Chennai

Mobiles to account for 80% of e-retail by 2020: Study

Share of e-commerce purchases made through mobile phones has gone up to 70 per cent in 2017 with data charges becoming more affordable. The share of mobile purchases is expected to touch 80 per cent by 2020, finds a study. The higher usage of mobile phones for purchases is likely to see the launch of mobile-only formats of e-commerce companies.

Ashok Leyland expects Rs 5,000cr from defence orders

Commercial vehicle manufacturer Ashok Leyland is expecting revenue of around Rs 5,000 crore from its order book from the defence sector. The company will also launch over 20 new models of commercial vehicles this year. 

Ashok Leyland had earned revenues of Rs 500 crore from the defence vertical last year and expects to grow this to Rs 800 crore this year. Development of the orders that the company currently has received from the defence sector will add another Rs 5,000 crore of revenue, said Vinod Dasari, CEO and MD of Ashok Leyland.

Akshaya Tritiya sales marginally up

Akshaya Tritiya sales were just 5 to 10 per cent up this time as higher gold prices forced buyers to tighten their purse strings. “The sales have not been very great. There could be 5 to 10 per cent growth over last year,” said Bachhraj Bamalwa, former chairman of All India Gem & Jewellery Domestic Council.

Avg annual salaries across sectors, cities down by 30%, says study

Annual salaries across sectors and cities have come down this year by around 30 per cent, finds a survey by Randstad India. While the average annual cost to company offered by the highest paying sector is down from Rs 11.3 lakh to Rs 9.6 lakh, the highest paying city saw a drop from Rs 14.8 lakh to Rs 10.6 lakh.

India to rank among top 5 cosmetics markets

By 2025, India will become one of the top-five global markets for cosmetics, finds a study. The market is expected to more than triple to $20 billion by then, growing at a CAGR of 25 per cent.

The global cosmetic market is growing at 4.3 per cent and is expected to be worth $450 billion by 2025. Growing from $6.5 billion to $20 billion, India will be one of the top-5 markets for cosmetics by 2025, finds RedSeer Consulting.

PM rubbishes allegations on ToRs of Fin Commission

PM Narendra Modi on Thursday said the Centre has suggested to the finance commission to consider incentivising states working on population control, while refuting charges that the Terms of Reference of the 15th Finance Commission were biased against certain states. The issue was being raised by “vested interests,” he said without naming anyone.

‘Go back Modi’ cries, black flags greet PM across TN

A slew of black flag protests and release of black balloons across Tamil Nadu over the the Centre's "inaction" to form the Cauvery Management Board marked prime minister Narendra Modi’s one-day visit on Thursday. He was here to inaugurate the Defence Expo at Thiruvidanthai and to open the Diamond Jubilee Building of  Cancer Institute at Chennai. Police had made elaborate security arrangements to ensure Modi’s programmes went undisrupted.

Wall brought down for PM’s Chennai visit

Security arrangements for Prime Minister Narendra Modi’s scheduled visit to Chennai have run into a controversy. The prime minister is scheduled to visit Tamil Nadu on Thursday to inaugurate Defence Expo at Thiruvidanthai. He will also visit the Adyar Cancer Institute here to inaugurate a few facilities.

Huge gap between claim and sum assured

Similar to low penetration, underinsurance is an equally daunting issue in healthcare. Insurance players are witnessing multi-fold gap between the claims made by the customers and their sum assured. 

A Bajaj Allianz General Insurance analysis found that the claim cost was multiple times higher than the sum assured in cases both common and life-threatening diseases.

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