New Delhi1 month ago
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Yesterday’s big news was related to Maruti Suzuki. Maruti Suzuki’s upcoming sedan Dezire has received a 5-star safety rating in the Global NCAP crash test. With this, it has become the first car of the company, which has received 5 star rating for adult and 4 star rating for child safety from any crash test agency.
Business News Update, Musk’s net worth increased by Rs 2.50 lakh crore. Dezire is Maruti’s first car with 5-star safety rating: Tata Motors’ profit declined by 11% in the second quarter, Musk’s net worth increased by Rs 2.50 lakh crore.
At the same time, automobile company Tata Motors has made a net profit (consolidated net profit) of Rs 3,343 crore in the second quarter of the financial year 2024-25. It has decreased by 11% on annual basis. The company had made a profit of Rs 3,764 crore in the same quarter a year ago.
Before tomorrow’s big news, today’s major events to keep an eye on…
- The stock market will remain closed today due to Saturday holiday.
- Asian Paints’ second quarter results will be announced.
- There has been no change in the prices of petrol and diesel.
Now read tomorrow’s big news…
1. Dezire is Maruti’s first car with 5-star safety rating: In Global NCAP crash test, it got 31.24 points for adult and 39.20 points for child safety.
Maruti Suzuki’s upcoming sedan Dezire has received a 5-star rating in the Global NCAP crash test. The agency released the crash test results on Friday (November 8). According to GNCAP, Dezire has got 31.24 out of 34 points for adult and 39.20 out of 49 points for child safety.
This is the first car from Maruti, which has received 5 star rating for adult and 4 star rating for child safety from any crash test agency. Earlier, Maruti’s Brezza had got the highest 4 star safety rating. At the same time, the third generation Dezire got only 2 star safety rating in the crash test.
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2. Tata Motors’ profit decreased by 11% in the second quarter: Revenue decreased by 3.50% to Rs 1.01 lakh crore, share fell by 20.61% in 6 months.
Automobile company Tata Motors has made a net profit (consolidated net profit) of Rs 3,343 crore in the second quarter of the financial year 2024-25. It has decreased by 11% on annual basis. The company had made a profit of Rs 3,764 crore in the same quarter a year ago.
The company’s income from operations in the July-September quarter stood at Rs 1.01 lakh crore. Tata Motors had earned Rs 1.05 lakh crore in the same quarter a year ago.
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3. Fed reduced interest rates for the second consecutive time: 50 in September, now cut by 25 basis points; Interest rate will be between 4.50% to 4.75%
The US Federal Reserve has cut interest rates by 25 basis points (0.25%). Now the interest rates will be between 4.50% to 4.75%. Earlier on September 18, the Fed had cut interest rates by 50 basis points (0.5%).
The September cut was made after about 4 years. The Fed had cut interest rates after March 2020 in September 2024. To control inflation, the Central Bank of America had increased interest rates 11 times between March 2022 and July 2023.
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4. Musk’s net worth increased by Rs 2.50 lakh crore in four days: After Trump’s victory it increased to Rs 24.58 lakh crore, he was the biggest supporter in the elections.
After the victory of Republican candidate and former President Donald Trump in the US elections, the net worth of his biggest supporter Elon Musk increased by about Rs 2.27 lakh crore.
A day before the elections (November 5), Musk’s net worth was Rs 22.31 lakh crore, which increased to Rs 24.58 lakh crore a day after the results i.e. on November 7.
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5. LIC’s second quarter profit declined by 3.8%: It stood at ₹ 7,729 crore, total income increased by 13.84% to ₹ 2,30,413 crore.
The consolidated net profit of the country’s largest insurance company LIC in the second quarter (July-September) of the financial year 2024-25 declined by 3.8% on an annual basis (YoY) to ₹ 7,729 crore. The company had made a profit of ₹8,030 crore in the same quarter a year ago.
Life Insurance Corporation of India (LIC) has released its second quarter results today i.e. on 8th November. The total income of the company has increased by 13.84% on annual basis.
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6. SBI’s second quarter profit increased by 28%: Total income increased by 15% to ₹ 1.29 lakh crore; Shares fell 2.47% after the results
State Bank of India (SBI), the country’s largest government bank, has made a net profit (standalone net profit) of Rs 18,331 crore in the second quarter of the financial year 2024-25. There has been an increase of 28% on annual basis.
A year ago, i.e. in the second quarter of the financial year 2023-24, the company had made a profit of Rs 14,330 crore. The total income of the bank increased by 15.13% on an annual basis in the July-September quarter to Rs 1,29,141 crore, which was Rs 1,12,169 crore in the same quarter last year.
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