| THURSDAY, 26 SEPTEMBER 2019 BRAND WORLD 19 . < HDFC Bank, LIC, TCS most valued brands The top rung is unchanged but overall brand value growth slows to 6% in 2019 from 34% in the previous year: BrandZ

Swiggy and Zomato also took a TOP TEN MOST VALUABLE INDIAN BRANDS big leap forward. Vodafone was Rank Brand Category Brand value Value change the top ranked newcomer to (~ cr) (%) the list of most valued brands 1 HDFC Bank Banks 161,349 5.0 that saw eight new entries in 2019. This is much lower than 2 LIC Insurance 143,078 2.0 the 30 newcomers that 3 TCS* Technology 129,058 21.0 debuted the list in 2018. 4 Airtel Telecom 73,095 -10.0 According to the report 5 State Bank of Banks 59,750 7.0 brands need to be innovative in dealing with the challenges 6 Kotak Mahindra Banks 54,271 15.0 thrown up by the economy. Jio 7 Paints 49,659 14.0 (Rank 9) is a brand that has 8 Automobiles 42,169 -14.0 read the market accurately, 9 Jio Telecom 38,886 34.0 even taking its rank up a notch as compared to 2018. Talwar 10 ICICI Bank Banks 38,395 11.0 said that Jio did not stop at *Tata Consultancy Services being the cheapest. “They kept their focus on expanding the base of their services and are almost trying to own the smart- phone ecosystem,” he said. Smartphone user numbers in SOHINI DAS vious year. The report calcu- digital ecosystem well and sec- India increased by 18 per cent Mumbai, 25 September lates valuations and ranking ondly they were very prudent in 2018 (the fastest rate of by combining companies’ about their business decisions. growth in the world). DFC Bank beat the financial data with consumer They are with the customers, Jio's peer Airtel (Rank 4) crowds to top the list insight and opinion. walking with the times,” said lost 10 per cent in brand val- H of 75 most valued While brands grappled with Vishikh Talwar, chief client offi- ue, but it ranked above Jio brands in India, keeping its many challenges this year, a cer, Kantar Insights Division. and debutante Vodafone position intact from the previ- few managed to push valua- Banking brands make up (Rank 24) on the list this year. ous year. At second and third tions up significantly. With a the largest share of the BrandZ “Vodafone is not exploiting spots, too, the old order held its 34 per cent jump in brand val- Top 75, with 23 per cent of the the brand value that they grip. Public sector insurer Life uations, Jio led the band of top total brand value tied up in that actually have,” Reddy said. Insurance Corporation of risers, a diverse set of brands on sector. However, in compari- Retail brands have been best India (LIC) and IT major Tata the list. Preeti Reddy, CEO son to other countries, where able to leverage their equity in Consultancy Services (TCS) South Asia, Insights Division, one category dominates the the present scenario, creating retained their second and Kantar, said, “They (Reliance brand ranking (such as France omnichannel platforms and third ranks in the list of most Jio) have built an entire ecosys- with luxury goods, focusing on what the report valued Indian brands. tem around Jio which is feed- US with technology, or labels ‘middle India’. This is the The big change, however, ing into each other and they Indonesia with banking), growing number of people in has been in the overall growth continue to be disruptive.” India’s top brands are much second, third and fourth-tier of brand values in the BrandZ Among the other brands that more evenly dispersed. towns that are changing India’s 2019 Most Valuable Indian increased their valuations at a Consumer tech, retail are traditional urban-rural divide. Brands, a report by WPP and significant clip are , the fastest-growing categories Both Talwar and Reddy said the Kantar Millward Brown. The TCS, Maggi, Ola, and others. with brand values increasing new band of consumers prefers total value of the top 75 brands HDFC Bank saw its brand 30 per cent. Among the high brands that cater to local needs increased to $228.2 billion, value increases five per cent, performers in this category, and improve their daily life. For growing at a moderate 6 per growing slow but at a steady Flipkart saw a sharp 14 per cent brands keen to get on the list cent over 2018, far slower than clip, to keep the top spot. spike in its valuations while next year, the trick then is to go 34 per cent recorded the pre- “HDFC has utilised the newcomers to the list, Oyo, local and get personal.

