THE ECONOMIC TIMES AUGUST 02-08, 2017

INSIDEBE

Korea Feels The Heat By Rajiv Singh In a first, South Korean giants sweat as desi AC players turn on the heat.

INCRED’S COVER DRIVE WITH DRAVID Voltas Topples LG… t was in 2006 when Voltas launched its new brand posi- tioning with a tag ‘Indian ka dil, India ka AC.’ Though it CHEFS COME HOPPING IN Imight have won ‘India ka dil’ Startup Hopping Chef wants a a long time back, it took the piece of the fine dine pie homegrown brand a decade to become On XX 2 ‘India ka AC.’ According to the latest Gfk numbers, NOW FOR THE NEXT Voltas ended FY’17 with a 19.5% mar- QUESTION… ket share. Its bugbear — South Korean SET’s Kaun Banega biggie LG — logged in 18.4%, forcing it …Lloyd Batters Samsung Crorepati is to cede the coveted crown to its Indian rebooting to skew younger and rival. Voltas continued to maintain its hen in February this radar and recently roped in Amitabh aspirational. Will lead in the first two months of the first year, lighting and elec- Bachchan as its brand ambassador, has it deliver? quarter of this fiscal. trical appliances major trampled South Korean biggie Samsung Pradeep Bakshi, President of Voltas, W Havells announced its in the AC segment. would however like to set the record ceded ground to Korean ri- move to buy the consum- From a meagre 2.8% market share in straight. “Voltas has been the clear vals, starting the late 90s and er durables business of Lloyd Electrical financial year 2015, Lloyd closed the leader in the room AC business since the early part of last decade. “It’s a and Engineering for a staggering tag of last financial year with 7.1%. The rapid the last five years,” he says. What has tenacious brand and the latest numbers `1,600 crore, it surprised many. Experts growth continued in the first two months helped the brand gain leadership, he only reinforces the belief that Indian deemed it a ‘costly’ buy. of this fiscal: 8.5% in April and 9% in May. lets on, is a well differentiated product brands can beat the global biggies,” Havells chairman and managing direc- The numbers, when contrasted with portfolio, positioning based on sharp says Ashita Aggarwal, head of market- tor Anil Rai Gupta, however, stuck to one Samsung, presents a stark picture. consumer insight, highest distribution ing at SP Jain Institute of Management of the basic tenets of marketing: value is When Lloyd was crawling at 2.8% reach and brand equity, and a custom- and Research. always bigger than price. in FY’15, Samsung was lording with BY INVITATION ised approach for the Indian market. In 2012, when Voltas introduced its Cut to July. In less than 50 days since 13.7% market share. It closed F Y17 with Motilal Oswal’s Ramnik Chhabra The imagery of ‘trust’ being part of the all-weather AC backed by a charac- the acquisition got completed in May, a lower share of 10.5%, but still ahead decodes the Fearless Girl Tata group, the ‘all-weather’ and ‘energy ter called ‘Mr Murthy’ in its TV com- Lloyd has done business of close to `300 of its unlikely rival. However, in April On XX 3 efficient’ brand positioning all had a role mercials, it took a huge leap in terms crore. Gupta stands vindicated. “It is a and May this year, it dipped to 7.5% and in in reinforcing dominance. “The brand of connecting with consumers. While good and satisfying start,” he says. “I al- 6.3%, respectively. is seen as the expert in the space of com- other brands were shouting themselves ways see value.” It would be tough, reckon marketing the twitterindex fort and cooling,” he says. hoarse about features, Voltas had The real value, however, can be gauged experts, for the South Korean consumer It has been a remarkable comeback, Murthy talking to people. from the fact that the little-known Indian durable player to stage a comeback. reckon marketing experts. Voltas had >Continued on Page 4 brand, which has always been under the “Oops, that’s a big loss,” says brand strategist Harish Bijoor. In the category Room AC market share % (Only MBO, which makes Room AC market share % (Only MBO) of air conditioners, just as in the case of (MBO+EBO) up 90% of market) (MBO+EBO) any other consumer durables, it means a Game of loss of home or office for the next six years Promotions minimum. “ACs have a habit of blocking OLTAS LG OLTAS LG LLOYD AMSUN LLOYD AMSUN From amusing to V V S G S G repeat buys. To that extent, this loss is a crazy – the FY’15 18.7% 20.5% 20.8% 15.6% FY’15 2.8% 13.7% 3.2% 10.6% heavy one,” he says. promos that are Bijoor contends that the alarming dip in keeping Game FY’16 18.6% 20.3% 2 1 % 16.2% FY’16 5.7% 13.7% 6.5% 11% of Thrones FY’17 19.5% 18.4% 21.4 % 15.4% FY’17 7.1% 10.5% 7.8% 8.6% market share might be due to a combina- at the top April ’17 19.1% 15.2% 20.4% 12.4% April ’17 8.5% 7.5% 9.1% 6.3% tion of act of omission or commission by On XX4 May ’17 20% 13.6% 21.5% 10.5% May ’17 9% 6.3% 9.8% 5% Samsung and its hungry rivals. >Continued on Page 4 Source: GfK; Motilal Oswal; EBO is exclusive brand outlets and MBO is multi-brand outlets

