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Ridley marathon to India A global plastic event in India Smart controls for cooling large multi-zone spaces ... Realising double digit growth in Tamil Nadu IFCI to raise NCDs upto Rs 2000 crore Flexible labour laws… Investor friendly Japan OBO Bettermann for better lightning protection An aerospace-defence cluster in Tamil Nadu… TII’s single largest investment at Thiruthani ALL to launch electric busses Applauding enterprise... TCS’ revenues cross Rs 100,000 crore Carrefour’s quick exit LVB gears to become a financial supermarket Housing Innovation Challenge, 2015 European crisis is a global crisis! Celebrating 180 years of relevance Chennai to get a roundabout Metro Veritas Finance- financing the unfinanced Steel loses its sheen Industry-well poised to invest on expansion Focus on self-certification and third party inspection Need to focus on ease of doing business... Realty sector takes a break... Business Breif World labour laws at a glance Durga - India’s largest blast furnace; now operational Dynamic e-commerce scenario Chennai Port is at last decongested! Well-refined – RIL’s refinery margins zoom BRICS development bank People Flow Day- Safety More gensets and diesel engines from TAFE - Schwing Stetter India joins hands with US-based Gomaco Automotive Vision Plan II... Connecting the unconnected Economic, business and social sustainability TII-challenging year with flat growth Three more leather clusters… Hero Motocorp - smooth ride Brand leaders come forward... CUB: towards card-less withdrawal Strategy war escalates between Hero and Honda Blue Star plans a new plant in south On the ‘milky’ way ECGC expands operations Digital retail transactions stabilise at higher level… Climate change may change the way businesses work... Time to fast-pace the logistics sector Changing dynamics in human resource management Business Briefs WABCO’s second Chennai plant Research needs more funding Secured NCDs from Shriram City Chennai will soon get its World Trade Centre AirAsia India infuses funds to fight out competition Tata Steel commence operations at Kalinganagar Downsizing spree... Airlines wage price war Adding Zest to Scooty Nigeria comes nearer STFC raises money Striking cords for 25 years… ALL – truck industry is recovering from degrowth TN budget pragmatic and moderate on fiscal deficit Sun Edison launches solar pumps TOP 10 CEO Compensation Rating of states to be released soon Curbing steel imports will hurt small business... Apple maps – finding its way Innovation that helped Chennai port SumInfra- corridor based development... Scoot offers just Rs.13,500 to ANZ... Murugappa- a year of consolidation Pharma market dozes Placing the right shoe forward... ALL-two launches in a row Techies trip to India Chola MS launches motor app Four daughters and a proud father Holiday Inn opens in OMR Chennai Gem of social service... Celebration time at MS Chola Indian Bank – global businesses crosses Rs 3 lakh crore... Make way for the new and dynamic railways Nothing to hide... When Centre visits the state TiE applauds innovative entrepreneurs TVS Logistics – another acquisition to sharpen the business model An American alliance in the chemical industry? Waste, a gold mine Creating Tamil Nadu Banana brand Indigo stays leader with 40 per cent share Bridging the skill deficit in pharma industry Backpack laboratory Purdue and IIT-M sign the dotted line The new look- 4s Verna Inclusive and forward moving... Economic issues take a back seat at G20 summit Illicit markets a concern to growing economy Big-ticket investments march towards Punjab ISRO's 100th mission Auto test tracks launched at GARC Oragadam campus Towards peace of mind Chola MS net crosses 100 crores Is Indian telecom industry heading for a monopoly? Hyundai excites again Reality bytes
 
Business Breif

ALL-sales distributed across the nation

IN A RATHER depressing market conditions, Ashok Leyland has gained a market share of 3 per cent even while its target segment, the medium and heavy commercial segment, suffered a sales drop by 25 per cent. “New products, brand establishment and better network coverage have helped us sustain growth,” pointed Vinod K Dasari, Managing Director. With a drop in the traditional MHV, newer products Dost and the ICV segments helped maintain market share. Since its launch, Dost has built a 19 per cent market share with sales of about 35,000 vehicles.

Though the market during the first half of the year is expected to be 10 per cent less than last year, it is expected to go on growth mode from the second half. ALL plans to tap the potential with new product launches and expanded network connections. “Our network grew by 26 per cent in two years and we have 450 full service centers pan India,” pointed Dasari. Apart from the Ashok Leyland brand, brand Dhoni has also added to the sales mileage. What was once a 60-65 per cent sale mainly from southern markets three years ago, it has shifted gear to better distributed sales across the country.

UII’s premium and profits increase

POSTING AN increase in premium income by 13 per cent and profit by 36 per cent, Chennai based United India Insurance Company Ltd had managed to improve the claims ratio to 84.61 per cent. Better underwriting practices and claims control measures deployed throughout the process have helped maintain the niche even during the current turbulent times. “Even after making a provision of Rs 431 crore for pension and gratuity liabilities, profits stood at Rs 527 crore and the premium income at Rs 9266 crore,” said Milind Kharat, Chairman cum Managing Director UIIC.  

The company plans to continue its focus on the retail, MSME and rural sectors. With the recent budget focusing on increasing insurance penetration, UII plans to expand its footprints across tier 4 and tier 5 cities by opening 530 micro offices and employing 25,000 insurance agents. The Rs 600 crore premium Tamil Nadu Chief Minister’s Comprehensive Health Insurance Scheme, rolled out last year covers 1.24 crore families across the state, has been valuable.

“UIICs net worth grew by 9 per cent and our investment income stood at Rs 1777.41 crore,” said S Surenther, Director and General Manager. The premium income was made up by: motor 36.58 per cent, health 28.52 per cent and fire 12.10 per cent.

Bosch sets up greenfield plant

SUBRAMANYA ULLAL, Managing Director, Bosch Electrical Drives India Private Ltd, said that the company expected the net sales to cross Rs 200 crore this year as against Rs 157 crore last year. The Chennai plant has moved from the rented facility at Guduvancherry to a greenfield site spread over 10 acres at Oragadam. Built at an investment of Rs 120 crore, the plant has capacity to manufacture 22 lakh window-lift motors, 700,000 wiper systems and 500,000 thermal systems to leading automobile manufacturers that include Maruti Suzuki, Hyundai, Renault Nissan, Mahindra and Mahindra and Volkswagen.

India’s auto electrical market is estimated at Rs 800 crore and Bosch has a market share of 20 per cent. In the employee strength of 260, women’s share is 90 per cent.

Manfred Baden, Chairman, Bosch Electrical Drives India Private Ltd., was hopeful that the automobile market would revive in the coming year. With India as  base, the company plans to foray into Russia and other emerging markets.

New India domestic premium crosses Rs 10,000 crore

NEW INDIA ASSURANCE has crossed the Rs 10,000 crore premium mark: with domestic premium income of Rs 10,038 crore and overseas’ of Rs 2467 crore. Profits increased from Rs 179.31 crore in 2011-12 to Rs 843.66 in 2012-13. To sustain the momentum and fuel growth, the company plans to introduce more products and focus on overseas markets. “In the current fiscal we will be focusing on Qatar, which is a big market. Canada will be a re-entry and also Myanmar. With our Indian market focus on rural arena, we plan to open more micro-offices in tier III and IV cities and also launch an online platform for motor and health policies,” said Chairman cum Managing Director, G Srinivasan. The company has set up a target of Rs 15,000 crore premium income for the current year.   

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