Chennai: With Indian tourists among the biggest spenders in Switzerland, the Swiss Tourism is pulling out all the stops to promote the land of mountains, glaciers and rivers to potential tourists.
A team of 22 officials from Switzerland Tourism is in Chennai to promote Switzerland as a destination of choice among the travel agents, who in turn will take the message to the potential travellers.
On an average, an Indian spends Swiss Franc 350, including on hotels and restaurants, while it was Swiss Franc 200 among other nationals, Ms Ritu Sharma, Deputy Director and Media Manager, India, Switzerland Tourism, which promotes Switzerland as a holiday and travel destination.
Switzerland continues to be a major attraction for Indians, especially with a number of films shot in that country. Last year, nearly 4.5 lakh Indians stayed overnight in Switzerland, which was nearly 100 per cent growth when compared with the previous year. This year, the target is to grow the overnight stay by Indians by nearly 20 per cent, she told newspersons.
Key markets
India, Brazil and China, and Gulf countries are the key markets that the Switzerland Government will focus this year. Reason, due to the Euro crisis, the Europeans may not spend too much while it is the Indians, Chinese, Brazilians and people in the Gulf who could afford to travel to Switzerland.
Tier II and III towns
Switzerland Tourism will undertake marketing activities this year ranging from customer reach out programmes and advertising campaigns to training programmes for travel agents in tier-II and tier-III cities. The marketing initiatives will focus on the fact that not only is Switzerland a perfect destination for family holidays and honeymooners but also for other segments such as senior holidays, gourmet holidays and adventure holidays, she said.
Year of water
The Switzerland Tourism has dedicated the year 2012 to the ‘year of water' to celebrate its famous glaciers, lakes and rivers. This campaign will create a perfect backdrop for Indian tourists, since Indians have long revered water as divine. In 2011, it was the year of ‘hiking,' which was not liked by Indians, she said.
MICE
Meetings, incentives, conferences and exhibitions will continue to be a major focus as Switzerland is becoming popular with small group of 100-200 people as well as large movements. For instance, Amway took 3,500 people to Switzerland in May, she said.
Success in my Habit
Wednesday, January 25, 2012
Asian Development Bank sets its annual investment plan for India at $2 bn till 2014
Asian Development Bank said it plans to investment about $2 billion every year in India's infrastructure space between 2012 and 2014 although the country demands much more than this.
ADB has kept its annual infrastructure financing for India unchanged as its faces fund constraints, its managing director general Rajat Nag said. The Manila-based institution had invested about $2 billion each in 2010 and 2011.
The country will need about $1 trillion investment during the 12th Five Year Plan (2012-2017).
"The size of our investment plan for India is not a reflection of the demand, neither it is a reflection of its performance. It is the supply constraint at our end which compels us to keep the annual plan unchanged at $2 billion," Nag said on Friday at an Indian Chamber of Commerce event in the city.
India is a founding member of ADB and its fifth largest shareholder.
ADB has kept its annual infrastructure financing for India unchanged as its faces fund constraints, its managing director general Rajat Nag said. The Manila-based institution had invested about $2 billion each in 2010 and 2011.
The country will need about $1 trillion investment during the 12th Five Year Plan (2012-2017).
"The size of our investment plan for India is not a reflection of the demand, neither it is a reflection of its performance. It is the supply constraint at our end which compels us to keep the annual plan unchanged at $2 billion," Nag said on Friday at an Indian Chamber of Commerce event in the city.
India is a founding member of ADB and its fifth largest shareholder.
Friday, January 20, 2012
McDonald's goes for costliest revamp to attract more adults
New Delhi: Fifteen years after it entered India, Big Mac is changing colours, literally. The world's largest fast-food chain is shedding its familiar red-and-yellow colours for more muted tones as it goes for its biggest and costliest revamp in the country, in line with its global strategy of attracting more adults.
The makeover also involves taking away the iconic mascot, Ronald McDonald, at least from some of its outlets in the country and beefing up its menu with options that are more likely to appeal to adults. The US-based burger-and-fries chain has already added McSpicy Chicken Burger and McFlurry desserts to its offerings in India.
The red-and-yellow company logo will be replaced by white across its 240 restaurants over the next three-four years and the decor will change from neon-yellow and bright-red interiors to pale colours.
