Hyundai to hike prices of Grand i10 from Aug
New Delhi: Hyundai Motor India (HMIl) on Tuesday said it will increase the price of its hatchback Grand i10 by up to 3 per cent from August. The company, which has not changed prices of its other models, said the price hike is due to increase in input and material costs. “The revised prices will be implemented from August 2018,” HMIl said in a statement. Currently, the Grand i10 is priced between Rs 4.74 lakh and Rs 7.51 lakh (ex-showroom Delhi). The price hike on Grand i10 comes at a time when HMIl is gearing up to launch a new compact car around Diwali this year. The new model is widely understood to be the return of the Santro brand in India, although the company has insisted that it has not decided on the name. Earlier this year, HMIl Managing Director and CEO Y K Koo told PTI that the model would be launched near Diwali this year. “So we will take a final call on the Santro badge at around that time. However, we are under a lot of pressure from dealers, customers and market to bring back the Santro brand,” he had said. The company sells a range of cars starting from entry level small car Eon to premium SUV Tucson, with prices ranging from Rs 3.33 lakh and Rs 25.74 lakh.
Walmart inks 5-yr deal with Microsoft
New Delhi: Walmart on Tuesday said it has inked a five-year deal with Microsoft to leverage a broad base of cloud, artificial intelligence and Internet of Things solutions, a move that will help the retail giant further accelerate its digital transformation. While the terms of the deal were not disclosed, Walmart said it is now embarking on a broad set of cloud innovation projects that leverage machine learning, AI and data platform solutions for a “wide range of external customer-facing services and internal business applications”. Walmart was already using Microsoft services for critical applications and workloads, it said in a statement. As part of the agreement, Walmart has selected the full range of Microsoft cloud solutions, including Microsoft Azure and Microsoft 365 for enterprise-wide use to help standardise the company’s family of brands. Walmart and Microsoft engineers will also collaborate on the assessment, development, and support phase of moving hundreds of existing applications to cloud native architectures, the statement said.
Grofers to enter FMCG segment; eyes Rs 2,500 cr sales in FY19
Mumbai: Online grocery firm Grofers on Tuesday said it is entering the FMCG segment and is targeting an overall revenue of Rs 2,500 crore by FY19. Grofers closed FY 18 with Rs 950 crore of sales and is targeting for a stronger growth trajectory in 2019, with a 50 per cent contribution from its private brands. The company has launched seven new brands under two categories Budget and Popular G-Brands. “With this, Grofers’ private labels expands to 250 food and non-food products for its consumers. With this significant business expansion, Grofers aims to drive the next wave of growth for e-commerce sector by bringing the next 100 million customers to its platform,” it said in a statement. Grofers’ range of private label is priced approximately 5 to 50 per cent lower than the market price for popular brands in these categories, it claimed. The brand is bullish on growth with a revenue target of Rs 2,500 crore and roll out of over 500 SKUs for FY19, it added. Its presence would be in food products including tea, fruit jam, muesli, tomato ketchup, corn flakes, rose shahi sharbat and household categories of detergents, household care, oral care, tissues and disposables, kitchen tools and accessories, furniture and storage, among others.