Yesterday the big news was about Ratan Tata. Ratan Tata, former Chairman of the 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 around 11:30 pm on Wednesday evening. Tata was 86 years old.
When Tata died, business and political figures from around the world paid tribute to him. 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 rise 5% to Rs 11,909 in the second quarter of the financial year. Along with the results, the company also announced a dividend of Rs 10 per share to its shareholders.
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1. Ratan Tata cremated with state honors: guard of honor handed over first; Died last night at the age of 86
Ratan Naval Tata, Chairman Emeritus of Tata Sons, was cremated with state honors at 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 the final darshan. From there his final journey reached the Worli cremation ground.
He received a guard of honor before the funeral. Ratan Tata breathed his last on Wednesday around 11 p.m., 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 illnesses.
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2. TCS second quarter profit of ₹11,909 crore: It grew by 5% on a year-on-year basis, the company will also pay a dividend of Rs 10 per share.
India’s most valuable IT company, Tata Consultancy Services Limited (TCS), today reported results for the second quarter (Q2FY25) of the financial year 2024-25, i.e. on October 10. TCS’s consolidated net profit for 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 operating revenue grew 8% to Rs 64,259 crore on a year-on-year basis in Q2FY25.
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3. Garuda Construction IPO was done 4.12 times in two days: 6.76 times more subscribers in the retail category, today is the last day for auctions.
Today is the last day to bid for the initial public offering (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 the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 15. The company aims to raise ₹264.10 crore through this issue. For this, the company is issuing 18,300,000 new shares worth ₹173.85 crore. Whereas the existing investors of the company are selling 9,50,000 shares worth ₹90.25 crore through Offer for Sale i.e. OFS.
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4. Who will take care of Tata’s legacy after Ratan: his younger brother has retired; Half-brother Noel is a big competitor, he owns stakes in many companies
Ratan Tata, former Chairman of the Tata Group, passed away on Wednesday evening at the age of 86 around 11:30 p.m. After the departure of Ratan Tata, the question arises as to who will now manage the legacy of the Tata group. Question also because Ratan Tata had not designated his successor.
Currently, N Chandrasekaran is the chairman of Tata Sons, the largest company in the group, but above it is Tata Trust, run by members of the Tata family. Until his death, Ratan was the head of Tata Trust.
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5. Ratan Tata has invested in more than 45 startups: Many of these companies have become unicorns, know his five business lessons.
The demise of Ratan Tata is a big loss for the entire country, but he will be missed the most by startups. He invested early money in many startups like Upstox and Car Dekho. He has invested in around 45 companies, many of which have become unicorns.
The particularity is that they invested in startups when they were not leaders in their sector and were struggling with financial difficulties. These include names like Urban Company, CashKaro, Bluestone, Car Dekho and Traxon. Apart from this, he has also personally invested in a company like Lenskart, 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 .
Gold and silver prices fell today i.e. October 10. According to the 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, the price of silver is currently experiencing a sharp decline. It fell by Rs 308 to Rs 88,353 per kg. Previously, silver was at Rs 88,661. This year, silver touched its all-time high of Rs 94,280 per kg on May 29.
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