For the Internet search company, this is more advertising revenue in the auto segment, which grew by 150% in 2010
Indian auto buyers are increasingly relying on the Internet to help them make their auto purchase decisions, which has resulted in the auto vertical growing faster than the hitherto more-frequented travel, consumer electronics and finance verticals.
According to a report by Google India on the auto sector in the country today, Indian consumers have gone ahead of the US and Europe in using the Internet. While only 62% of would-be vehicle owners in the developed countries did their preliminary search on the Internet, in India it was around 65%, this despite the fact that only around 10% of Indians actually use the Internet.
The auto vertical on Google Search has registered tremendous growth in online searches by 110% in 2009 and 84% in 2010 on Google Search. The fast growth has continued this year, with the auto category showing a 72% increase in searches in the first six months of 2011 over the same period last year.
For Google, this is more advertising and more revenue. Rajan Anandan, vice-president and managing director of Google India, said, "In the last two years, we've seen great traction amongst the players in the auto vertical as they continue to embrace digital advertising to engage car and bike shoppers online. We have seen over 150% growth in revenues from the auto sector in 2010 and we expect the share of auto advertising spends on digital to grow significantly in the next few years."
The report which is a compilation of consumer search behaviour specifically in the auto category (cars and bikes) in 2009 and 2010, reveals that 49% of all auto-related queries on Google were vehicle shopping queries.
Entry and mid-segment cars in the price range of (Rs2 lakh to Rs6 lakh) were en the most searched. Diesel cars, which are big in demand, registered triple-digit growth in 2010. Search queries for diesel cars grew by 52% in April to May 2011 when petrol prices were hiked by Rs5/litre. SUVs were the second-most searched car category, followed by luxury cars, which is the fastest growing car category. Search queries for bikes saw a more than 96% increase in query volumes in 2010.
The online search behaviour of consumers mirrors the offline world. For, there has been a 38% increase in the volume of queries in the second half of the year over that in the first half. Indian consumers tend to make auto purchases during the festive season (2009 to 2010).
Wealthsurance Dreambuilder offers flexible, customised investment options; covers 17 major diseases, hospitalisation and accidental injuries
Private life insurer IDBI Federal Life Insurance today announced the launch of its new ULIP (unit-linked insurance plan) called Wealthsurance Dreambuilder Insurance Plan which will enable customers to save and build wealth under the protective cover of insurance.
Wealthsurance combines wealth creation and insurance protection into one financial solution. With a minimum premium amount of Rs25,000 per year and maximum of Rs1,00,000, Wealthsurance Dreambuilder Insurance Plan offers a wide range of insured wealth plans.
Announcing the launch of the new plan, GV Nageswara Rao, MD & CEO of IDBI Federal Life Insurance said, "The is a very flexible plan and can be customised to an individual's needs with 13 different fund options to choose from. A key attribute of the plan is that it can be insured not only against risk of death but against 17 major diseases, hospitalisation, disability, accidental injuries etc so that you can feel confident that your financial goals can be reached despite the surprises life may throw up. To encourage long term investments, the plan boosts your funds through Guaranteed Loyalty Additions at the end of 10th policy year and every five years thereafter to reward customers for staying committed for the long term."
Wealthsurance Dreambuilder Insurance Plan offers a suite of investment options designed to meet the needs of every customer depending upon his or her risk appetite. For instance, conservative customers can choose guaranteed return options which offer fixed, assured returns. Those who can take risks can opt for capital protected options where the entry NAV (net asset value) is guaranteed and returns depend upon the market. Customers who would like to get potential high returns of equity markets in the long-term and understand the risk can opt for market linked equity options.
The NCD issue would aggregate up to Rs375 crore with an option to retain over-subscription up to Rs375 crore for issuance of additional NCDs aggregating to a total of up to Rs750 crore
Shriram City Union Finance Limited, a deposit-accepting NBFC (non-banking financial company) registered with the RBI (Reserve Bank of India) and the largest small enterprise finance company in India, plans to raise funds through the debt capital market on 11th August with a public issue of Secured Non Convertible Debentures (NCDs) of face value of Rs1,000 each. The NCD issue would aggregate up to Rs375 crore with an option to retain over-subscription up to Rs375 crore for issuance of additional NCDs aggregating to a total of up to Rs750 crore.
The NCDs proposed to be issued under this issue have been rated CARE 'AA' by CARE for an amount of up to Rs750 crore, and CRISIL 'AA-/Stable' by CRISIL for an amount of up to Rs750 crores. The funds raised through this issue, after meeting expenses, will amongst others, be used for Shriram City's various financing activities including lending and investments. The funds would also be used to repay the company's existing loans and for its business operations including for the capital expenditure and working capital requirements. The NCDs are proposed to be listed on the NSE (National Stock Exchange) and the BSE (Bombay Stock Exchange).
JM Financial Consultants Private Limited, AK Capital Services Limited and ICICI Securities Limited are the lead managers to the issue while Karvy Investor Services Limited is the co-lead manager to the issue.