"The change has already kicked off with one outlet each in New Delhi and Mumbai," said McDonald's India (North & East) MD and joint venture partner Vikram Bakshi. The company hopes to upgrade the consumer's experience, he said, without alienating its younger customers and raising prices.
Others are not so confident. "McDonald's core equity, at least in India, lies with kids, mostly in the sub-13-year age group. I am not sure if the move to bring in muted colours and decor would go well with this category of consumers," said Mahesh Chauhan, co-founder of advertising and marketing firm Salt Brand Solutions.
"It may be a good move for some other developed markets, but I am not sure how it will work for a market like India where organised food retail still remains very small." The makeover in India, part of the company's revamp in the Asia-Pacific Middle-East and Africa region, comes three-four years after the US and Europe.
"The designs will be different in different stores depending on their location but the common thread will be more soothing colours, contemporary designs and softer seating," said Bakshi. Ronald McDonald will disappear from locations where more adults visit the outlets, but will remain in restaurants where the footfalls of children are higher. Globally, McDonald's has been under pressure from nutritionists and activists to remove its clown mascot because it attracts mainly children.
According to the company, nearly half-a-million customers visit its restaurants in India every day. The revamp will cost at least 50% more per outlet, Bakshi said, but added that the company hopes to recover the additional investments through more volumes. The company is donning a new look at a time India is on its way to becoming a global hotspot for food retailers, with chains like Starbucks, Dunkin Donuts and Burger King planning to enter the country.
"Global firms like McDonald's would not take such calls too often, and this would require big investments. They would have anticipated competition which is expected to come in sooner than later," said Harminder Sahni, founder of retail consultancy Wazir Advisor.
The makeover also involves taking away the iconic mascot, Ronald McDonald, at least from some of its outlets in the country and beefing up its menu with options that are more likely to appeal to adults. The US-based burger-and-fries chain has already added McSpicy Chicken Burger and McFlurry desserts to its offerings in India.
The red-and-yellow company logo will be replaced by white across its 240 restaurants over the next three-four years and the decor will change from neon-yellow and bright-red interiors to pale colours.
"The change has already kicked off with one outlet each in New Delhi and Mumbai," said McDonald's India (North & East) MD and joint venture partner Vikram Bakshi. The company hopes to upgrade the consumer's experience, he said, without alienating its younger customers and raising prices.
Others are not so confident. "McDonald's core equity, at least in India, lies with kids, mostly in the sub-13-year age group. I am not sure if the move to bring in muted colours and decor would go well with this category of consumers," said Mahesh Chauhan, co-founder of advertising and marketing firm Salt Brand Solutions.
"It may be a good move for some other developed markets, but I am not sure how it will work for a market like India where organised food retail still remains very small." The makeover in India, part of the company's revamp in the Asia-Pacific Middle-East and Africa region, comes three-four years after the US and Europe.
"The designs will be different in different stores depending on their location but the common thread will be more soothing colours, contemporary designs and softer seating," said Bakshi. Ronald McDonald will disappear from locations where more adults visit the outlets, but will remain in restaurants where the footfalls of children are higher. Globally, McDonald's has been under pressure from nutritionists and activists to remove its clown mascot because it attracts mainly children.
According to the company, nearly half-a-million customers visit its restaurants in India every day. The revamp will cost at least 50% more per outlet, Bakshi said, but added that the company hopes to recover the additional investments through more volumes. The company is donning a new look at a time India is on its way to becoming a global hotspot for food retailers, with chains like Starbucks, Dunkin Donuts and Burger King planning to enter the country.
"Global firms like McDonald's would not take such calls too often, and this would require big investments. They would have anticipated competition which is expected to come in sooner than later," said Harminder Sahni, founder of retail consultancy Wazir Advisor.
NRI venture to invest Rs 500 cr in Kerala
Kozhikode: The Dubai-based Fathima Healthcare Group has launched a new venture, NRI Project Management India Ltd (NRI-PMI), and has drawn up plans to invest around Rs 500 crore in various projects here in the first phase.
The projects include a world trade centre, convention centres, star hotels, supermarkets and amusement parks. The new venture will mainly focus on the welfare of the non-resident Indians (NRIs) and their families, according to Dr K.P. Hussain, Chairman, Fathima Healthcare Group.
