Launch Update: Dealers have started accepting bookings for Verna 2017 which is to be launched next month
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Launch Update: Dealers have started accepting bookings for Verna 2017 which is to be launched next month

Hyundai, the South Korean automobile giant will launch its much awaited 2017 Verna next month. Although, Hyundai has not officially started accepted booking, a few dealers have started accepting bookings for the new car. While the unofficial booking amount is just Rs 25,000, the dealers currently have no clue about the pricing or the different variants of the car. The Hyundai Verna was the first 'Fluidic' model that was introduced in India. The new car will be based on the same Fluidic Sculpture 2.0 design. In styling, the new car has more similarities to Hyundai's Elantra and it will be fully loaded with technology. The Fluidic design that the Verna first introduced is still present. Hyundai Verna will compete with the brands like Honda City and the Maruti Suzuki Ciaz. Verna 2017 is expected to have the current engine options - 1.4-litre petrol, 1.6-litre petrol, 1.4-litre U2 CRDi diesel and 1.6-litre CRDi diesel. Hyundai has also released a teaser image of the new 2017 Verna's interior.
Box office collection Day 4: Ranbir Kapoor, Katrina Kaif film Jagga Jasoos slows down
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Box office collection Day 4: Ranbir Kapoor, Katrina Kaif film Jagga Jasoos slows down

The box office collection of Ranbir Kappor's Jagga Jasoos has slowed down with the film earning Rs 4.05 cr on Monday. The film, directed by Anurag Basu, had collected 11.53 cr on Saturday and 13.07 crore on Sunday. The film which released 15 July had earned Rs 8.57 crore on the opening day. The film's total collections at present stand at Rs 37.22 crore. Trade analyst Taran Adarsh gave a breakdown of the Jagga Jasoos' earning  in a tweet. The film stars Katrina Kaif alongside Ranbir Kapoor. Overall, the film has received a mixed but positive response from critics. The film is a musical in which Ranbir plays an amateur detective and Katrina a journalist. Jagga Jasoos is the third film together for Ranbir and Katrina. They had earlier teamed for Ajab Prem Ki Ghazab Kahani and Rajneeti. Ranbir, also, seems to be a favorite of Anurag Basu who cast him in his 2012 film Barfi. The slowdown in the earnings of the film could be a concern for producers as the total budget of the film was Rs 110 crore. The earnings are likely to slow down further in the week.  Anurag Basu's treatment of the film has led to comparisons of Jagga Jassos with Hollywood musicals.  However, not everything has paid off.
GST Impact: Government gives cigarette producers no reason to smile
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GST Impact: Government gives cigarette producers no reason to smile

The GST Council has hiked the cess on cigarettes to take away the windfall gain of Rs 5,000 crore that manufacturers would have raked in due to an anomaly that had crept in after the GST rate was fixed, Finance Minister Arun Jaitley said on Monday While the peak Goods and Services Tax (GST) rate of 28 per cent stays and so does 5 per cent ad valorem cess on top of it, the fixed cess has been hiked between Rs 485 and 792 per thousand sticks, the finance minister explained. "The increase in cess would bring in Rs 5,000 crore of additional tax revenue which otherwise would have gone to the manufacturers," the finance minister told journalists after the council held an emergency meeting through video conferencing. The GST Council had in May fixed 28 per cent as the top rate for cigarettes. A 5 per cent ad valorem cess was levied on top of it and Rs 1,591 per thousand sticks as fixed cess on both filter and non-filter cigarettes of not exceeding 65 mm length. The cess rate varied from Rs 2,126 to Rs 4,170 for cigarettes of different lengths. But this rate was lower than the pre-GST tax incidence and the choice before manufacturers was either to pass on the lower taxes to consumers by way of cutting rates or pocket the windfall. The manufacturers chose the latter alternative. Jaitley said to correct this, the GST Council has raised the fixed cess by Rs 485 to 792 per thousand sticks. He said the consumer prices will, however, not change as the increased tax incidence would only take away the windfall profits the manufacturers were earning. Jaitley also said the GST Council will meet in first week of August to review the progress of the implementation of GST, which was rolled out on July 1. Under the GST law the government proposes to impose a cess on luxury and sin goods such as cigarettes for the first five years, to create a corpus to compensate states in case of revenue loss under the new tax regime. This was a crucial clause that was incorporated in the law to get reluctant states on board for the biggest tax reform since independence. The cess is applicable above the 28 per cent tax on luxury goods, sugary drinks and tobacco products. The compensation law also proposes to compensate states every quarter in case of revenue shortfall and the final compensation amount will depend on a CAG audit.
GST Impact: Mobile chargers will cost more now
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GST Impact: Mobile chargers will cost more now