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contested the PMLA proceedings, and GST rates on home from 12 per cent to 5 MCA norms to shield the adjudicating authority vide its order per cent in March, but has disallowed dated September 24, 2018, refused to con- deduction of input tax credit. Niranjan IBC bidders... firm the PAO in the proceedings against Hiranandani said there was “no room” to the company and other defendants. cut prices to boost demand. He said JSW Steel had sought relief from statu- The ED, however, filed an appeal according to income tax rules, if a devel- tory authorities in connection with its against the order before the Appellate oper cuts prices by 5 per cent both buyers resolution plan for Bhushan Power & Tribunal, Prevention of Money and sellers have to pay a extra tax. Steel. However, the National Company Laundering Act, which is being contest- “Capital investment, which had Law Tribunal (NCLT) approved its ~19,350 ed by the company. stopped, will start again. When developers crore resolution plan earlier this month invest money, they will invest in new proj- without granting the reliefs. The compa- ects, construct properties and generate ny has appealed against the NCLT order. Extending debt employment. People will buy these prop- In its appeal, JSW has said that in the erties. There will be a multiplier effect,” absence of protection as prayed and lia- instrument Hiranandani said. There has been a large bility resulting from criminal proceed- pile up of residential real estate because of ings, the appellant would not be liable to high prices and slowdown in demand. implement the resolution plan as it maturity... There is unsold residential inventory worth would be unviable and unfeasible. In January, MFs along with other lenders ~90,000 crore, according to some estimates. JSW's concerns stemmed from its had entered into a ‘standstill’ agreement A Mumbai-based property developer experience with Monnet Ispat & Energy, with Essel promoters where it was agreed said when 85 per cent of homebuilders also acquired under the IBC, jointly with that no ‘default’ will be declared on account are incurring losses a cut in taxes will not AION. Claims from different government of a steep fall in the price of Zee shares, help. “If the government wants to boost departments had come up in Monnet. which were pledged by the promoters as housing demand, they should cut housing , which acquired Bhushan collateral. Also, the creditors decided to give loan rates and individual income tax Steel for ~35,200 crore, has also faced time to the promoters till September 30 to rates,” he said. claims from different authorities. settle the dues. This also extended the Tata Steel BSL (formerly Bhushan maturity of certain debt instruments till PM rolls out red Steel) mentioned in its annual report that the end of September. the company was impleaded in a pro- On Wednesday, said its carpet ... ceeding initiated by the Directorate of lenders had agreed to further extend the Enforcement (ED) relating to the confir- timeline beyond September-end, enabling “Your desires and our dreams match mation of a provisional attachment order the group to ‘optimise value output from the perfectly. Your technology and our tal- (PAO) of ~50 lakh (PMLA proceeding). sale of its assets’. ent can change the world. Your scale The amount was seized by the Central Earlier this month, the group cleared and our skills can speed up global eco- Bureau of Investigation in relation to an part of its dues by transferring the proceeds nomic growth,” he said. “Your prudent allegation of payment of illegal gratifica- from the promoters’ stake sale in Zee method and our pragmatic mind can tion made against the previous managing . The payment halved the write new stories in management. Your director of the company. The company outstanding exposure of most MFs exposed rational ways and our human values can to LAS structures of Essel Group show the path which the world is look- firms. ing for. And if there is any gap anywhere, The promoters had reached an I will personally act as a bridge.” > BS SUDOKU # 2853 agreement with Modi said democracy and an English- Oppenheimer to sell up to an 11 based judicial system gave added confi- per cent stake in Zee for dence to investors as there would be no ~4,224 crore. problem of interpretation. While some MFs are believed to The government is looking at investing have sold the pledged shares of ~100 trillion in building new airports, rail- Zee to recover their dues, some way lines, electrification, laying new roads fund houses have decided to give and giving houses to all. “Infrastructure is the Essel group promoters more a priority,” Modi emphasised. time to pay up the remaining dues. “We have taken numerous decisions to “We feel that promoters can increase investors confidence including realise the right value of their stake scraping of 50-old laws which were com- in Zee if they are given additional ing in way of development,” he said. “This time. This would lead to better is just the beginning. We have a long recovery for investors,” said a sen- innings ahead. The world business has a ior executive. golden opportunity to partner with India Overall, the MF industry had a in this journey.” ~5,000-~6,000 crore of debt expo- Stating that the target of nearly dou- sure to Essel Group firms before bling the economy to $5 trillion by 2024 the first tranche of dues were was achievable, he said about $1 trillion received. was added to the size of the economy dur- SOLUTION TO #2852 Medium: ing the last five years.  Modi also interacted with over 40 Solution No room to cut business leaders and American CEOs, tomorrow highlighting the steps taken by India to home prices... build a $5 trillion economy. “Captains of HOW TO PLAY industry interact with PM @naren- Fill in the grid so Sharma said input costs for devel- dramodi in New York. The extensive that every row, opers had gone up since the intro- agenda includes harnessing investment every column duction of the new goods and serv- opportunities in India and boosting and every 3x3 ices tax rates, which do not allow commercial linkages between India and box contains deduction of input tax credit. USA,” the Prime Minister's Office the digits 1 to 9 The government reduced the tweeted.