He said here on Wednesday that funds would be raised through shares from NRIs and invested in profitable projects. The company will identify suitable projects in other States in India as well for making investments and NRIs will be given preference in employment according to their skills or through proper training at NRI-PMI-funded projects.
The company will have branches all over India with regional head-offices. Further, it was proposed to establish representative offices all over the world with the support of related authorities, Dr Hussain said.
The NRIs can either propose the projects or take up new or existing projects of the Union or State governments. The projects will create employment opportunities for NRIs who return from abroad after losing jobs or for any other genuine reason.
Along with the NRI projects, the group is floating a new venture, styled, Corn Corner Foods India Private Ltd. To begin with, sweet corn machines will be established in different parts of Kozhikode city as also in its suburbs, offering employment opportunities to around 100 people.
The group's other initiative, Dr K.P. Hussain Charitable Trust, is planning to install dialysis units in all district hospitals in Kerala at an estimated cost of Rs 5.5 crore. The trust has been extending scholarships to students from poor sections of the society and assistance for the treatment of poor patients.
Fathima Healthcare Group has spread its activities to Qatar, Oman, Bahrain and Saudi Arabia and has also firmed up its presence in education, media and hospitality fields.
The projects include a world trade centre, convention centres, star hotels, supermarkets and amusement parks. The new venture will mainly focus on the welfare of the non-resident Indians (NRIs) and their families, according to Dr K.P. Hussain, Chairman, Fathima Healthcare Group.
He said here on Wednesday that funds would be raised through shares from NRIs and invested in profitable projects. The company will identify suitable projects in other States in India as well for making investments and NRIs will be given preference in employment according to their skills or through proper training at NRI-PMI-funded projects.
The company will have branches all over India with regional head-offices. Further, it was proposed to establish representative offices all over the world with the support of related authorities, Dr Hussain said.
The NRIs can either propose the projects or take up new or existing projects of the Union or State governments. The projects will create employment opportunities for NRIs who return from abroad after losing jobs or for any other genuine reason.
Along with the NRI projects, the group is floating a new venture, styled, Corn Corner Foods India Private Ltd. To begin with, sweet corn machines will be established in different parts of Kozhikode city as also in its suburbs, offering employment opportunities to around 100 people.
The group's other initiative, Dr K.P. Hussain Charitable Trust, is planning to install dialysis units in all district hospitals in Kerala at an estimated cost of Rs 5.5 crore. The trust has been extending scholarships to students from poor sections of the society and assistance for the treatment of poor patients.
Fathima Healthcare Group has spread its activities to Qatar, Oman, Bahrain and Saudi Arabia and has also firmed up its presence in education, media and hospitality fields.
Nippon Life picks 26% in Reliance AMC for Rs 1,450 cr
Mumbai: Japanese life insurance major, Nippon Life Insurance, on Thursday signed a memorandum of understanding (MoU) to acquire a 26 per cent stake in Reliance Capital Asset Management (RCAM) for Rs 1,450 crore. This is the largest foreign direct investment in the Indian mutual fund sector. RCAM is part of the financial services arm of Reliance Capital, an Anil Dhirubhai Ambani Group company.
According to a press release, the largest life insurer of Japan valued Reliance Life Insurance at around Rs 5,600 crore ($1.1 billion), or roughly 6.64 per cent of total assets — which is higher than the deals that have taken place in the industry in the last couple of years. Morgan Stanley advised Nippon on the deal.
Goldman Sachs bought Benchmark Mutual Fund at a reported amount of Rs 130.5 crore, giving it a valuation of 4.1 per cent of assets. In September 2009, L&T Finance had bought DBS Chola Mutual Fund for Rs 45 crore, or 1.5 per cent of assets. The only deal that comes close to such a valuation is IDFC’s purchase of Standard Chartered Mutual Fund in 2008. The company had paid Rs 831 crore, or 5.7 per cent of assets.
In the mutual fund segment, deals are valued on the basis of a fund house’s asset mix, network strength, long-term earnings prospects and profitability. Typically, the higher the amount of equity AUM over the long term, the more the valuation. This is because equity mutual fund schemes earn better commissions than debt and other fund categories in a given tenure.
