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Consumers vox populi Target medical expenses that may arise from a medical
condition that is definitely too big for your pocket 3
Dell fined for A health insurance package
defective laptop By Tensing Rodrigues* sufficient. This is critical at the early But perhaps the best part of a
O
stages of your career when you have health insurance package is some-
ne point that the read- lesser savings and more commitments. thing that has not been listed above
By Adv. Jatin Ramaiya ers have raised about my At a later stage, when your commit- and something that is not sold by any
last article is my cursory ments are far lower, and you have insurance company. You can give it to
T
he State Consumer Commission affirmed the judgement of reference to medical cover; some buffer built up, you may reduce yourself. It is made up of three compo-
the North Goa Consumer Forum, in which Dell International I had just said: Also cover the cover and eventually get rid of it. nents: healthy diet, sufficient physical
Services and its dealer from Panaji were jointly and severally probable medical expenses with an Fortunately, the cover is cheaper at activity and stress free life. The last
directed to refund Rs 50,000 along with 12 per cent interest appropriate health policy. I know that younger age. It becomes costlier as is the first. In fact, the first depends
from the date of purchase of the laptop till final payment and to pay was too casual. Let me elaborate on your age advances and rather too ex- on it. Stress is what makes most of us
to the complainant Premanand Naik, Quepem, Rs 25,000 as compen- that now. pensive once you cross the sixty and consume poison in the form excessive
sation and Rs 10,000 as litigation cost for deficiency in service. Naik, Actually I would suggest you spend something or other crops up in your the illness debilitates you to the extent sugars and fats, caffeine and alcohol.
said that he had purchased a Dell laptop, on August 6 2014 for Rs some time on constructing a health blood reports. of not being able to work and earn. In Stress is what destroys the ability of
50,000 from the authorized dealer of Dell. cover package suitable for you. Do not The second component of your insurance terms this is treated at par our system to break down and excrete
However, after taking the laptop home he found that it was not go for a ready package but health package should with death. But it is worse, because the unwanted and the harmful. And
working properly and the create one appropriate for be the daily allow- you are alive and have expenses of stress is not the same as overworking.
USB connection was not working at all. He con- you. It is a onetime exercise. ance type where you living and treating the illness. You Overwork makes you tired and you
tacted the dealer the very next day and was So do not hesitate to spend are paid a fixed sum need to be diagnosed of a critical ill- drop dead but it will not make you
told the problem would be fixed immediately. some time on it. per day during the pe- ness and survive the diagnosis for a sick. Stress is not being at peace with
However, even after eight-ten days nobody A good health pack- riod of your sickness, certain period of time; the policy lists one self. When your left brain drives
came to repair the laptop. Naik then personally age should cover four basic subject to a certain the critical illnesses covered, and does you in one direction and the right
went and complained in the office of the au- needs. The first is to meet number of days with not require submission of bills. Here brain in the other.
thorized dealer, after which one person came medical expenses during a no bills need to be sub- the cover should be calculated in the So simply listen to your inner voice.
but he was not at all competent and went back particular episode of sick- mitted. This takes care manner of a live cover, viz. what sum Call it conscience, call it God or call it
without repairing the laptop. Naik lodged another complaint again ness. This is the reimburse- of not only the medical of money you will require to get a reg- anything.
the personnel of the dealer came, opened the laptop and fitted some- ment type, popularly called expenses not covered ular income sufficient to sustain you, All of us have an inner voice that
thing. But after that the laptop broke down completely and was not mediclaim. by the reimburse- to meet your expenses for medication tells us what is right; if we simply fol-
working at all. There was also lot of external damage to the laptop. A minimum period of hospitaliza- ment type policy but also provides for and care and to sustain your depend- low it there is no stress.
Naik then handed over the laptop in September 2014 to the dealer tion, usually 24 hours, is a precondi- the general expenses you may have ents if any. One simple thumb rule: Is this action
and till the date the laptop was in the possession of the dealer who tion for making a claim and submission to incur during the period. Moreover Here again, the same principle of going to benefit me alone or is it go-
failed to replace it even after repeated reminders. Naik then ad- of bills is mandatory. How much cover because you may be actually losing on need basis applies; take this cover ing to be good to others as well. If it is
dressed a notice dated January 14 2015 to the dealer and manufac- should you buy of this type? Obvious- income during this period it simply only to the extent that you actually going to be good to others as well, you
turer to replace the laptop within 15 days from receipt of the same, ly you will not seek reimbursement for makes it easy for you to tide over the need it. Since it likely to be a big sum have taken a step towards a stress free
which notice was received but not complied with. small expenses. But taking a big cover temporary financial distress. All that I it will puncture your wallet consider- life and then it becomes a habit. That
The District Forum allowed the complaint as the dealer did not costs too much. So you need to strike have said concerning the size of cover ably. will be your best part of the health
filed any written version or defense. Whilst assailing the judgement, a balance. with respect to your age in the case The fourth and the last component insurance package.
