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Monday, April 26, 2010

LIC's Jeevan Anand ensures cover until death of the policyholder:Illustration, benefits before & after Life

LIC's Jeevan Anand ensures cover until death of the policyholder:Illustration, benefits before & after Life


Life Insurance, in its core essence, implies ensuring financial security to one’s loved ones, even after one is gone. And this is why, traditional term plans, that ensure pure insurance at minimal costs, are recommended more than any other schemes available in the country today
It was probably to address this issue of ensuring adequate cover to life and at the same time ensuring decent returns to the policyholder that LIC launched its Jeevan Anand scheme in 2002.


With a blend of endowment and whole-life cover, Jeevan Anand caught our attention for its impressive feature of providing cover to life not only during the premium paying term, but even that, until the death of the policyholder.
What was even more impressive about the scheme was the fact that the amount of life cover (sum assured) is payable twice. One, at the end of the premium paying term to the policyholder, and thereafter, upon the death of the policyholder to the nominees.



The illustration briefly explains the features of this plan


The illustration briefly explains the features of this plan... Saagar, aged 30 years, subscribes to Jeevan Anand for a period of 25 years for a sum assured of Rs 10 lakh.

He will thus pay premiums on this policy till he turns 55. At the end of the policy term, when Saagar is 55-year old, he will get Rs 10 lakh, i.e. the sum assured, by the policy, and the amount of accrued bonuses, accumulated over 25 years.

Now, in case Saagar dies at the age of 75, his nominees will once again get the sum assured of Rs 10 lakh from LIC. But this is not the only feature that we like about Jeevan Anand.

If this scheme is paying twice the sum assured, the same is at a cost in terms of high premiums paid by the policy holder per annum. What makes this scheme feasible for the investor is the rate of annual bonuses declared by LIC for this scheme every year, which somewhat compensates for the high premiums paid during the policy term.

During the past three consecutive years, the bonus rates declared by LIC for Jeevan Anand have been Rs 34, Rs 37, Rs 41 and Rs 45 per Rs 1,000 sum assured for policy terms of 10, 15, 20 and 25 years, respectively.

Applying these rates to the above illustration, and assuming that LIC will continue to pay similar bonuses for the coming 25 years, Saagar will receive Rs 11.25 lakh as bonus at the end of 25 years along with sum assured of Rs 10 lakh taking the total receipts to Rs 21.25 lakh.

After adjusting for the premiums paid by Saagar, which is approximately Rs 41,206 per annum, or Rs 10.3 lakh during the entire term of 25 years, the net survival benefits come down to Rs 10.95 lakh. So does Jeevan Anand score over the combination of a pure term plan with PPF?

Survival benefit

In the above illustration, Saagar invests Rs 41,206 per annum in Jeevan Anand. If instead, the same amount is used to buy a term plan, say LIC’s Anmol Jeevan for an annual premium of Rs 3,821 for a sum assured of Rs 10 lakh and the balance Rs 37,385 is invested in Public Provident Fund (PPF) for 25 years, the net gains at the end of 25 years shall be as follows... Being a term plan, Anmol Jeevan has ensured financial security to Saagar’s family for Rs 10 lakh for 25 years.

However, as Saagar has survived the term plan, no amount shall be payable by LIC. The total premiums paid by him in this case are less than Rs 1 lakh as against Rs 10.3 lakh in case of Jeevan Anand.

For the amount invested in PPF, assuming an interest rate of 8%, compounded annually, for 25 years, the total receipts with Saagar at the end of 25 years, shall be Rs 29.52 lakh against Rs 21.25 lakh in case of Jeevan Anand.

Death benefit:

But now, if we consider the death benefit of additional Rs 10 lakh, receivable to the nominees of the policyholder, Jeevan Anand moves a notch ahead of our combi-plan as its net receipts will now be Rs 10.95 lakh + Rs 10 lakh = Rs 20.95 lakh.

Moreover, as far as the policyholder is concerned, there will always be a psychological contentment that his nominees will be taken care off after he is gone despite his policy having matured.

Jeevan Anand thus definitely scores on this front. However, in case of the death of the policyholder during the policy term, i.e. in the above illustration, if Saagar were to die during the 25 year policy term, his nominees will receive the sum assured of Rs 10 lakh and the amount of accrued bonuses and the policy shall come to an end.

There will be no other receipts from LIC in this case and thus in case of such an eventuality, the combi-plan once again scores over Jeevan Anand.


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Tarapur Transformers Limited IPO details (Price band:Rs. 65 - Rs. 75),Company Promoters,Company Financials.Issue Detail,Grading / Rating

Tarapur Transformers Limited IPO details (Price band:Rs. 65 - Rs. 75),Company Promoters,Company Financials.Issue Detail,Grading / Rating


Tarapur Transformers Limited Logo

Incorporated in 1988, Tarapur Transformers Limited is in the business of manufacturing, rehabilitation, up-gradation, and refurbishment of transformers ranging from power & distribution transformer, Rectifier Transformer, Furnace Duty Transformer, Electric Locomotive Transformer, Electric Traction substation Transformer, Dry type transformer, Potential Transformer, Special purpose transformers.

Tarapur Transformers manufacture Transformers up to 220 KV class, having an installed capacity of manufacturing of 1839.40 MVA & repairing of 1800 MVA per annum.