Management opted for a different spend the time, the money and hire SIDETAKE route. While the first film talked a name director — Amol Gupte, fa- OR JUST IDIOT? about the category, even if it didn’t flog mous for his work on Taare Zameen This 1979 letter shows just how IDIOT SAVANT the brand, this time around there’s no Par and Stanley Ka Dabba among much Xerox hates people using pect of a sequel should fill you with joy. reference to IDFC at all. others— for something where the IDFC Asset Management BY RAVI BALAKRISHNAN | The Return of One Idiot will be out end Why, you wonder, would a brand brand doesn’t even have a ‘blink its name as a verb MUMBAI creates yet another near August or early September, clocking and you’ll miss it’ appearance? Is Assuming you were among the 400,000 in at a generous twenty five minutes. it still branded content if there’s no half hour branded content plus people who saw One Idiot — Except, instead of immediately One Idiot: The most skinflint brand? IDFC MF’s film on investing wisely figuring out how many ways the resident of the building, The team however believe the film with no brand. What on YouTube — and lasted through its brand could be shoehorned into so roundly mocked for wearing films serve a greater purpose. It’s does it hope to achieve? nearly 35 minute run time, the pros- much running time, IDFC Asset his Hawaii chappals thin and pointless flogging specific products — this struck us as a little and offers, in a category where pene- bizarre — for buying his own Xerox is a known vegetables, turns out to be a tration is abysmally low – at just 5%. stickler when it comes to crorepati several times over Instead the question business ought its corporate trademark, but that’s not new. because he saves, invests to be grappling with, as IDFC Asset In light of longtime book critic Michiko and doesn’t splurge. His Management CEO Vishal Kapoor Kakutani stepping down from her role Thursday, a reporter for The New York circle of influence gradually puts it, is “How do you get people to spreads through a building Times tweeted out an amazingly anach- become savers in the first place and ronistic letter to the editor from an upset full of chronic spenders, star- take their financial outcomes more ing debt in the face. Xerox employee. The typewriter-written seriously than they typically do?” letter, dated August 2, 1979, is directed to IDFC Asset Management is revisit- a mis-gendered “Mr. Michiko Kakutani” ing the idea, encouraged by the suc- in response to an article in which Xerox’s cess of the first film which worked name is used as a verb. “ There is no ad- better in seeding the thought than jective xeroxed’. Rather, one should use a traditional ad campaign; Kapoor copied, photocopied or duplicated,” Maggie Lovaas, a field market analyst, wrote on says it was popular with both inves- official Xerox stationary. “If in the future tors and distributors. you wish to use the name Xerox, it should The team were clear they wanted be used with a capital ‘X’ and no ‘ed’.” The a sequel in a similar space. And so, article in question, titled “Pat Carroll Pat Amol Gupte found an enthusiastic Carroll Pat Carroll,” is a profile on the mid- client when he approached Rishi century actress Pat Carroll. The author, Ms. The Return of One Idiot: In a presentation Kakar, director – marketing, IDFC Kakutani, verbifies the company’s name to a college on how he made his fortune, Asset Management with an idea while detailing the decor in Carroll’s house. the idiot speaks of people who hadn’t he’d got after spending a lot of time “Miss Carroll’s reconverted farmhouse has planned well enough — from cab drivers speaking to people at old age homes, become something of a Steinian archive; it in Mumbai behind the wheel well into is filled with books by Stein and about Stein, and informally interviewing the their 70s and 80s to the mother of an as well as xeroxed Ph.D. theses and obscure old school mate, languishing in an old drivers of Mumbai’s black and yel- literary journals devoted to that most fa- age home. low cabs. mous of salon keepers,” reads the piece. PHOTO: BHARAT CHANDA BHARAT PHOTO: >Continued on Page 4 Source: Business Insider “The digital supply chain needs to be cleaned up” Unilever’s global chief marketing and communications officer, Keith Weed, on cleaning up digital, learning what not to do and more