This is the second stake sale in the company. In 2008, hedge fund manager Eton Park Capital Management had purchased a 4.76 per cent stake for Rs 501 crore, paying the fund house 13 per cent of its AUM. RCAM, India’s second-largest AMC in terms of assets under management, managed Rs 84,299-crore assets as on December 31. Though HDFC Mutual Fund has become the largest player in terms of assets, Reliance emerged as the most profitable mutual fund house in 2010-11, with a net profit of Rs 261 crore, while HDFC reported net profit of Rs 242 crore.
“We are delighted to have Nippon as our strategic partner in the mutual fund business. They are already our partners in the Life insurance business. The mutual fund partnership cements and strengthens the relationship between Reliance Group and Nippon Life further and takes it to a new level, said Reliance Capital chairman Anil Ambani. “This investment is our second capital alliance with the Reliance Group, following our investment in Reliance Life last year,” said Nippon Life president Yoshinobu Tsutsui. In March last year, the Japanese insurer had picked up 26 per cent in Reliance Life, the life insurance arm of R-Cap, for Rs 3,062 crore. That was the largest FDI in the Indian insurance sector. The transaction pegged the total valuation of Reliance Life at approximately Rs 11,500 crore ($2.6 billion). Nippon Life, Asia’s largest private life insurance company, which managed assets worth $600 billion (Rs 30 lakh crore), posted revenue of Rs 3,49,834 crore ($80 billion) and a profit of Rs 12,199 crore ($3 billion) for the financial year ended March 31, 2011, the release added.
According to a press release, the largest life insurer of Japan valued Reliance Life Insurance at around Rs 5,600 crore ($1.1 billion), or roughly 6.64 per cent of total assets — which is higher than the deals that have taken place in the industry in the last couple of years. Morgan Stanley advised Nippon on the deal.
Goldman Sachs bought Benchmark Mutual Fund at a reported amount of Rs 130.5 crore, giving it a valuation of 4.1 per cent of assets. In September 2009, L&T Finance had bought DBS Chola Mutual Fund for Rs 45 crore, or 1.5 per cent of assets. The only deal that comes close to such a valuation is IDFC’s purchase of Standard Chartered Mutual Fund in 2008. The company had paid Rs 831 crore, or 5.7 per cent of assets.
In the mutual fund segment, deals are valued on the basis of a fund house’s asset mix, network strength, long-term earnings prospects and profitability. Typically, the higher the amount of equity AUM over the long term, the more the valuation. This is because equity mutual fund schemes earn better commissions than debt and other fund categories in a given tenure.
This is the second stake sale in the company. In 2008, hedge fund manager Eton Park Capital Management had purchased a 4.76 per cent stake for Rs 501 crore, paying the fund house 13 per cent of its AUM. RCAM, India’s second-largest AMC in terms of assets under management, managed Rs 84,299-crore assets as on December 31. Though HDFC Mutual Fund has become the largest player in terms of assets, Reliance emerged as the most profitable mutual fund house in 2010-11, with a net profit of Rs 261 crore, while HDFC reported net profit of Rs 242 crore.
“We are delighted to have Nippon as our strategic partner in the mutual fund business. They are already our partners in the Life insurance business. The mutual fund partnership cements and strengthens the relationship between Reliance Group and Nippon Life further and takes it to a new level, said Reliance Capital chairman Anil Ambani. “This investment is our second capital alliance with the Reliance Group, following our investment in Reliance Life last year,” said Nippon Life president Yoshinobu Tsutsui. In March last year, the Japanese insurer had picked up 26 per cent in Reliance Life, the life insurance arm of R-Cap, for Rs 3,062 crore. That was the largest FDI in the Indian insurance sector. The transaction pegged the total valuation of Reliance Life at approximately Rs 11,500 crore ($2.6 billion). Nippon Life, Asia’s largest private life insurance company, which managed assets worth $600 billion (Rs 30 lakh crore), posted revenue of Rs 3,49,834 crore ($80 billion) and a profit of Rs 12,199 crore ($3 billion) for the financial year ended March 31, 2011, the release added.
Parkside Hotels of UK enters India
hennai: Parkside Hotels of the UK is entering India as a part of its expansion in major markets in Asia.
Parkside is a global hotel chain with a range of properties catering to budget and ultra luxury segments. A division of this hotel chain, Parkside Zebra Hotels, has tied up with seven hotels in India and in Nepal and is entering into management contracts in South-East Asia.