The government has imposed a 10 per cent import duty on USB cables in a bid to boost domestic mobile and accessories manufacturing industry. Until now, 'static converter for cellular mobile phones' such as a USB cable was exempt from basic customs duty. Static converters are phone charging cables, which can also be used for accessing and transfer of handset data to a computer, laptop, TV or tablet. With this move, the static converters imported into India will attract same 10 per cent basic customs duty as imposed on imported mobile chargers. Indian Cellular Association said this is reflection of the government's commitment towards phased manufacturing programme.
Baba Ramdev’s next business plan
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Baba Ramdev’s next business plan

India's self-made multi-millionaire Baba Ramdev's latest business move is here: The monk would now be venturing into a Rs 40,000 cr private security market. Will he pull it off? If you go by his track record, it might turn out to be another big surprise. Ramdev's FMCG venture made that amount of money in FY17. But Ramdev has set the bar higher for next year. The yoga guru aims to double his firm's profit with a bigger market presence and even bigger production plan. Ramdev has already sounded a warning to his MNC rivals of a dominant position. Ramdev's home brand Patanjali would increase its mega production units in Uttar Pradesh, Maharashtra and Madhya Pradesh, which are under full-fledged construction. Once done, these units will aid production of goods worth Rs 60K and more next year, compared to Rs 35,000 crore this year. The monk's brilliant business strategies have helped Patanjali achieve a zooming growth in the FMCG market; from Rs 5,000 cr in 2015-16, the company, head-quartered in Haridwar reached a whopping Rs 10,000 crore in 2016-17. Ramdev has also spoken of creating about five lakh jobs in the coming years through domestic expansions. Patanjali is hoping to clock Rs 50,000 crore in revenues by 2020. Ramdev, according to some, may be working on a plan for an initial public offer. Ramdev, at a recent SBI meet, batted for Indian businessmen, saying they need to be respected. Abusing businessmen should be banned in the Indian Parliament .You want their taxes, you want their money to fund your political parties. Stop cursing them . Every businessman is not a thief, he said.
Here is how much Volkswagen Polo GTI costs after deduction of Rs 6 lakh
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Here is how much Volkswagen Polo GTI costs after deduction of Rs 6 lakh

Volkswagen in 2016, launched the Polo GTI in India at a price of Rs 25.99 lakh (ex-showroom, Delhi). However, the delearships have now reduced its price by Rs 6 lakh. A report in the Financial Express confirming the news, stated that the prices of the Polo GTI have been reduced, making it available for Rs 19.99 lakh, ex-showroom, Delhi. Last year, Volkswagen launched its GTI badge to India with the Polo. The GTI came with a 1.8-litre TSI engine that made 189bhp of peak power and 250Nm of peak torque. India got a single gearbox with a 7-speed DSG with the new Polo. There were small design cues that differentiate it from its plebian GT variants. A new set of LED headlamps, a new honeycomb GTI grille with red accents and a different set of bumpers was what the new GTI got. The GTI also got an integrated spoiler, 17-inch wheels and a dual tip exhaust setup. Inside the cabin, the car featured a different racer-like, flat-bottom steering wheel. The car was being produced and assembled in Germany and hence came with a hefty price-tag of Rs 25.65 lakhs (ex-showroom, Thane). Recently, Volkswagen revealed the sixth generation of Polo in Berlin and it will make its debut at the 2017 Frankfurt Motor show, reported  Team
Launch Update: Xiaomi to launch Mi Max 2 today at 11:30 am
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Launch Update: Xiaomi to launch Mi Max 2 today at 11:30 am