pixels in the digital world, count as a nies decided to move away. We didn’t. portant. But within that, advertisers fic on the internet being bots. view. Can you imagine if in a TV com- I am a great believer in partners: you and media companies should use the Form our perspective, we go out BY RAVI BALAKRISHNAN mercial, 50% of the TV would count? I are better off staying and working tools that are in place. of the way to ensure we buy good MUMBAI don’t believe that should be the case in through issues. Some of the companies who got caught quality media and in a recent The marketing communications industry digital. We need to ag ree at an industry We did not perceive ourselves having out were not using tools to ensure they study, we had the lowest levels of has been beset with problems that did level that a view is 100%. a brand safety issue since we had high were buying better media. If it’s too ad fraud. not exist or were nowhere near as severe Veri fication was not so much of an is- guard rails in place. Of course it’s up to good to be true, if you are buying re- The last one that adds it all just three years ago. What’s your view on sue when the digital media industry media companies to provide a suitable ally cheap, chances are it will be together is measure- these challenges? was quite small. But now it’s half the or safe environment, with better clas- a cheap site that you are on. ment. I still don’t think The digital supply chain does need to be media market and third party verifi- sification of content types. You can buy One step beyond brand safety we are there yet. We cleaned up. We seem to lurch from one cation is critical to get the right level news and it could be the BBC or some- is ad fraud. We talked about need one measurement issue to the other. Ad fraud, viewability, of accountability. We can’t have digi- one with an affiliation with a terrorist the $10 billion issue around system across media. At verification and measurement all had tal media companies grading their group. Clarification of inventory is im- ad fraud with 60% of traf- the end of the day, it’s their day in the sun. The problem is we own homework as the Americans one consumer and one look at them independently instead of would say. advertising budget. holistically. Which brings me to brand safety: you That’s the biggest There are the three Vs: Viewability, want to make sure your ads are appear- WE SEEM TO LURCH FROM ONE ISSUE TO THE unlock we could get Verification and Value. When it comes ing in a suitable environment. There’s OTHER. THE PROBLEM IS WE LOOK AT THEM to as an industry. to viewability: for some reason, people been a lot going around (the issue) with >Continued on are championing the idea that 50% of Google and YouTube and some compa- Page 4 INDEPENDENTLY AND NOT HOLISTICALLY CHANDA BHARAT PHOTO: “We’ve had vicious kings, and we’ve had idiot kings…but I don’t BE CLASSIC 34 know if we’ve ever been cursed with a vicious idiot for a king!” . THE ECONOMIC TIMES - Tyrion Lannister, House Lannister of Westeros AUGUST 02-08, 2017 the twitter GoP: Game of Promotions index From the mildly amusing to the downright crazy – the promos that are keeping Game of Thrones at the top. By Delshad Irani The weekly Twitter Advertiser Index lists the brands which have generated n addition to providing some- most engagement with users on the thing to look forward to at the platform weekend, Game of Thrones, a fantasy telly drama now THE BRAND ENGAGEMENT INDEX Ielevated to the status of a A S ON JULY 26, 2017 global cultural event, has also inspired some inventive pro- 1) @SamsungMobileIN: @ motions over several seasons of ice SamsungMobileIN launched a new smart- and fire, blood and gore, scheming phone #GalaxyOnMax with a camera which and fighting for the Iron Throne. can capture quality photos even in low light. This season is no different. White To promote the phone and this feature, it ran a Walkers led by the Night King took a #BringAliveTheDark activity on Twitter which stroll in London. In Moscow, a bunch got users to tweet about the low light moments of Free Folk joined regular folk for they wished to capture. The winners would a special screening in the Metro. A stand a chance to win the new phone. ‘Marathrone’ marathon from Rome to Milan has runners chasing a 2) @titanwatches: For #WorldEmojiDay, truck screening all six seasons of the @titanwatches celebrated by running an inter- massively popular show. In India, esting quiz that got sizable engagement from its Star World’s running a Twitter followers. The quiz made use of different emojis contest called Game of Predictions, to create song titles, countries or cities and asked while Hotstar, the video-on-demand participants to guess what they were supposed platform, warned against piracy in to represent. There were about 10 questions in its campaign - ‘Torrents Morghulis’ total and participants who got all answers right that’s High Valyrian for all torrents A song, stood a chance to win a Titan gift hamper. must die. Despite the warnings and and a long wait, many new and legal ways of watch- of Ice and Fire 3) @Vivo_India: @Vivo_India held an- ing the show, Dragonstone, the first That would be the appropriate title other round of #VivoCampusCarnival over a episode of Season 7 was ripped off 90 for this event - a Facebook Live video weekend where it was giving away some deals of a block of ice melting. That’s right. million times. Tens of thousands of people