Mr Himanshu Mehta, President and CEO, Parkside Zebra Hotel, told media persons that the $140-million chain will bring in a range of brands, including the Parkside Zebra Inn for budget travellers, the Parkside Zebra Hotel in the four- and five-star category, Parkside Zebra Suites offering high end suites that could cost up to Rs 30,000 a night and the niche segment Parkside Zebra Collection that could set a guest back by about Rs 1 lakh a day.
In India it has so far signed up about half a dozen properties of three to 150 rooms under the Parkside Zebra Inn and Suites. These properties are in Amritsar, Dharamshala, Jaisalmer, New Delhi and Udaipur. The company has charted out ambitious plans to tie up more lease and management contracts and is in discussions to add 30 properties in Chennai, Munnar, Baroda, Bangalore, Nagpur, Pondicherry and Dehradun.
As a part of its expansion in Asia it has signed up 19 hotels across Pakistan, Bangladesh, Nepal, Sri Lanka, Dubai and Malaysia. A unique feature of Parkside is that its offerings are significantly lower priced than equivalent brands as its business model is low-cost while offering high-end service. Its fee structure is based on number of rooms at the hotel and there is no long-term agreement, according to Mr Mehta.
Parkside is a global hotel chain with a range of properties catering to budget and ultra luxury segments. A division of this hotel chain, Parkside Zebra Hotels, has tied up with seven hotels in India and in Nepal and is entering into management contracts in South-East Asia.
Mr Himanshu Mehta, President and CEO, Parkside Zebra Hotel, told media persons that the $140-million chain will bring in a range of brands, including the Parkside Zebra Inn for budget travellers, the Parkside Zebra Hotel in the four- and five-star category, Parkside Zebra Suites offering high end suites that could cost up to Rs 30,000 a night and the niche segment Parkside Zebra Collection that could set a guest back by about Rs 1 lakh a day.
In India it has so far signed up about half a dozen properties of three to 150 rooms under the Parkside Zebra Inn and Suites. These properties are in Amritsar, Dharamshala, Jaisalmer, New Delhi and Udaipur. The company has charted out ambitious plans to tie up more lease and management contracts and is in discussions to add 30 properties in Chennai, Munnar, Baroda, Bangalore, Nagpur, Pondicherry and Dehradun.
As a part of its expansion in Asia it has signed up 19 hotels across Pakistan, Bangladesh, Nepal, Sri Lanka, Dubai and Malaysia. A unique feature of Parkside is that its offerings are significantly lower priced than equivalent brands as its business model is low-cost while offering high-end service. Its fee structure is based on number of rooms at the hotel and there is no long-term agreement, according to Mr Mehta.
Highway corridor to link Mumbai with satellite towns
Mumbai: The state government is looking beyond its proposed coastal road plan to develop a comprehensive network of urban freeways and highways connecting the financial capital of the country to major satellite townships. The 1,740-km highway corridor will be developed by 2030.
This has been recommended by the 11-member joint technical expert committee, which submitted its final report to chief minister Prithviraj Chavan on Tuesday. The panel, headed by municipal commissioner Subodh Kumar, has drawn the idea from a Comprehensive Transport Strategy prepared by consultants Lea Associates for the MMRDA in 2009.
The committee acknowledged that even though the share of public transport in Mumbai and surrounding areas is already high, the roads are badly congested and the government needs to substantially invest in road transport infrastructure. This could be done in the form of rings, radials, urban freeways and a well-developed and connected network of highways. High-quality transport network consisting of urban freeways and different types of transit system is the need of the hour, the panel has said. "The recommended highway network will comprise a significant roads length running along the city coastline." The highway network would connect to a ring road that would be constructed around Mumbai. Beginning from Nariman Point in South Mumbai and connecting to Versova will be the Western Freeway.
Similarly, an Eastern Freeway will run along the Eastern Coast of the Island City and connect to Chembur, further merging with the Eastern Express Highway at Ghatkopar. The proposed Sewri-Nhava Trans Harbour Link will secure connectivity between Sewri and Nhava. The MTHL and the Virar-Alibag corridor will complete the ring road around Mumbai.
