Chennai

Movie lovers help online ticketing grow

Seeking higher revenues, online ticketing companies have been diversifying into non-movie categories and pushing sales of sports and entertainment events. However, movies still continue to dominate the segment.  The online ticketing space is also being dominated by top two large players. The $330 million online ticketing industry is dominated by movie ticket purchases at 55 per cent. Entertainment events have 25 per cent and sports events 20 per cent share. 

Sundaram Fin to divest 40% stake in Royal Sundaram

City based non-banking finance company Sundaram Finance which holds majority stake in Royal Sundaram said it has signed an agreement with Ageas International to divest 40 per cent stake for a total consideration of Rs 1,520 crore.

Currently, Sundaram Finance holds 75.90 per cent in Royal Sundaram and proposes to divest 25.90 per cent, thereby retaining 50 per cent of its holding post the divestment.

Some of the existing shareholders will hold the remaining 10 per cent in Royal Sundaram.

Hiring sentiments likely to decline in Oct-March

Despite the continued, significant, growth in GDP the job market for the forthcoming half year sees slight drop in hiring sentiment, according to staffing company TeamLease Services.

Job growth sentiments for the period October-March 2018-19 are expected to decrease by 3 per cent points compared to the preceding half-year (April– Sept 2018).

Dasari quits as Ashok Leyland chief

After serving Ashok Leyland for 14 years, Vinod K Dasari resigned as managing director and chief executive officer on the company.

Dasari has decided to pursue his personal interests and seek new learning. Respecting his personal decision, the Board in its meeting today accepted his resignation, Ashok Leyland said in a release. Dasari will continue to work in the current position until 31 March 2019, to ensure a smooth transition.

Flipkart group CEO quits over #MeToo kind of charges

In an unusual conclusion of events, Binny Bansal (in pic), 37, one of the most high profile new generation young, tech-savvy billionaires of India, has resigned as group CEO following an independent probe into allegations of “serious personal misconduct,” Flipkart’s new owner Walmart Inc said on Tuesday.

Binny Bansal, co-founder and group CEO of Flipkart, has denied the allegation, the American retail giant said.

PE/VC exits till Oct cross yearly highs

After record-high investments, Private Equity and Venture Capital funds are making record high exits, indicating the good health of the market. The funds have registered highest–ever exits within the 10-month period till October and the exit value is 1.9 times higher than the total exits of 2017.

How 18 MLAs were disqualified

The events that culminated in the disqualification of 18 MLAs supporting TTV Dinakaran started in December 2016 with the power play within the AIADMK after the death of then chief minister and party supremo J Jayalalithaa.

Tamil Nadu by-poll to identify Amma & Karuna successors

Bypoll at the fag-end of an assembly term would usually pass off as a non-event. But the expected bypolls for 20 assembly seats in Tamil Nadu is important not just for the number of seats. For the key Dravidian parties as well as some newly emerged ones, this is going to be a litmus test. And it can offer all the excitement of a T20 cricket match.

Among the 20 seats that are due for by-polls, two became vacant following the death of the sitting MLAs. Tiruvarur had elected DMK leader M Karunanidhi while Tirupparankun-dram lost its AIADMK MLA A K Bose.

No question of joining hands with any other party without DMK: Cong

Days after actor-politician Kamal Haasan offered to join hands with it if it snapped ties with the DMK, the Congress has said the Dravidian major will decide on the contours of the "secular" alliance in Tamil Nadu to oust the BJP from power in the 2019 Lok Sabha polls.

There was absolutely no question of joining hands with any other party without the DMK, "a trusted and long-time ally," All India Congress Committee (AICC) secretary Sanjay Dutt told Dravida Munnetra Kazhagam (DMK) chief M K Stalin Saturday when he called on him, Congress sources said.

AIADMK up in arms against Sarkar

The ruling AIADMK is up in arms against Tamil film star Vijay's Diwali release Sarkar for its reported reference to former chief minister J Jayalalithaa, besides the alleged depiction of certain government schemes in bad light. Senior AIADMK ministers demanded that the contentious scenes be deleted, and threatened to initiate legal action if the latter failed to comply.

Fisheries minister D Jayakumar wanted to know why certain references deemed to be that to the late Jayalalithaa had found their way into the script.

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