watched to fans who retweeted its tweets. The deals in- Here’s a roundup of some of the 69 minutes of video of a flamethrower cluded offers on hotel stays, movie tickets dis- more interesting GoT action. changing the molecular structure of counts and offers on mobile data. The top win- ice. Viewers were invited to click on ner would win the grand prize of a #VivoV5s the ‘Fire’ symbol to set pyro-man Energetic Blue mobile phone, the latest phone Walk like a White Walker in action. The payoff: the big reveal of Season 7’s pre- released by the company. According to Taylor Herring, the PR mier date. agency responsible for the stunt, it 4) @dominos_india: To time around the I stitch and I know things took eight weeks to create the full #WomensWorldCup2017 buzz, @dominos_in- costumes, and each actor spent four At Belfast’s Ulster Museum on display is a 66-metre long tapestry depicting all the dia showed its support to the India women’s hours in makeup before hitting the major events from the past six seasons of Game of Thrones – from Jaime Lannister national cricket streets of London as white walkers shoving Bran Stark out of a window to the Battle of the Bastards. Now that’s some- team. The activ- led by their Night King. The stunt left thing worth looking at for 69 minutes. (See A Song And A Long Wait...) Publicis ity was also many doing a double take as they went London created the Bayeux Tapestry for Tourism Ireland, which has been milking called Women about their daily business like buying its association, as one of the show’s main filming locations, for the past four years. Where can I park my dragon? Some survival phrases: In Blue and in- morning coffee or taking the Tube to (Translate to High Valyrian) Yes – Kessa cluded 10 ques- work, only this time in the next seat is a Like Vulcan before it, High Valyrian is destined to No – Daor tions related to dead, cold creature. The walkers were join the universe of real world languages. Popular Woman – Abra cricket and the also spotted at Oxford Circus, Tower education and language app Duolingo added the Man - Vala India women’s Bridge and The Tower of London and ancient, and not real, language of Essos to its More pigeon pie, please - Toli team. Fans Buckingham Palace’s Throne Room. archives after much testing. At last count, almost rhuqo lotinti, kostilus. who answered King’s Landing is the other 54,000 people signed up to learn High Valyrian. Where are my dragons? - them all with way, boys. This course is constructed in collaboration with lin- Skoriot ñuhyz zaldrizesse the correct guist David J. Peterson, who developed Valyrian ilzi? answers were eligible to win Domino’s voucher and Dothraki languages, which are a critical part I would like a trial by com- worth `300. of making GoT and ‘A Song of Ice and Fire’ an im- bat - Vilibazmosa iderenni mersive experience. The language is “spoken by emilun. 5) @MercedesBenzInd: @ educated Westerosi, and regarded as the language Seven hells! - Sikudi MercedesBenzInd recently started a of nobles, poetry and dragons”. The course is free. nopazmi! #MBCertified program for people who are fans of their luxury cars and have always dreamt of it. In this program, fans can now buy a pre-owned Mercedes Benz Certified car at an What does Jon Snow know? ity to the chatbot which answers with Catch’s founder and managing director, attractive price. The company announced this The answer to that and many more GoT GIFs, japes and naked snaps of Jon. For in- Jonathan Smith said: “With 1.2 billion program over a tweet which received lots of en- mysteries and questions about Westeros stance: What is Hodor’s favourite cereal? monthly active users on Facebook gagement – after all Mercedes Benz is one of the and Essos, its grand, good and evil hous- Raisin Bran. Why do Lannisters have such Messenger, the potential audience for many desirable car brands longed for by many. es, wights, dragons and Dothraki, lie with big beds? Because they push two twins chatbots is huge. We knew we wanted to

a cheeky G0TB0T. The result of an unholy together to make a king. G0TB0T even create a Facebook chatbot and wanted to The index looks at the live list of all advertisers on union of Facebook Messenger and Game has answers for all your questions about get our clients excited about the future of the platform and measures the total number of user engagements with all the tweets that they sent out of Thrones. There’s a name for that who’s alive, dead, beheaded, walking AI and how it might benefit their business. that week - specifically this is a sum of all the replies, kind of thing in Westeros. The creator, dead and resurrected. G0TB0T: “Let’s face What better way to do so than creating retweets and favourites across all tweets that week. Catch Digital, a UK-based digital it, they’re probably dead. But tell me their our very own chatbot? And who doesn’t agency, has given ample personal- name and I’ll spoil it for you.” like Game of Thrones?”