While the overall cost estimate has not been arrived at, the ring road could be around 58 kms and cost Rs 32,000 crore, said estimates. Of the total network of Highway Corridor, nearly 539 kms will be newly developed, another 782 kms of existing arterial road will be upgraded or extended, arterial corridors and links to the length of 420 km will be constructed. The proposed Highway Corridor will include Eastern Freeway, Sewri-Worli Sea Link, Mumbai Trans Harbour Link (from Sewree to Kharkopar, Rave), inner ring roads connecting Kaman, Bhiwandi, Panvel and Dronagiri, Middle Ring Road connecting Bhiwandi, Nandivali, Narthengaon, Panvel and Kharkopar).
An Outer Ring Road connecting Khopoli, Jite and Rewas Port will complete the ring. This apart, there will be eight radials connecting NH-8, parts of NH-3, Bhiwandi Bypass, Nahur, Airoli, Nilaje, Badlapur, Chembur, Mankhurd, Vashi, Taloja, Belapur, Kalamboli, Uran, Pen and New Airport. The corridor will be completed by extending Western Coastal Freeway in the south and north up to Virar.
This has been recommended by the 11-member joint technical expert committee, which submitted its final report to chief minister Prithviraj Chavan on Tuesday. The panel, headed by municipal commissioner Subodh Kumar, has drawn the idea from a Comprehensive Transport Strategy prepared by consultants Lea Associates for the MMRDA in 2009.
The committee acknowledged that even though the share of public transport in Mumbai and surrounding areas is already high, the roads are badly congested and the government needs to substantially invest in road transport infrastructure. This could be done in the form of rings, radials, urban freeways and a well-developed and connected network of highways. High-quality transport network consisting of urban freeways and different types of transit system is the need of the hour, the panel has said. "The recommended highway network will comprise a significant roads length running along the city coastline." The highway network would connect to a ring road that would be constructed around Mumbai. Beginning from Nariman Point in South Mumbai and connecting to Versova will be the Western Freeway.
Similarly, an Eastern Freeway will run along the Eastern Coast of the Island City and connect to Chembur, further merging with the Eastern Express Highway at Ghatkopar. The proposed Sewri-Nhava Trans Harbour Link will secure connectivity between Sewri and Nhava. The MTHL and the Virar-Alibag corridor will complete the ring road around Mumbai.
While the overall cost estimate has not been arrived at, the ring road could be around 58 kms and cost Rs 32,000 crore, said estimates. Of the total network of Highway Corridor, nearly 539 kms will be newly developed, another 782 kms of existing arterial road will be upgraded or extended, arterial corridors and links to the length of 420 km will be constructed. The proposed Highway Corridor will include Eastern Freeway, Sewri-Worli Sea Link, Mumbai Trans Harbour Link (from Sewree to Kharkopar, Rave), inner ring roads connecting Kaman, Bhiwandi, Panvel and Dronagiri, Middle Ring Road connecting Bhiwandi, Nandivali, Narthengaon, Panvel and Kharkopar).
An Outer Ring Road connecting Khopoli, Jite and Rewas Port will complete the ring. This apart, there will be eight radials connecting NH-8, parts of NH-3, Bhiwandi Bypass, Nahur, Airoli, Nilaje, Badlapur, Chembur, Mankhurd, Vashi, Taloja, Belapur, Kalamboli, Uran, Pen and New Airport. The corridor will be completed by extending Western Coastal Freeway in the south and north up to Virar.
Tuesday, January 17, 2012
Nokia, Tata and LG are most trusted brands in India
NEW DELHI: Nokia, Tata and LG are amongst most trusted brands in India, said a survey Tuesday.
The revelation was made by 'Brand Trust Report 2012' which lists India's 1,000 most trusted brands.
Nokia, Tata and LG were followed by Samsung, Sony, Maruti Suzuki, Bajaj, LIC and Airtel on the list of the most trusted brands.
"The research is conducted with 2,718 'influencer' respondents from 15 cities, generating more than two million data-points from 12,000 hours of research," Trust Research Advisory firm which conducted the survey said in a statement.
The survey also came out with 22 most trusted personalities, whose list anti-corruption crusader Anna Hazare topped, followed by Sachin Tendulkar, Salman Khan, Amitabh Bachchan and Aamir Khan.
Most trusted leaders in specific categories include Armani in branded fashion, DLF in construction, NIIT in education, ONGC in energy, PVR in entertainment, Pepsi in food and beverages (F&B) and Dabur in healthcare.
