Yesterday the big news was related to Ratan Tata. Ratan Tata, former chairman of Tata Group, was cremated with state honors at the Worli crematorium in Mumbai on Thursday, October 10. He died at Breach Candy Hospital in Mumbai at around 11:30 pm on Wednesday night. Tata was 86 years old.
On the death of Tata, people from business and political world from all over the world paid tribute. Prime Minister Narendra Modi wrote on his X account- 'Ratan Tata was a visionary business leader and an extraordinary human being. He provided stable leadership to one of India's oldest and most prestigious business houses.'
Tata Consultancy Services Limited (TCS), India's most valuable IT company, saw its profit increase by 5% to Rs 11,909 in the second quarter of the financial year. Along with the results, the company has also announced a dividend of Rs 10 per share to its shareholders.
Before tomorrow's big news, today's major events to keep an eye on…
- There may be a rise in the stock market today (Friday).
- There has been no change in the prices of petrol and diesel.
Now read tomorrow's big news…
1. Ratan Tata cremated with state honours: Guard of honor given first; Died last night at the age of 86
Ratan Naval Tata, chairman emeritus of Tata Sons, was cremated with state honors at the Worli crematorium in Mumbai on Thursday, October 10. Earlier, the mortal remains were kept at the National Center for Performing Arts (NCPA) at Nariman Point for last darshan. From here his last journey reached the cremation ground of Worli.
He was given a guard of honor before the funeral. Ratan Tata breathed his last at around 11 pm on Wednesday at the age of 86. He was admitted to the Intensive Care Unit (ICU) of Breach Candy Hospital in Mumbai and was suffering from age-related ailments.
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2. TCS's profit of ₹ 11,909 crore in the second quarter: It increased by 5% on annual basis, the company will also give dividend of Rs 10 per share.
India's most valuable IT company Tata Consultancy Services Limited (TCS) has released the results of the second quarter (Q2FY25) of the financial year 2024-25 today i.e. on October 10. TCS's consolidated net profit in the July-September quarter stood at ₹11,909 crore, up nearly 5% year-on-year.
The company had made a net profit of Rs 11,342 crore in the same quarter a year ago. At the same time, the company's revenue from operations has increased by 8% to Rs 64,259 crore on an annual basis in Q2FY25.
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3. Garuda Construction's IPO filled 4.12 times in two days: 6.76 times more subscribed in retail category, today is the last day for bidding.
Today is the last day to bid for the Initial Public Offer (IPO) of Garuda Construction and Engineering Limited. This IPO was subscribed a total of 4.12 times in two days. The issue was subscribed 6.76 times in the retail category, 0.91 times in the Qualified Institutional Buyers (QIB) category and 2.59 times in the Non-Institutional Investors (NII) category.
The company's shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 15. The company wants to raise ₹264.10 crore through this issue. For this, the company is issuing 18,300,000 fresh shares worth ₹173.85 crore. Whereas, the existing investors of the company are selling 9,500,000 shares worth ₹90.25 crore through Offer for Sale i.e. OFS.
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4. Who will handle Tata's legacy after Ratan: Younger brother retired; Step brother Noel is a big contender, he has stake in many companies
Ratan Tata, former chairman of Tata Group, died at the age of 86 at around 11:30 pm on Wednesday night. After the departure of Ratan Tata, the question arises that who will now handle the legacy of Tata Group. Question also because Ratan Tata had not appointed his successor.
Currently, N Chandrasekaran is the chairman of Tata Sons, the largest company of the group, but above this is Tata Trust, which has been headed by members of the Tata family. Till his death, Ratan was the head of Tata Trust.
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5. Ratan Tata invested in more than 45 startups: Many of these companies became unicorns, know his five business lessons.
Ratan Tata's demise is a big loss for the entire country, but startups are going to miss him the most. He invested early stage money in many startups like Upstox and Car Dekho. He invested in about 45 companies, many of which have become unicorns.
The special thing is that they invested in startups when they were not leaders in their sector and were struggling with money crunch. These include names like Urban Company, CashKaro, Bluestone, Car Dekho and Traxon. Apart from this, he also personally invested in a company like Lenskart which is a competitor of his company Titan.
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6. Fall in gold and silver prices today: Gold fell by ₹ 171 to ₹ 74,838, silver became cheaper by ₹ 308 and was being sold at ₹ 88,353 per kg.
There was a decline in the prices of gold and silver today i.e. on 10th October. According to India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold fell by Rs 171 to Rs 74,838. Earlier its price was Rs 75,009 per ten grams.
At the same time, there is a big fall in the price of silver today. It fell by Rs 308 to Rs 88,353 per kg. Earlier, silver was at Rs 88,661. This year, silver has reached its all-time high of Rs 94,280 per kg on May 29.
Also see who were the top 10 richest people in the world yesterday…
Know the condition of tomorrow's stock market and gold and silver…
Know the latest price of petrol, diesel and gas cylinder…
Graphics Source: VaskarAssets
