabric more popular, especially among the youth

Khadi Gramodyog Sahkari Bhandar Ltd, one of the pioneers of Khadi movement in Gujarat, has been promoting the fabric for the last 54 years. The organisation has now come up with its new outlet and aims to make khadi and gramodyog products more popular especially, among the youth in the state.

The merger of Reliance Industries (RIL) and Reliance Petroleum (RPL) is likely to be earnings per share (EPS) accretive for RIL shareholders by 50 to 150 basis points, analysts have said.

The swap ratio of 1:16 represents a 3.5% premium to RPL’s share price on Friday (Rs 76.20 per share).

RIL bought back Chevron’s stake of 5% in RPL @Rs 60 —- the same price at which it was sold by RIL in 2007, giving promoters complete control of India’s largest private company —- not that Mukesh Ambani was particularly seeking it.

The swap ratio was more or less in line with street expectations, though it tilts a touch towards RPL shareholders.

Jain Irrigation Systems, the Jalgaon-based irrigation systems, pipes, food processing and agri products player, is planning to raise $45 million from the International Finance Corporation (IFC), said its managing director Anil Jain.

The company will receive a $30-million loan in two tranches for the period of eight years. It will also get $15 million from Washington-based IFC, which will pick a 2.69% of Jain's equity in the company through a preferential allotment.

The latest round of fund-raising is in addition to the $30-million debt the company raised from IFC in the last couple of years.