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