Xiaomi will be launching the Mi Max 2 in India today. The unveiling of the phablet is scheduled to begin at 11:30 am IST. The new device will be the successor to Xiaomi's popular Mi Max, launched last year. The second generation device has a similar footprint as the Mi Max with a monstrous 6.4 inch screen. The device looks like an evolved version of the previous iteration but the same cannot be said for the internals, the processor to be specific. However, the company has made some nifty changes that will definitely make it a step up in comparison to the Mi Max. The event can be streamed at the company's official website. The website also offers a chance to win F-codes, discount coupons and more by just playing a simple game called The Big Chase. As the name suggests, the game is all about getting bigger. Similar to the classic snake game, you're a round luminous object eating other round luminous objects to get bigger. Specifications of the Mi Max 2: Processor Starting with the core of the device, the processor, Mi Max 2 features a Snapdragon 625 chipset. Contrary to the rumours, Xiaomi decided to go with Redmi Note 4's processor for both its variant. Earlier speculations claimed that the device would come in two variants, one with Snapdragon 626 and the other with Snapdragon 660. The processor is accompanied with 4GB RAM on both the devices. The variants will only be distinguished in accordance with the internal storage. One will come with 64GB and the other with 128GB. Xiaomi has decided to go big on internal storage this year. Last year the company launched the Mi Max with 32GB and 64GB options. Design In terms of design, the phone seems much smoother than the previous version. The most evident difference can be seen at the back of the device. Xiaomi has done away with antenna lines on the rear panel and has gone for a smoother, more rounded finish on the rim of the device. According to the company, this will help with the ergonomics of the 6.44-inch phablet. However, the company has retained the positioning of the fingerprint sensor on the rear panel. The all metal construction and absence of the antenna lines gives a more slab-like design to the device; one can spot similar design cues on the iPhone 7. The speaker grills have been tweaked for better stereo sound which the company claims is big improvement over last years' Mi Max. Battery  Xiaomi has set the standards for battery performance in the Redmi line-up, with Redmi 4 claiming a two-day battery life. The Mi Max 2 is claiming to have the same performance with a mammoth 5,300mAh battery. The massive size of the screen allows the device to house this huge battery. The Mi Max 2 supports Quick Charge 3.0, which according to the company can recharge 68 percent in just one hour. Camera The company claims to have made major changes in the device's camera. The Mi Max 2 will use similar primary image sensor as the flagship Mi6. The 12megapixel camera on the rear panel of the device comes with PDAF support and dual-LED flash. The Sony IMX386 sensor with 1.25-micron pixels will allow better image processing in accordance with the lighting condition. The front camera will be equipped with a 5megapixel sensor. Pricing and availability Up till now, the device was a China-exclusive and the 64GB variant was priced at CNY 1,699 (roughly Rs. Rs 15,953) and the 128GB storage priced at CNY 1,999 (roughly Rs. Rs 18,765).  It seems the company will go with the same price model as the first generation Mi Max, even for India.
The financial subsidiary Indel Money will open more branches  in Kerala, Tamil Nadu and Karnataka
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The financial subsidiary Indel Money will open more branches in Kerala, Tamil Nadu and Karnataka

