What the business news this week india in English. Let's take a brief look at
what's in business news this week.
Maruti 800 completes 40 years
One of
India's famous
cars, the Maruti 800 car, which was the first symbol of the Maruti Suzuki
company, was launched on December 14, 1983. Sales of passenger vehicles in
India, which had been stagnant till then, were phenomenal after its
introduction. The Maruti 800 turned the dominance of Hindustan Motor
Company's 'Ambassador' and 'Premier Padmini' cars upside down.
The Maruti 800 was called the 'people's car', fulfilling the dream of buying
a car for most of the middle class people. In 2014, the company completely
stopped the production of Maruti 800. So far, a total of 29.20 lakh Maruti
800 cars have been produced.
BSE, market cap at record high
The
market capitalization of companies listed on the Mumbai Stock Exchange has touched
a new all-time high of Rs 354.41 lakh crore. Also, the value of investors'
assets also rose by Rs 3.22 lakh crore in a single day yesterday.
Stock markets around the world were upbeat after the US Federal Reserve said
it is likely to cut interest rates by 0.75 percent next year without raising
interest rates. Due to this, the value of companies listed on the Bombay
Stock Exchange reached Rs 354 lakh crore.
Bank of England not raising interest rates
As concerns about the state of the UK economy continue, its central bank,
the Bank of India, has announced that it will keep interest rates unchanged.
Due to this, the interest rate is set to remain at a 15-year high of 5.25
percent. The same situation has been going on since last August.
The Bank
of England has been raising interest rates for the past 2 years to control
the continued inflation. Inflation is currently at 4.60 percent.
The US Federal Reserve left interest rates unchanged
The US Federal Reserve left interest rates unchanged for the third time in a
row. Thus the interest rate continues at 5.40 percent. It was seen as a
signal from the bank that after announcing the highest rate hike in 40 years
to control inflation, there will be no more interest rate hikes.
The Federal Bank said that although inflation has slowed down, it is still
increasing and the interest rate is likely to be cut by 0.75 percent in the
second half of next year.
Economic growth at 6.70 percent A.D.P.,
The Asian Development Bank has raised its forecast for the growth of the
Indian economy to 6.70 per cent from the previous 6.30 per cent.
In the September quarter, India's economy grew more than expected, raising
its forecast to 6.70 percent for the current financial year. In the current
financial year, although India's agriculture sector growth will slow
slightly, industrial sector growth will offset this, and the inflation
forecast for the current fiscal year will remain at 5.50 percent, it said.
Inauguration of 'Tata Technologies' Center in Coimbatore
Tata Technologies has started an innovation center in Coimbatore, focusing
on automotive software. Through this center, it will provide development,
testing and integration of automotive software solutions to customers
worldwide.
In the first phase, it is planned to recruit 100 software experts from
Coimbatore district. The center will also provide new opportunities for
local talent to work on global projects, Tata said.
'Spice Jet' to raise Rs 2,250 crore
Troubled Spice Jet has announced plans to raise Rs 2,250 crore in capital.
SpiceJet plans to use the funds raised to overcome prolonged financial
crisis, market expansion and upgrade existing aircraft. The company's loss
for the quarter ended September of the current financial year was Rs 428
crore.
'Volkswagen' price hikes from January
Volkswagen car company, In India, it plans to increase the price of its
passenger cars from January 1. Considering the rising input and material
cost, it has decided to increase the price depending on the model.
Already, Maruti Suzuki, Hu Toy, Tata Motors, Mahi Dira, Honda, Audi, B.M.
Many car companies, including W., have announced price hikes.