Business Roundup #Week02

M S Dhoni
Image used for representation only. Source: Twitter

Dhoni Enters Entertainment Business

Former India cricket captain Mahendra Singh Dhoni has entered the entertainment business with a long-term partnership deal with production house Banijay Asia, says a report.

Dhoni Entertainment, a company floated by Dhoni, and Banijay Asia will create content across genres for multiple platforms. Banijay Asia is a 50:50 joint venture between Banijay, one of the world’s largest independent content creation companies and former Endemol Shine India managing director Deepak Dhar.

Under the partnership deal, both entities will make investments to create premium content that will be distributed across platforms in India and South-East Asian markets, said Dhar.

IndiGo Set To Launch Istanbul Flights

Low-cost carrier IndiGo aims to launch daily non-stop flights to Turkey’s capital city of Istanbul by March, according to a report.

Istanbul will be the first international destination to be served by the brand new narrow-bodied A321neos being inducted by the airline, providing it the capability to fly for six hours non-stop, according to an airline source.

IndiGo recently announced a codeshare agreement with the Turkish Airlines, allowing a passenger to book a connecting flight with the partner airline on one ticket for sectors between India, Istanbul and beyond.

Record Profit For Hyundai Motor In India

South Korea’s Hyundai Motor has recorded its highest-ever profit and turnover in India in FY18, says a report.

This will help cushion the carmaker from pressures in key markets of US, Europe and China. Hyundai Motor India’s turnover grew 5% to $5.8 billion for FY18 with profit after tax swelling 8% to $300 million.

In a market that grew 8%, Hyundai India’s domestic sales grew just 5% in FY18 to 5.4 lakh units. However, a rich model mix and higher capacity utilisation ensured a healthy profit growth in the financial year ended March 2018.

Domestic IT Spending To Grow 12%

India’s domestic IT spending is estimated to grow 11.9% to 2,59,762 crore rupees this year, says a report.

This is on the back of digital spending by enterprises and the government, said a report by Coeus Age Consulting.

After an aberration in 2017 due to the disruption caused by the structural changes undertaken in the form of demonetisation and GST roll-out, the IT spend growth bounced back in 2018, Coeus Age Chief Executive Kapil Dev Singh said.

Star India Seeks Advertiser Support

The media rights holder of the cash-rich Indian Premier League, Star India, has started tapping the market with its IPL coverage plan seeking advertisers’ support, says a report.

The schedule and venue of the 2019 edition of the IPL will be announced only after the dates of the general elections are out.

As per multiple media agency executives who have seen these presentations, Star India is looking up to 15% increase in viewership as well as ad revenues.

Avan Plans New Products

Startup electric scooter maker Avan Motors plans to introduce one new product every six months starting from this year, says a report.

The company is eyeing total sales of around one lakh units within three years, a top company official said.

The company, which has a pipeline of six products, expects to introduce these in the market at a price range of 45,000-80,000 rupees.

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Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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