ITC has moved higher to its new high of Rs 353, up 9% in early morning trade, extending its Friday’s 4% gain on BSE, in the backdrop of implementation of the goods and services tax (GST) from July 1.

Analysts at Reliance Securities expects ITC to benefit in GST regime, as the tax outgo will remain similar to the current tax structure. That apart, the new regime also provides more clarity and uniformity in taxes across states.

TVS Motor Company reduced prices on its two-wheelers to pass on Goods and Services Tax (GST) benefits to its customers.

The prices for their products have been reduced by up to Rs 4,150 depending on each state. The company's dealers will also be given suitable assistance on their opening stock, which they purchased at pre-GST prices, as on July 1, 2017.

Top automaker Maruti Suzuki India (MSI) has slashed prices of its models by up to 3 per cent with immediate effect in order to pass on GST benefit to its customers.

In a statement today, the company said it has transmitted the entire benefit of GST rates on vehicles to its buyers.

Tata Motors-owned Jaguar Land Rover today reduced prices of its entire vehicle range in India on an average by 7 per cent to pass on benefit of reduced tax incidence under GST.

The company said it is fully geared up for the new tax regime and its vehicles will be available under the new prices with immediate effect from any of its 25 retail outlets across India.

Microsoft Corp. is planning a global sales reorganization to better focus on selling cloud software, according to people familiar with the matter. The restructuring is scheduled to be announced as soon as next week and will impact the Worldwide Commercial Business under Judson Althoff and Jean-Philippe Courtois’ global sales and marketing group, the people said. Job cuts are likely to result from the changes, said the people, who asked not to be identified speaking about unannounced plans.

A protest against “leak” in an ONGC pipe at Kathiramangalam near here turned violent as locals and activists clashed with police officials, prompting them to baton charge the protestors which left several persons, including two policemen, injured. Police said the people and some activists, who allegedly belonged to a political party, had blocked road and disrupted traffic following the reported leak in a pipe. They also prevented the ONGC officials who had rushed to the spot to inspect and plug the leak, leading to tension, police said.

Three key reasons for the upgrade to ‘buy’ from ‘neural’: early stress recognition and high NPA coverage of 58% imply a lower P&L hit in FY18F from higher provisions for RBI’s identified large NPAs; the PPOP outlook is better than peers as the capital levels will not constrain growth, and unlike peers there are positive NIM catalysts for BOB in FY18F – we expect +12% ROE in FY19F; with a 17% correction in the past two months, we believe the market expectations on NPA resolutions are more realistic with BOB trading at 0.85x Mar-19F adjusted book.

MUMBAI: Himanshu Kapania, the managing director of Idea Cellular, is believed to have emerged the frontrunner to head what would be India’s largest telco formed out of the ongoing merger between India’s No. 3 carrier and second ranked Vodafone India, two people familiar with the matter said.

“It’s only logical that Kapania should be heading it (the merged telco),” one of the people with direct knowledge of the matter, said. “The formal decision though hasn’t been taken. There’s enough time left (for the merger).”

Giving relief to government-owned Indian Railway Catering and Tourism Corporation (IRCTC), the ministry of finance has decided to reimburse the loss of the Railways' subsidiary due to the waiver of service charge for online booking of train tickets.

This service charge was exempted from November 23, 2016, to boost digital transactions. Before demonetisation, IRCTC used to charge Rs 40 a ticket for bookings in air-conditioned classes and Rs 20 per ticket in the sleeper class. The finance ministry is likely to reimburse about Rs 500 crore to IRCTC annually.

By the end of September this year, India will have its first branded chocolate boutique as the Kolkata-based cigarette to FMCG major, ITC Ltd, makers of the Fabelle luxury chocolate brand, has decided to finally come up with two such boutiques in Delhi and Kolkata, outside its hotel premises.

"Spaces have been identified and will be operational sometime next quarter. The identified spaces will be our own in the current phase to ensure quality and a befitting experience for the consumer", Hemant Malik, divisional chief executive of the foods business at ITC Ltd told Business Standard.

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