passed by the District Forum, Dell International said that there is no Target medical expenses that may of reimbursement type cover applies of your health package is a personal
record of the notice of the complaint served on itself and therefore arise from a medical condition that is here as well. accident policy. Here we are paid a
the order definitely too big for your pocket- a The third is the critical illness certain sum of money depending upon *The author is an investment
requires to be set aside and the matter remanded back to the Forum major surgery that calls for spend- cover. This is for the rare possibil- the severity of the injury. The pay- consultant. Readers can send
for fresh adjudication. This argument was negated by the Bench ing the best part of your savings. So ity that you fall critically ill. What we ment may sometimes take the form of their comments and queries to
members who vide post office record pointed out that the notice may be an individual cover of about mean by critically is essentially the daily allowance and again no bills are investment.ideas.shop@gmail.
and copy of the complaint was delivered on 29 April 2015. The im- Rs 5 lakhs to Rs 7 lakhs should be fact that this is not temporary and that needed. com
pugned order directs both the OPs jointly and severally to refund the
amount alongwith interest and pay compensation and costs. The OP
E
the laptop was purchased it was lectrical goods maker Havells India re- ing and extensive distribution expansion, he
not working and the same could Key Indicators Latest cently said that it is acquiring the con- said. Now, they are at the cusp of utilising the
not be repaired and therefore sumer durables division of Lloyd Electric & strength of the brand and the product catego-
it was given to OP No. 2 where
BSE Sensex 28,468.75 Engineering for Rs 1,600 crore on a debt- and ry. Lloyd already has a volume market share
it still lies. The OP No. 2 did not Nifty 8,821.70 cash-free basis. In dollar terms the buy-out will of approximate 12-13 percent (largely driven
deny anything before the forum Re/ US $ 67.12 be costing US $231 million. by air conditioners) and is among the top three
and is not denying anything The deal will give Havells a foothold in the players.
even now in this appeal. Rs/ UK Pound 83.38 competitive air conditioners segment, bringing Havells earned 21 percent of its revenue
it in direct competition with large players like from the electrical consumer goods segment
Samsung, LG and Voltas. Havells is in electrical for the financial year 2015-16, according to a
fans and switches manufacturing. presentation on the companys website. Fast
farm produce prices The acquisition will be financed through
a mix of internal accruals and debt, Amit Rai
investor presentation.
Llyods consumer durables division, which
moving electrical goods contribute 25 percent
to its total operating margin.
Gupta, chairman and managing director of makes air conditioners, refrigerators and wash- Nearly 40 percent of its revenue comes
Vegetables Retail rates at Goa State Havells India, said. After the divestment of ing machines, reported a revenue of Rs 1,384.2 from cables, 24 percent from switchgears and
Horticulture Corporation Ltd outlets (Rs per kg) Sylvania, we have a fairly healthy cash posi-
tion on the balance sheet. We will augment
crore and Rs 105.6 crore in earnings before
interest and tax for 2015-16. Based on its run
15 percent from lighting fixtures. The com-
pany has a 15 percent market share in the fans
h
hLadyfinger 44.70 h
hCauliflower (piece) 17.00 that with a certain degree of debt. We are rate and past performance, Lloyds revenue for segment, 9 percent in water heaters and 2-3
actually yet to finalise the exact quantum, financial year 2016-17 is estimated at around percent in other electrical consumer goods.
h
hCabbage 8.80 h
hChilly 28.70 but it could be Rs 500-700 crore of debt and Rs 1,850 crore with a projected EBITDA of Rs Havells revenue for the nine months ended
the balance through our internal cash accru- 110 crore, Havells said in a statement. December 31, 2016 stood at Rs 4,425 crore
h
hCluster Beans 17.80 h
hOnion 15.00 als. We will not be requiring any fresh equity Lloyds operating margins are in single dig- and earned Rs 425.4 crore in profit after tax
and, thereby, no dilution during this process, its as compared to Havells... The business has before exceptions.
h
hFrench Beans 35.00 h
hPotato 15.20 he said. Havells cash and bank balance stood the ability to get into double-digit margins, The company expects the transaction to be
at Rs 1,591 crore in the three months ended Gupta said. Over the last few years, Lloyd has completed in the next eight weeks subject to
h
hCarrot 15.60 h
hTomato 17.90 December 2016, the company had said in its grown quite aggressively through brand build- statutory due diligence. Bloomberg
*Rate as on Feb 18 2017
investors guide
SECTOR WATCH scrip tip
Underlying tone bullish
Improved outlook Racing ahead
A
s of now markets are looking very good.
