Automobile major Tata Motors on Thursday reduced prices of its electric vehicle (EV) -- Tigor EV -- by up to Rs 80,000 on the back of the recent cut in GST rates of all electric-powered vehicles

"In light of the recent announcement made by the government to slash the GST rates of all electric-powered vehicles from 12 per cent to 5 per cent, the price of Tata Motors' EVs, will be reduced by up to Rs 80,000 starting August 2019," said Shailesh Chandra, President - Electric Mobility Business and Corporate Strategy, Tata Motors.

Recently, the GST Council slashed rates on all electric-powered vehicles from 12 to 5 per cent. 

The price reduction will be valid across all the variants of Tigor EV -- XE (base), XM (premium) and XT (high) -- the company said. 

Accordingly, the Tigor EV, which was earlier priced between Rs 12.35 lakh to Rs 12.71 lakh (ESP Mumbai), will now be available to customers at a starting price of between Rs 11.58 lakh to Rs 11.92 lakh.

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The loan book is expected to grow by 17 percent YoY with healthy all-round growth across the segment.

Axis Bank, India's fourth-largest private sector lender by market capitalisation, is expected to report healthy numbers for June quarter (Q1) on July 30. The earnings result will be closely watched by the Dalal Street especially after its closest peer ICICI Bank reported better-than-expected earnings on all fronts.

Most brokerages expect more than two-fold increase in its Q1FY20 profit on lower provisioning and stable operational income YoY. They also expect double-digit growth in NII and the loan book, compared to year-ago, with stable asset quality.

"Traction in advances is seen improving 15 percent YoY led by a focus on high yielding retail and MSME loans. A decline in G-Sec yield is expected to aid trading income leading to a positive impact on PAT. PAT is seen at Rs 1,725 crore on the back of stable operational performance and lower provisions," ICICI direct said.

The lender had reported a profit of Rs 701.1 crore in the corresponding quarter of the previous year and Rs 1,505.1 crore in Q4FY19.

According to Narnolia Securities, the loan book is expected to grow by 17 percent YoY with healthy all-round growth across the segment.

Earlier, the management said it expected the domestic loan book to grow 5-7 percent above the industry level while the international book is expected to stabilise in the next two quarters.

The retail segment is likely to be driven by home loan and unsecured loan book, Narnolia said, adding that the bank's strategy on retail assets continues to centre existing customer base. 83 percent of retail assets originations in Q4 were from existing customers.

On the asset quality front, ICICI direct said with no material exposure towards IL&FS, ADAG group, DHFL, etc. slippages are seen lower leading to lower credit cost of 46 bps, and asset quality is expected to largely remain stable with GNPA ratio at 5.2 percent.

The bank is also expected to report double-digit growth in non-interest income (other income), as well as in operating income, which will also boost profitability.

"Other income is expected to grow by 20 percent YoY driven by healthy fee income and treasury profit during the quarter. Corporate fee income is also expected to pick up going ahead," said Narnolia which expects pre-provision operating profit growth at 16 percent YoY.

Key issues to look out for include quantum of corporate slippages from BB and below list and any revision in the size of the stressed assets, outlook on the power assets and CASA performance.

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