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BSE-Ebix launches JV to set up insurance distribution platform

India’s oldest stock exchange Bombay Stock Exchange signed a memorandum of understanding with the world’s largest insurance exchange Ebix to launch a joint venture company dedicated to set up a pioneering insurance distribution network in India.
 
BSE Investments Limited (BIL) is a wholly-owned subsidiary of BSE, while Ebix Fincorp Exchange is a wholly-owned subsidiary of Ebix will launch the new venture branded as BSE-Ebix to set up an insurance distribution exchange platform. The joint venture enterprise will allow distribution of outlets, stock brokers, wealth management advisors and financial institutions across life and non-life product segments.
 
On Thursday, BSE Limited was trading at Rs. 987.95 per share on NSE at 1515 hours IST. The stock witnessed a traded volume of 55,490 shares and a traded value of Rs. 545.89 lakh on NSE. BSE Limited that made its stock market debut earlier this year had hit its all-time high of Rs. 1,200 per share on February 3, 2017 and 52-week low of Rs. 886.50 per share on March 3, 2017 on NSE, respectively.

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L&T Construction bags largest solar plant project of Saudi Arabia

Apurva Joshi / Article rating: 3.4

The renewables arm of Larsen & Toubro Limited’s power transmission & distribution business has secured a turnkey EPC contract, from the consortium of ACWA Power and Water & Electricity Holding Company [a subsidiary of Public Investments Fund of Saudi Arabia (PIF)], for Sudair Solar PV Project of 1.5 GW capacity. This project is considered the largest solar plant in Saudi Arabia and is also, one of the largest such plants in the world. 

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