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