Latest News | IHCL Inks Brownfield Resort in Kandla Under Gateway Brand

Mumbai, Nov 28 (PTI) Indian Hotels Company (IHCL) on Thursday announced the signing of a 93-key brownfield resort in Kandla, Gujarat, under Gateway brand.

"Kandla, an important industrial hub and port city in Gujarat, is an emerging market with immense potential for both business and leisure travel. This signing aligns with our vision of entering new markets and expanding our presence in tier II and III cities across India. We are delighted to partner with Sanjay Poddar for this project," IHCL Executive Vice President, Real Estate and Development, Suma Venkatesh said in a statement.

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With the addition of this hotel, IHCL will have 25 hotels in Gujarat including 6 under development.

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AU SFB to distribute Bharti AXA Life Insurance's policies to its customers

* AU Small Finance Bank on Thursday said it will distribute private sector insurer Bharti AXA Life Insurance's policies to its customers.

The two entities have signed a bancassurance partnership under which the lender's customers will get life insurance and financial security solutions, as per a statement.

***** Union MF enters factor-based investing

* Union Mutual Fund on Thursday entered factor based with the launch of its new fund offer for 'Union Active Momentum Fund' that will invest in stocks showing momentum.

Factor-based investing is a relatively new concept in Indian markets, which are predominantly dominated by actively managed equity funds, according to a statement.

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Bank of India announces consumption fund

* Bank of India Mutual Fund on Thursday announced a consumption fund which will invest in the country's expanding family consumption basket.

The portfolio of the new fund, which will be open for subscriptions till December 13, focuses on industries, including retail, consumer durables, healthcare, and financial services, as per an official statement.

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