R
For the first time in the history of the stock eliance Defence (RDEL) posted second these vessels visit Singapore or Japan for such
T BUY
markets since reforms, domestic inflows by he pressure in the pharma- consecutive quarter of growth, indicating works. These orders indicate a ray of optimism
mutual fund and insurance companies are deci- ceutical sector is finally bot- better execution of the existing order book. earlier pinned on the Indian defence sector. The
sively more than FIIs and they have become sort toming out but one shouldbe The company secured a contract of Rs 916 crore company has also submitted bids for other two
Target Price
of decisive factor in the market. Along with that, company-specific while investing. with the ministry of defence (MoD) for design marquee projects, viz. two landing platform
` 68
FIIs that were sellers post demonetisation have Pharma sectors have been circum- and construction of 14 fast patrol vessels for docks (LPDs) and eight anti-submarine warfare
Current Price
become buyers again. So, liquidity flow in the spect of late followingUS President Indian Coast Guard. It has also signed a master shallow water crafts for the Indian Navy. RDEL
` 59.25
market is very strong. India is poised to grow at Donald Trumps Buy American, Hire ship repair agreement (MSRA) with the US Navy is focused on stabilising and internal restructur-
7.5 per cent even at conservative or consensus American inauguration pledge and for undertaking servicing and repairing works ing of its operations. The company is a frontrun-
Reliance Defence
estimate which again is the best in the world. So, continuing protectionist rhetoric, in- for the vessels of the seventh fleet. Currently, ner for defence orders. ICICI Direct
macro factors are very positive, Budget has been cluding proposals to introduce curbs
good at least on highly skilled foreign workers. If
from fiscal pru-
dence point of weekly
you look at it, the stocks have under-
performed and for obvious reasons.
Focused on R&D
market
A
view which is There have been headwinds in the tul is a chemical conglomerate com- industry faced significant headwinds in 2015
more impor- US markets in terms of consolida- pany serving about 5700 customers due to factors such as strong dollar, slow-
tant for a large outlook tion of distributors, etc and pricing belonging to 31 industries across the ing emerging economies, malaise in Brazil, BUY
investors. Also world. With depth in science and technology, stagnation in Europe and Japan and cyclical
Target Price
people are now
looking forward to maybe this year Nifty will Pharmaceuticals the company manages almost all unit pro-
cesses and unit operations to manufacture
downturn in the agricultural sector. In addi-
tion to having to operate in an unfavorable
` 2500
Current Price
end with 8 per cent growth in earnings which is about 1380 products and formulations and economic environment, many chemicals
not such a strong growth after four years of lack pressure in the generics market and has state-of-the-art facilities and processes companies also found themselves the target ` 2215.00
lustre performance. However two things are hap- also most of the companies have to ensure safety and treatment of gaseous, of activist investor campaigns last year. Dy- Atul Ltd
pening. One people are getting used to growth had issue with US FDA as far as liquid and solid pollutants. The chemicals namic Levels
at a new normal which maybe lower. Five years their various plant inspections are
ago typically you would look for 25-30 percent concerned. As far as the competi-
growth stocks, I think in a year or two you will
be happy with or satisfied with 15-20 percent or
tion or rather the pricing pressure
on generics is concerned, things are
Value-added player
P
maybe 12-15 percent growth stocks as well. Also not as bad as what it was maybe one arag Milk Foods latest revenue was consumers, disposable income, etc. The com-
interest rate is coming down. If the fixed income quarter ago. As far as US FDA inspec- much lower than expected. The company pany is present in premium product and has BUY
instruments cant give you good returns then the tions are concerned, it is likely that derives its business from four segments- the highest presence in value added segment.
greater allocation will go to equity assets. So, over a period of time, issues will get milk products, fresh milk, skimmed milk pow- Demonization and high milk price has re- Target Price
equities are seeing very strong inflow of money resolved. On future earnings most of der and others. Milk products are the greatest sulted in subdued quarter but with improve- ` 264
on one hand and on the other hand macro funda- the companies look very reasonably contributor to sales comprising 66 per cent of ment in demand and revival of procurement Current Price
mentals are improving for sure. So, the underly- valued which implies opportunity to revenues. Overall the outlook is positive on price of milk, the company is expected to see ` 210.80
ing tone is bullish. investors. the dairy sector with shift from unorganized growth. Profit margins are likely to stabilize Parag Milk Foods
to organized sector, increasing demand from in around six months. KR Choksey