Continued from Page 1 >> Top AC penetration “The digital supply chain Voltas Topples LG…across the world Idiot Savant Or... Aggarwal observes the Murthy campaign for Voltas According to IDFC Asset has an impressive number needs to be cleaned up” not only helped in simplifying jargon, it also prodded Management’s Rishi Kakar, the of views – albeit spread over have a purpose and a delivery people to use ACs all year round. What also worked was film is a conscious attempt to step five years – and mostly posi- against our sustainable living sticking to a wide portfolio. “It’s a marketing disaster to Taiwan US Korea China India away from equating investment tive commentary as valida- plan – something around the en- put all your eggs in one basket,” says Aggarwal. LG, she with conspicuous consumption: tion, KV Sridhar, founder, vironment and society. points out, lost out on this count. 90% 87% 70% 53% 4-5% “The old family system is break- HyperCollective was less than Many brands like Brooke Bond, The Korean major, for its part, is sticking to its inverter ing down. There are several sto- impressed with One Idiot. As a Dove and Ben & Jerry’s are AC gambit. LG, claims its AC business head, managed ries about people finding it dif- person who has created a fair brands that resonate with con- to transition from regular ACs to 100% inverter ACs ficult if they’ve not saved for old share of longform films online for sumers. Last year, they provided range and leads the split AC market in India. “LG is far market is expected to grow further and LG will continue age. Retirement gets harder than brands like DBS (Chilli Paneer 60% of our growth and grew 50% ahead of competition with 47% share in May in split AC to maintain product leadership, he says. it should be.” And hence a film and Part II with its branching nar- faster than the rest. We are not inverter segment,” asserts Vijay Babu business head of The fixation of the Korean MNCs with inverter ACs a campaign about how not prepar- ratives) and British Airways, he into correlation but if it looks and ACs at LG Electronics India. baffles experts. ing for a future could mean a life- feels the length is the most off-put- sounds like a duck, it probably is Babu, though, concedes that the industry share of In spite of the dominance of smartphones, feature time of drudgery and work. ting aspect of the film, even if it is a duck. inverter technology within split air conditioner has phones still make up over half the market. “And they are The branding was restricted delivering a very important mes- increased from 12% in 2016 to 31% in 2017. This means not dying,” says Aggarwal. If one seeks to win market to a logo in the first and the last sage: “You may miss the content’s You’d launched Water Works losing out on 70% market, which is non-in- share in a country like India, then one has to be present frame of the film relevance unless you at Cannes a few years ago, a verter! From a high of 16.2% share in across the categories so that a wider set of users can be because the team stay to the end. This system where people in more FY16, LG slipped to 10.5% in multi catered to. Indians, she avers, have scored over the MNC felt anything more is a classic example of developed countries could help brand outlets in May this year. rivals in understanding the needs of the local market would detract ‘internet time is free finance Pureit units to economi- Babu, however, is not press- and users. from the message. so let’s do a half hour, cally disadvantaged consumers. ing the panic button. Next For the time being, ‘smarter’ Murthy has outsmarted Given IDFC Asset 10 minute or three Why do you think it didn’t do as year, the inverter AC the Korean giant. Management in- minute film.’ The well as expected tends taking the depth of engagement Water Works was specifically film to schools and needs to be exam- trying to find an approach where …Lloyd Batters Samsung colleges, like it did ined. For something through social media we would with the first edi- this long to work, it match people on one side of the At times, M NC brands tend to get 50% of volume, the report predicts. tion, chances of a should be as gripping Unilever has acquired a reputa- planet to help people on the other lulled into imagining their brand- Samsung, however, asserts it got its calculation right. buy-in are greater if as a show like House tion for being a very courageous side. What I learned is that ac- value will pull them through, but that “The non-inverter segment is de-growing,” says Rishi there’s no sales pitch. Besides as of Cards on Netflix.” He believes a marketer, especially after back- tually it’s easier and better and seldom happens in the close-to-commodity Suri, director of Consumer Electronics at Samsung Kakar points out, “The brand’s simpler more