Other trusted brands included Taj Hotels in hospitality, Google in internet, ACC in manufacturing, Thomas Cook in services, Being Human in social sector, Hewlett Packard in technology, and Air India in airlines.
The revelation was made by 'Brand Trust Report 2012' which lists India's 1,000 most trusted brands.
Nokia, Tata and LG were followed by Samsung, Sony, Maruti Suzuki, Bajaj, LIC and Airtel on the list of the most trusted brands.
"The research is conducted with 2,718 'influencer' respondents from 15 cities, generating more than two million data-points from 12,000 hours of research," Trust Research Advisory firm which conducted the survey said in a statement.
The survey also came out with 22 most trusted personalities, whose list anti-corruption crusader Anna Hazare topped, followed by Sachin Tendulkar, Salman Khan, Amitabh Bachchan and Aamir Khan.
Most trusted leaders in specific categories include Armani in branded fashion, DLF in construction, NIIT in education, ONGC in energy, PVR in entertainment, Pepsi in food and beverages (F&B) and Dabur in healthcare.
Other trusted brands included Taj Hotels in hospitality, Google in internet, ACC in manufacturing, Thomas Cook in services, Being Human in social sector, Hewlett Packard in technology, and Air India in airlines.
Tata Consultancy Services Q3 net up 18.26% at Rs 2,802.77 cr
MUMBAI: The country's largest software services exporter Tata Consultancy Services on Wednesday reported an 18.26 per cent jump in consolidated net profit to Rs 2,802.77 crore for the quarter ended December 31, 2011.
In the year-ago period, the company had recorded a net profit of Rs 2,301 crore, TCS said in a filing to the BSE.
The company's total income stood at Rs 13,203.99 crore in the reporting quarter, as against Rs 9,663.35 crore in the corresponding year-ago period, translating into a growth of 36.63 per cent.
"Our customer-centric approach in the market and execution rigour on the ground enabled TCS to post a strong financial performance in this quarter. Growth has been broad-based, with all markets and all industries contributing substantially," TCS CEO and MD N Chandrasekaran said.
Among mature markets, Europe led the growth in TCS's business, with an 18.1 per cent sequential jump in revenues, followed by the US (13.3 per cent) and UK (9.5 per cent).
Latin America business saw significant expansion, with an 18.6 per cent surge in revenues on a sequential basis, followed by India (14.8 per cent) and the Asia-Pacific region (15.7 per cent).
"We continue to focus on managing our operations optimally in the face of increased external volatility. We have increased our operating margins significantly by taking benefits of the growth, exchange movements and by keeping a strong focus on cost management," TCS CFO S Mahalingam said.
The company added 18,907 (gross) and 11,981 (net) employees during the quarter, taking its total headcount to 2,26,751 employees as of December 31, 2011. The rate of attrition fell to 12.8 per cent during the quarter.
"Attrition continued to fall for the second quarter in a row to 12.8 per cent as TCS remained the employer of choice in a dynamic market. We continue to hire in line with business demand trends," TCS Executive Vice-President and Global HR Head Ajoy Mukherjee said.
Shares of the company, on Tuesday closed with a modest loss, as investors adopted a cautious approach ahead of the company's third quarter results.
The company's shares fell by as much as 1.11 per cent intra-day, but recouped some of the losses and settled 0.28 per cent lower at Rs 1,104.30 a piece on the BSE. On the NSE, TCS settled with a loss of 0.37 per cent at Rs 1,105.25.
Market experts said the fall in the company stock was largely due to profit-booking ahead of the quarterly results.
Besides, some recovery in the rupee also contributed to the decline, as a stronger currency makes exports less competitive, experts said.
In the year-ago period, the company had recorded a net profit of Rs 2,301 crore, TCS said in a filing to the BSE.
The company's total income stood at Rs 13,203.99 crore in the reporting quarter, as against Rs 9,663.35 crore in the corresponding year-ago period, translating into a growth of 36.63 per cent.
"Our customer-centric approach in the market and execution rigour on the ground enabled TCS to post a strong financial performance in this quarter. Growth has been broad-based, with all markets and all industries contributing substantially," TCS CEO and MD N Chandrasekaran said.
Among mature markets, Europe led the growth in TCS's business, with an 18.1 per cent sequential jump in revenues, followed by the US (13.3 per cent) and UK (9.5 per cent).