Tarapur currently operates through three manufacturing units located at MIDC, Boisar, Tarapur Industrial Area village Pali, At & PO – Posheri Taluka – Wada and L/25/5, GIDC Industrial Estate, Por- Ramnagamdi, Vadodara. Company's Boisar unit mostly undertakes the repairing & refurbishment, rehabilitation & upgradation of transformers with the installed capacity of 600 MVA for manufacturing and 1200 MVA for repairing of transformers per annum. Tarapur's Pali unit is equipped with modern state of art infrastructure facilities & technology, which can undertake the manufacturing of 1200 MVA for manufacturing and 600 MVA for repairing of transformers per annum and Vadodara unit is engaged in manufacturing of Current Transformers Potential Transformer normally called as CTPT and Distribution Transformers ranging from 10 KVa/11Kv to 100KVa/11Kv with installed capacity of 39.40 MVA per annum.

Company Promoters:

The Promoters of company's are:

1. Suresh Kumar Choudhary aged 51 years one of the founder promoters of M/s Bilpower Limited.
2. Naresh Kumar Choudhary aged 50 years, is a Non Executive Non Independent Director of the company.
3. Rajendra Kumar Choudhary aged 49 years, Director of the company.

Company Financials:

ParticularsFor the year/period ended (Rs. in Lakhs)
31-Aug-0931-Mar-0931-Mar-0831-Mar-0731-Mar-0631-Mar-05
Total Income1,208.222,401.161,068.34302.98134.05197.59
Profit After Tax (PAT)76.20215.60151.413.8011.60(1.60)

Objects of the Issue:

The objects of the Issue are:
1. Expansion and Modernization of our Pali Unit;
2. To part-finance incremental working capital requirements;
3. To part-finance the acquisition of business;
4. To part –finance the marketing and corporate branding expenses;
5. To part –finance the general corporate Expenses;
6. To meet the expenses of the Issue.

Issue Detail:

»» Issue Open: Apr 26, 2010 - Apr 28, 2010
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 8,500,000 Equity Shares of Rs. 10
»» Issue Size: Rs. 55.25 - 63.75 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 65 - Rs. 75 Per Equity Share
»» Market Lot: 90 Shares
»» Minimum Order Quantity: 90 Shares
»» Listing At: BSE, NSE

Tarapur Transformers Ltd IPO Grading / Rating

CRISIL has assigned an IPO Grade 1 to Tarapur Transformers Ltd IPO. This means as per CRISIL company has 'Poor Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.


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Saturday, April 24, 2010

Nitesh Estates Limited IPO details (Price band:Rs. 54 - Rs. 56),Company Promoters,Company Financials.Issue Detail,Grading / Rating

Nitesh Estates Limited Logo

Incorporated in 2004, Nitesh Estates Limited is in the business of real estate development, primarily residential projects in Bengaluru. They are also developing a hospitality project in Bengaluru and a residential and an office project in Kochi. Nitesh Estates is in the process of diversifying into the development of shopping-malls and are expanding geographic reach to Chennai and Goa. Company's residential projects include multi-unit apartment buildings targeted at high-income and middle-income customers. Nitesh Estates is also developing its first hospitality project, the first ‘Ritz-Carlton’ brand hotel in India, on Residency Road in the central business district of Bengaluru.

Nitesh Estates has developed three residential projects totalling 0.55 million sq. ft. of Saleable Area and Developable Area. Company is developing 5 residential, 1 hospitality and 1 office projects. Company also has 3 residential, 1 shopping-mall and 1 mixed-use real estate projects inline for future development.

Completed Projects of the Nitesh Estates are:

1. Nitesh Long Island, completed in 2009, a built-to-suit premium corporate residential project near Bellary Road, Bengaluru;
2. Nitesh Wimbledon Park, completed in 2007, a premium residential project, located on Race Course Road, Bengaluru; and
3. Nitesh Mayfair, completed in 2007, a premium residential project, located on Lavelle Road, Bengaluru.

Ongoing Projects are Nitesh Hyde Park, located at Bannerghatta Road, Nitesh Forest Hills in Whitefield, Nitesh Flushing Meadows in Whitefield, Nitesh Columbus Square at off Bellary Road, Nitesh Wimbledon Gardens (Residential)at Airport-Seaport road in Kochi, Nitesh Wimbledon Gardens (Commercial), located at Airport-Seaport road in Kochi and the 'Ritz-Carlton' brand hotel with 281 keys, located at Residency Road in the central business district of Bengaluru.

Company Promoters:

The individual promoters of the Company are:

1. Mr. Nitesh Shetty; and
2. Ms. Pushpalatha V. Shetty.

The corporate promoter of the Company is Nitesh Industries Private Limited.

Company Financials:

ParticularsFor the year/period ended (Rs. in Million)
30-Sep-0931-Mar-0931-Mar-0831-Mar-0731-Mar-06
Total Income458.47868.89688.73240.15223.59
Profit After Tax (PAT)60.8028.539.7428.7313.78

Objects of the Issue:

The objects of the Issue are to:

1. Acquire joint development rights of our Company;
2. Fund our existing Subsidiaries and the Associate company, for repayment/prepayment of loans, redemption of debentures, finance Ongoing Projects and finance the acquisition of joint development rights;
3. Repay certain loans of our Company; and
4. Fund the expenditure for general corporate purposes.

Issue Detail:

»» Issue Open: Apr 23, 2010 - Apr 27, 2010
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: Equity Shares of Rs. 10
»» Issue Size: Rs. 450.00 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 54 - Rs. 56 Per Equity Share
»» Market Lot: 100 Shares
»» Minimum Order Quantity: 100 Shares
»» Listing At: BSE, NSE

Nitesh Estates Ltd IPO Grading / Rating

CRISIL has assigned an IPO Grade 2 to Nitesh Estates Ltd IPO. This means as per CRISIL company has 'below Average Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals



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