Monday, November 25
Times Network achieved a milestone of 104 million monthly unique users on its digital platforms as of August 2024, experiencing a 168% growth since February 2024. The network's success is attributed to expanding regional language content and new verticals like TimesDrive.in and health-focused platforms.
The Reserve Bank of India may expand the RTGS to include major currencies like the US dollar, euro, and pound sterling. This move aims to make cross-border payments more affordable and faster.
Sebi's Ananth Narayan lauds Indian equities for consistent 15% returns compared to China's negative or zero returns, urging investors to stay cautious of risks. Highlighting FY24's 28% benchmark indices return, he advises against complacency and urges seeking guidance from trustworthy sources while avoiding unregistered influencers.
Stock market today: BSE Sensex, the 30-share benchmark index, surged by nearly 592 points on Monday, driven by gains in IT and banking shares and a positive trend in global markets.
India's foreign exchange reserves dropped by USD 3.709 billion to USD 701.176 billion as of October 4, according to RBI data. This decline follows an earlier surge, with significant decreases in foreign currency assets, gold reserves, SDRs, and the IMF reserve position. The decline in assets notably included the impact of exchange rate movements of the euro, pound, and yen.
Indian equity markets saw declines as BSE Sensex fell 230 points and Nifty50 dropped by 34 points, closing at 81,381.36 and 24,964.25 respectively. Market sentiment was influenced by sector-specific movements and global cues including Wall Street's performance and oil price fluctuations.
Ratan Tata's strategic acquisitions, starting with Tetley in 2000 for $432 million, transformed Tata Group into a global powerhouse. He orchestrated over 60 acquisitions, including Jaguar-Land Rover. While successes mounted, not all ventures thrived, such as Tata Steel's Corus purchase. The journey redefined India's corporate footprint internationally.
Ratan Tata guided the Tata Group into new sectors like telecom and cars, and drove innovation with projects like the Indica and Nano. He oversaw over 60 acquisitions and took TCS public. After appointing and later replacing Cyrus Mistry, his philanthropic efforts through Tata Trusts transformed healthcare and education. Post-retirement, he invested in startups like Upstox and Ola Electric.
Following Ratan Tata's passing, Tata Trusts faces a crucial decision in selecting a new chairman. With Noel Tata emerging as the likely candidate, his appointment would uphold the tradition of having a Parsi leader and maintain a connection to the founding family.
Ratan Tata's legacy lives on through his impactful yet humble leadership. Known for his integrity and commitment, he turned challenges into triumphs, exemplified by his role in launching the Nano car and uniting the Tata Group during tumultuous times. His grace and dedication leave a lasting mark on India's business landscape.