Latin America business saw significant expansion, with an 18.6 per cent surge in revenues on a sequential basis, followed by India (14.8 per cent) and the Asia-Pacific region (15.7 per cent).
"We continue to focus on managing our operations optimally in the face of increased external volatility. We have increased our operating margins significantly by taking benefits of the growth, exchange movements and by keeping a strong focus on cost management," TCS CFO S Mahalingam said.
The company added 18,907 (gross) and 11,981 (net) employees during the quarter, taking its total headcount to 2,26,751 employees as of December 31, 2011. The rate of attrition fell to 12.8 per cent during the quarter.
"Attrition continued to fall for the second quarter in a row to 12.8 per cent as TCS remained the employer of choice in a dynamic market. We continue to hire in line with business demand trends," TCS Executive Vice-President and Global HR Head Ajoy Mukherjee said.
Shares of the company, on Tuesday closed with a modest loss, as investors adopted a cautious approach ahead of the company's third quarter results.
The company's shares fell by as much as 1.11 per cent intra-day, but recouped some of the losses and settled 0.28 per cent lower at Rs 1,104.30 a piece on the BSE. On the NSE, TCS settled with a loss of 0.37 per cent at Rs 1,105.25.
Market experts said the fall in the company stock was largely due to profit-booking ahead of the quarterly results.
Besides, some recovery in the rupee also contributed to the decline, as a stronger currency makes exports less competitive, experts said.
Delhi govt gives in-principle approval to mono-rail system
NEW DELHI: Commuting through the congested east Delhi may soon become easy with the city government today giving an in-principle approval to a 10.8 km mono-rail system which will be connected to the Metro lines.
The government plans to connect Shastri Park with Laxmi Nagar via Trilokpuri through a mono-rail having 12 stations from where commuters can access the system.
The new system is expected to supplement the existing inter-city transport modes like the Metro. The project is being developed in a way that the new system makes it possible to interchange with three Delhi Metro lines.
The in-principle approval came at a high-level meeting chaired by Delhi Chief Minister Sheila Dikshit and attended by Ministers A K Walia, Arvinder Singh Lovely and Ramakant Goswami, East Delhi MP Sandeep Dikshit, Chief Secretary P K Tripathi and Principal Secretary Chandaramohan.
"East Delhi will become the first in the city to welcome the introduction of another fast, convenient, dependable and pollution free elevated inter-city new mode of transport. In- principle approval was today given in a high-level meeting presided over by Dikshit," a senior official said.
A presentation based on a study conducted by RITES Ltd on mono-rail was given in the meeting. It was also decided to place this issue before the Cabinet to seek its formal approval to this effect, the official said.
Dikshit said it has been decided that a detailed note will be discussed in a Cabinet meeting to give a formal approval.
The mono-rail is expected to attract a daily ridership of around 1.5 lakh and will be able to provide an inter-city transport service in congested localities in East Delhi where the Delhi Metro and even buses are difficult to ply.
The government plans to connect Shastri Park with Laxmi Nagar via Trilokpuri through a mono-rail having 12 stations from where commuters can access the system.
The new system is expected to supplement the existing inter-city transport modes like the Metro. The project is being developed in a way that the new system makes it possible to interchange with three Delhi Metro lines.
The in-principle approval came at a high-level meeting chaired by Delhi Chief Minister Sheila Dikshit and attended by Ministers A K Walia, Arvinder Singh Lovely and Ramakant Goswami, East Delhi MP Sandeep Dikshit, Chief Secretary P K Tripathi and Principal Secretary Chandaramohan.
"East Delhi will become the first in the city to welcome the introduction of another fast, convenient, dependable and pollution free elevated inter-city new mode of transport. In- principle approval was today given in a high-level meeting presided over by Dikshit," a senior official said.
A presentation based on a study conducted by RITES Ltd on mono-rail was given in the meeting. It was also decided to place this issue before the Cabinet to seek its formal approval to this effect, the official said.
Dikshit said it has been decided that a detailed note will be discussed in a Cabinet meeting to give a formal approval.
The mono-rail is expected to attract a daily ridership of around 1.5 lakh and will be able to provide an inter-city transport service in congested localities in East Delhi where the Delhi Metro and even buses are difficult to ply.
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