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High Court approves merger of two units with Godrej Consumer
FMCG major Godrej Consumer Products today said the Bombay High Court has given its approval for the merger of the company"s two group firms — Godrej ConsumerBiz and Godrej Hygiene Care — with itself.

IBM targets Gujarat SMEs for SMSR, Cognos Express
Even as the small and medium enterprises (SMEs) in Gujarat look to increase their technology adaptability, IBM has forayed with its market specific products in hardware, software and security services, among other things. With an increasing need for data storage and security among SMEs, IBM is expanding its footprint in the state by offering products like Scalable Modular Server Rooms (SMSR) and Cognos Express, apart from other services.

News of the day

McLeod Russel ends negative, down 1%
The stock erased all its gains and slipped to a low of Rs 256. The scrip finally ended at Rs 259, down 1% from its previous close. The counter clocked volumes of 344,566 shares as compared to the two-week daily average traded volumes of 145,286 shares on the BSE.
Small Business

IndiaFirst to start ops by Dec-end, gets nod for 3 products

IndiaFirst Life Insurance has received regulatory approval to launch three products and expects to commence its operations by the month-end, a senior official said. - BoB, Andhra Bank risk JV may kick off in Dec - Life insurance biz grows 12.8% - Over 60 cos await Sebi nod for share sale worth Rs 50,000 cr - Non-life premium collection up, courtesy rising auto sales - Death claims up 21% in April-June quarter - Life insurance industry death claims payout rises 21% in Q1 IndiaFirst Life Insurance is a three-way joint venture between two public-sector lenders--Bank of Baroda and Andhra Bank, and the UK-based company Legal and General (L&G). "We have received approval for all the three ULIP products--savings, children and retirement plans, applied to IRDA. We are now planning to begin our operations by end-this month," IndiaFirst Life Insurance Chief Executive Officer P Nandagopal told PTI here today. The three products are--IndiaFirst Savings Plan, IndiaFirst Education plan and IndiaFirst Future plan, he said. The latest entrant to the life insurance market in the country, IndiaFirst, had received R3 licence (the final approval required for starting an insurance company) from IRDA last month. The company currently has a capital base of Rs 200 crore and plans to increase it to Rs 2,500 crore over 10 years. The joint venture company has 44 per cent stake from the Bank of Baroda, 30 per cent from Andhra Bank and 26 per cent from Legal and General.


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