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Auto, manufacturing firms shed one-third share value in a year

Latest data shows that automobile sales for the month of August hit the lowest since 1997-98.

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Auto sector slowdown

Mumbai, Sep 10 : The ongoing economic slowdown in the country has claimed the livelihood of lakhs of people. New projects and investments have been put on hold, while a revival could take longer as investor confidence in companies cut a sorry picture at the exchanges.

Data from the bourses suggest that in just the past one year, the automobile and manufacturing companies, have seen over one-third of their share value getting eroded, on average, indicating a sharp decline in these companies’ abilities to raise capital in the market.

During the period in consideration, the Nifty metal index has lost the most among the 11 sectors constituting the benchmark index.

Manufacturing companies like SAIL and Jindal Steel, which constitute the metal index, declined by 35 per cent, on an average

Not a distant second was the auto index, which fell over 33 per cent.

Among the 15 constituent stocks of the auto index, Tata Motors, Motherson Sumi Systems and Ashok Leyland have been worse hit, losing 55 per cent , 66 per cent and 51 per cent, respectively. Bajaj Auto seems to have bucked the trend, coming down merely 2 per cent amid companies severely hurt owing to the slowdown.

Latest data shows that automobile sales for the month of August hit the lowest since 1997-98.

Steel companies are witnessing a similar trend. The state-owned Steel Authority of India (SAIL) has lost over 57 per cent, while Jindal Steel has also shed over half of its share value in the last one year.

Six of the 15 companies constituting the index have lost over 40 per cent of their share value.

The state-run bank index – Nifty PSU Bank index – despite a slew of measures that have been announced for the sector, has yet to regain investor interest. The PSU (public sector undertaking) bank index has declined by 21 per cent during the same period.

The Nifty pharma index – investment in which firms are considered to be relatively safe during downturns, and, therefore, called defensive investments — fell 22 per cent.

The Nifty media index also also shed over 30 per cent.

(Ravi Dutta Mishra can be contacted at [email protected])

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Bill Gates Is Driving a Porsche Taycan. Here’s Why He Didn’t Get a Tesla

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San Francisco, Feb 18 : Tesla CEO Elon Musk on Tuesday took a jibe at Microsoft co-founder Bill Gates after the world’s second richest man declared he has bought his first EV — Porsche Taycan.

Gates told a noted YouTube tech reviewer Marques Brownlee in an interview that he purchased his first-ever EV Porsche Taycan, calling the vehicle “very, very cool”.

“My conversations with Gates have been underwhelming tbh (to be honest),” Musk tweeted to a user.

The initial EV Porsche Taycan Turbo S model starts at $185,000 while the entry-level Tesla Model 3 starts from $35,000.

In the interview, Brownlee asked Gates about his thoughts on Tesla’s dominance in the electric vehicle market.

Gates acknowledged that Tesla is the cream of the crop when it comes to electric cars, adding that lots of manufacturers are moving to produce electric vehicles because Tesla’s appeal has been increased over the past few years.

“Tesla, if you had to name one company, that’s helped drive that, it’s them,” said Gates.

You can watch the complete interview here:

Musk has been tweeting his thoughts about tech honchos.

He recently questioned Facebook CEO Mark Zuckerberg’s understanding of Artificial Intelligence (AI) and called Amazon Founder and CEO Jeff Bezos a “copycat”.

Gates recently commissioned a $644 million hydrogen-powered superyacht. The plans of buying the superyacht were unveiled at the Monaco Yacht Show in December last year.

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Maruti Suzuki India launches Ertiga S-CNG

“Being the first company to introduce factory-fitted CNG cars in the country, today we proudly own the largest portfolio of green vehicles.”

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Ertiga S-CNG
Maruti Suzuki BS-VI compliant Ertiga S-CNG

New Delhi, Feb 7: Automobile major Maruti Suzuki India on Friday rolled out the BS-VI compliant Ertiga S-CNG, offering a mileage of 26.08 km per kg.

According to the company, the factory-fitted Ertiga BS-VI S-CNG will be available for Rs 8.95 lakh (Ex-showroom, Delhi).

At the launch, Maruti Suzuki India’s Executive Director (Marketing & Sales) Shashank Srivastava said: “Ertiga has been a market leader amongst MPVs, and the introduction of BS6 S-CNG will further help augment its leadership in the segment.”

“Being the first company to introduce factory-fitted CNG cars in the country, today we proudly own the largest portfolio of green vehicles.”

Besides, the company said that the launch of S-CNG vehicle range is aligned to and complements the government’s vision of reducing oil imports and enhancing the share of natural gas in the energy basket of the country from the current 6.2 per cent to 15 per cent by 2030.

At present, the government is working to rapidly increase CNG fuel pumps network in the country.

In addition, the automobile major said that S-CNG vehicles are equipped with dual interdependent ECUs (Electronic Control Units) and intelligent injection system.

“Vehicles are specially tuned and calibrated to deliver optimum performance and enhanced drivability across all kinds of terrains,” the company said in a statement.

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Elon Musk hires AI that ‘reports directly’ to him 24/7

Tesla is using advanced AI for vision and planning, supported by efficient use of inference hardware to achieve a general solution to full self-driving.

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Tesla CEO Elon Musk

San Francisco, Feb 3: Tesla CEO Elon Musk who is a staunch critic of Artificial Intelligence (AI) has now hired the technology, turning AI into a subordinate that “reports directly” to him daily.

Musk, who has crossed swords with Facebook CEO Mark Zuckerberg and former Alibaba Chairman Jack Ma over the role of AI, is finally giving the technology some space, like in his startup Neuralink which is creating a brain-machine interface.

Tagging Lex Fridman, popular host of the Artificial Intelligence podcast on YouTube, Musk tweeted: “At Tesla, using AI to solve self-driving isn’t just icing on the cake, it the cake” @lexfridman

“Join AI at Tesla! It reports directly to me & we meet/email/text almost every day. My actions, not just words, show how critically I view (benign) AI,” the Tesla CEO added.

For him, AI can only do ‘benign’ tasks and those jobs too are being evaluated critically by him.

Tesla is using advanced AI for vision and planning, supported by efficient use of inference hardware to achieve a general solution to full self-driving.

The company is building silicon chips that power its full self-driving software from the ground up, taking every small architectural and micro-architectural improvement into account while pushing hard to squeeze maximum silicon performance-per-watt.

The company is applying cutting-edge research to train deep neural networks on problems ranging from perception to control.

“Our per-camera networks analyze raw images to perform semantic segmentation, object detection and monocular depth estimation. Our birds-eye-view networks take video from all cameras to output the road layout, static infrastructure and 3D objects directly in the top-down view,” says Tesla.

“Our networks learn from the most complicated and diverse scenarios in the world, iteratively sourced from our fleet of nearly 1 million vehicles in real time. A full build of Autopilot neural networks involves 48 networks that take 70,000 GPU hours to train. Together, they output 1,000 distinct tensors (predictions) at each timestep,” the electric carmaker added.

The company is also developing core algorithms that drive the car by creating a high-fidelity representation of the world and planning trajectories in that space.

During a recent presentation about Neuralink’s brain-machine interface technology, he said: “Even in a benign AI scenario, we will be left behind.

“Hopefully, it is a benign scenario. But I think with a high-bandwidth brain-machine interface we can actually go along for the ride. And we can effectively have the option of merging with AI,” Musk told the gathering.

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