engaging storyline ing initiatives like The Six Pack you will have greater traction category such as AC. India. Inverter AC, he adds, is the need of the hour and this role is in delivering the cultural would work better: “Getting the Band for Red Label. How have getting people in a country to The Indian players, Voltas and Lloyds, lead is what the consumers are looking for. “We truth or message; for instance, the sweet spot on the content whether you encouraged creativity and engage with issues within that on performance, says Bijoor. A hard-work- MNCS TEND have the highest market share in inverter seg- Pantene ad about breaking stereo- fiction or non-fiction is the real risk taking? country. It is very hard — al- ing Indian product may be close to commod- TO IMAG- ment,” claims Suri, declining to share num- types. If you fit pieces of the brand thing. It needs to be such that It’s a necessity since life has got though it’s been done by some — ity, but at the same time is offering the abil- bers. Samsung, he points out, wanted to come into what’s otherwise a nice story, people watch 80%.” more cluttered. Reimagining to get someone in another coun- ity to tame the Indian summer altogether. INE BRAND up with a product which is more meaningful people smell an agenda.” Poring through the viewership creativity is probably the big- try to empathetically engage Apart from aggressive rivals, what also hit for consumers, apt for the Indian market and Amol Gupte came on board stats on YouTube, the average gest challenge. There are two with problems elsewhere, when Samsung were two strategic blunders, say ex- VALUE WILL is more energy efficient. For the time being, purely because there was no overt time spent on the film is 9:18, per- parts. One is to break through they see problems in their own perts. First, Samsung exited the window AC PULL THEM however, Suri’s bet on inverter ACs is not sup- branding. He says “Someone haps too soon for the entire mes- clutter and get noticed. And then, country. We will attempt to do market way back in 2012, citing de-growth in ported by rapidly sliding market share. might ask ‘what are you selling?’ sage to percolate. But 2012 was, when people engage, you cannot more things on a national basis. the segment. Windows, at present, is still over THROUGH Gupta of Havells too has been betting on in- I am just making people aware of in terms of viewing options, and expect attention any longer. It’s We learned some good lessons 12% of the Indian room AC market. verter ACs, but not at the cost of ignoring oth- the tragedy, the pitfall before the bandwidth, remarkably primitive a reward and not a given. And on what not to do. It doesn’t mean Secondly, the South Korean player has been focusing er segments. “If consumers want other options, why not last step. Do you want to end up compared to 2017. The ‘idiot’ has so, you need brands people care we’ve stopped the thought, we’ve more on inverter ACs over the last year or so. This move, offer them?” he asks, adding that one should not drive the behind the steering wheel or on his work cut out for him this time about. That’s why we do a lot just stopped that project. point out experts, has also turned out to be counter-pro- market to change fast. For now, Gupta should be elated a watchman’s stool when you are around: getting people interested around brands with meaning [email protected] ductive. In its research report in April this year, Motilal with the strategy of the MNCs to focus only on inverters over 80? Once that shakes you up, enough to watch before they get and purpose – we call them the For the full interview please visit Oswal puts the share of inverter ACs at 30% of the entire as it helps Lloyd remain ‘cooling ka baap.’ you should carry it home.” scared enough to start investing. sustainable living brands. They etbrandequity.com AC market. By 2020, inverter ACs are likely to account for [email protected] While IDFC Asset Management [email protected]

Regn.No.MAHENG/2002/6711Volume 16 Issue No. 31Published for the Proprietors, Bennett Coleman & Company Ltd. by R. Krishnamurthy at The Times Of India Building, Dr. D.N.Road, Mumbai 400 001Tel. No. (022) 6635 3535, 2273 3535, Fax- (022)-2273 1144 and printed by him at (1) The Times of India Suburban Press, Akurli Road, Western Express Highway, Kandivili (E), Mumbai 400 101. Tel. No. (022) 28872324, 28872930, Fax- (022) 28874230 (2) The Times of India Print City, Plot No. 4, T.T.C. Industrial Area, Thane Belapur Road, Airoli, Navi Mumbai-400708 and (3) TIMES PRESS, Plot No. 5A, Road No. 1, IDA Nacharam Ranga Reddy District, Hyderabad-500076. Editor: Ravi Balakrishnan(Responsible for selection of news under PRB Act). © All rights reserved. Reproduction in whole or in part without the written permission of the Publisher is prohibited.