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GST Impact: Tata Motors, Hyundai and Nissan slash prices

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Auto sales report

Mumbai, July 6 : Automobile companies such as Tata Motors, Hyundai Motor India and Nissan Motor India on Thursday said that they have slashed vehicle prices post the introduction of the GST.

According to Tata Motors, it has reduced prices of its commercial vehicles (cargo) in the range of 0.3 per cent to 4.21 per cent and in commercial vehicles (passenger transportation) in the range of 0.6 per cent to 8.2 per cent.

“Following the roll-out of GST, we have decided to pass on the entire benefit to our customers in the ex-showroom prices,” said Girish Wagh, Head of Commercial Vehicle Business Unit, Tata Motors.

“We are confident that the post-GST price reduction will enable the customers to bring down their cost of operations and in turn, boost demand.”

On its part, Hyundai Motor India announced that it has passed on the GST benefit on vehicles to its customers.

“The rate of reduction varies from state to state across the car range depending on the earlier VAT rates. The price reduction will be up to 5.9 per cent (ex-showroom Delhi). The new prices are effective from July 1, 2017,”

Similarly, Nissan Motor India said that the ex-showroom prices of its products have been reduced by an average of three per cent depending on city and model specification.

“The implementation of the GST is a positive move for both automobile manufacturers and customers. We are happy to pass on the benefits to our customers for a more attractive value proposition,” said Arun Malhotra, Managing Director, Nissan India.

On Wednesday, Mahindra & Mahindra (M&M) and Renault India said that they have reduced prices due to GST roll-out.

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Markets open on negative note

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Mumbai, Jan 24: The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade.

Later the Sensex move to a positive region.

The Sensex of the BSE after opening at 36,161.62 points touched a high of 36,163.68 and a low of 36,085.68 points.

On Tuesday the Sensex closed at 36,139.98 points.

The Sensex is trading at 36,165.75 points up by 25.77 points or 0.07 per cent.

On the other hand, the broader 51-scrip Nifty at the National Stock Exchange (NSE) opened at 11,069.65 points after closing at 11,083.70 points.

The Nifty is trading at 11,076.25 points in the morning.

IANS

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Enterprises now deploying AI technologies: Infosys

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infosys

Davos, Jan 23: Enterprises are moving beyond the experimentation phase with Artificial Intelligence (AI) and are now deploying AI technologies more broadly, said an Infosys survey on Tuesday.

There is a fundamental shift in how enterprises operate as AI takes hold, according to the “Leadership in the Age of AI” survey.

“AI, as the research shows, is becoming core to business strategy, and is compelling business leaders to alter the way they hire, train and inspire teams, and the way they compete and foster innovation. Industry disruption from AI is no longer imminent, it is here,” Mohit Joshi, President, Infosys, said in a statement.

“The organisations that embrace AI with a clearly-defined strategy and use AI to amplify their workforce rather than replace it, will take the lead, and those that don’t will fall behind or find themselves irrelevant,” Joshi added.

Seventy three per cent respondents strongly agreed that their AI deployments have already transformed the way they do business, and 90 per cent C-level executives reported measurable benefits from AI within their organisation.

Organisations are taking steps to prepare employees and business leaders for the future of work, with 53 per cent respondents indicating that their organisation has increased training in the job functions most affected by AI deployments.

More than 1,000 business and IT leaders with decision-making power over AI solutions or purchases at big organisations across seven countries were included in the survey.

IANS

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Market zooms: Sensex at 36K, Nifty50 at 11K

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Mumbai, Jan 23: Projection of India’s healthy economic growth outlook, along with bullish global cues lifted the key Indian equity indices to their new highs during the early morning trade session on Tuesday.

Accordingly, the S&P BSE Sensex and the NSE Nifty50 breached their previous respective intra-day high levels.

In the process, the barometer Sensex crossed the 36,000-points-mark and the NSE Nifty50 climbed above 11,000 points.

Market analysts pointed-out other factors such as positive Q3 results and buying support in oil and gas, banking, capital goods and consumer durables stocks aided in the key indices’ upward trajectory.

At 9.50 a.m., the 30-scrip S&P BSE Sensex, which had closed at 35,798.01 points on Monday, traded higher at 36,036.51 points, up by 238.50 points or 0.67 per cent.

At the National Stock Exchange (NSE), the broader Nifty50 quoted at 11,039.75 points, up by 73.55 points or 0.67 per cent.

IANS

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