The Rs 1500-crore Indel Corporation, a Mumbai-based investment group with diverse interests, plans to expand its financial and automotive segments to more states in the current year.
The financial subsidiary Indel Money will open more branches in Kerala, Tamil Nadu and Karnataka and diversify its activities. NBFC, which currently has 140 branches spread over Kerala and Tamil Nadu, intends to add another 40 more branches in the two states. In addition, it will open 30 branches in Karnataka.
"At present, our main focus is on gold loans. We would like diversify to areas like supply chain finance, truck loans and micro housing finance. We are in discussion with international financial institutions for debt funding to raise a capital of Rs 250 crore in the first phase,'' Umesh Mohanan, director of Indel group said.
Indel Automotive, the automotive subsidiary of the group, had recently acquired three major automobile dealers in Kerala worth over Rs 400 crore including their liabilities. Now it plans to spread wings in Tamil Nadu and Mumbai. In Tamil Nadu, it is looking for acquisitions at Coimbatore, Salem, Erode and Tirupur.  "We need to focus on larger markets and larger volumes to retain competitive edge in the coming years,'' Mohanan said.
Hospitality, infrastructure, construction, agriculture, communication, media and entertainment are among other interests of the group. Under the hospitality wing, the group currently has two hotels in Kochi and one in Palakkad. A five-star hotel in Palakkad and a boutique hotel in Guruvayur are under construction. "We have plans for five-star hotels in Thiruvananthapuram and Kozhikode but we will keep it on hold for the time being,'' Mohanan said.
Launch update:  Raymond will launch new khadi range on Oct 2
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Launch update: Raymond will launch new khadi range on Oct 2

Textile and apparel major Raymond Ltd will launch Khadi by Raymond on October 2. Raymond was first to forge the first partnership with Khadi & Village Industries Commission (KVIC) and will promote the fabric in India and global markets. "We have decided to launch the khadi range on Gandhi Jayanti on October 2. We will launch it through 300 exclusive stores and about 10 KVIC stores across India. It will be introduced to international markets also in near future," Raymond VP & head sales Ram Bhatnagar told PTI. "The range will be in the mid to premium segment," he said. He did not rule out exclusive Raymond Khadi stores in future. "Initially not, but we cannot rule it out in future. We have to be cautious about expansions due to supply limitations. As the products are 100 per cent handmade, production cannot be raised in short period," Bhatnagar said when asked about exclusive Khadi stores from Raymond. Raymonds offering in Khadi range will begin from Rs 700 onwards for a metre of fabric. It will also offer premium product Khadi lines including suits. All Khadi items will be 100 per cent hand woven and handmade. The company is initially working with 40 khadi clusters across India and will expand gradually. Raymond will procure silk fabric from Murshidabad and muslin cotton from South India khadi clusters, officials said. Under the partnership, Raymond has guaranteed a minimum procurement of Khadi and Khadi products for a period of five years with primary purchases in muslin cotton, wool blends and silk. The company will also bring in design interventions at Khadi manufacturing clusters along with technical expertise.
Sensex and Nifty touch fresh peaks
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Sensex and Nifty touch fresh peaks

Markets scored more as the benchmark Sensex on Monday ran up 111 points to hit a fresh all-time high of 32,132 and the Nifty hit off a new peak of 9,920 after positive cues from Asia pushed investors to go that extra mile. IT, metal and power stocks pushed higher. The Sensex started on a high note before trading at 32,131.92 at 1100 hours, up 111.17 points, or 0.34 per cent. The NSE 50-share Nifty hit 9,920.30 at 1100 hours, up 33.95 points, or 0.34 per cent. Wipro hit it big by 3.56 per cent. Adani Ports, ICICI Bank and Infosys followed.Foreign portfolio investors (FPIs) bought shares worth a net Rs 673.56 crore last Friday and domestic institutional investors (DIIs) net sold shares worth Rs 136.27 crore, as per provisional data. Asian stocks rose after the Dow and S&P 500 had brought up record highs last Friday on bets that the Federal Reserve’s accommodative monetary policy would continue following lacklustre US data.