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Here are the top stories to start your day.
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⭐ Maruti Suzuki to enter mid-SUV segment
Auto major Maruti Suzuki is focusing on the SUV segment as the key area to lift its overall market share in the country. Currently, the company's overall market share is under 45% and it is looking to increase it to 50%. The management said that there is a need to enter the mid-SUV segment, and the company is planning to launch a model in the last week of September.
⭐ Telecom industry to scale new highs
According to an industry report, the telecom industry is set to cross the ₹10 lakh crore mark by next year and is expected to cross ₹13 lakh crore by 2025. The report states that the sector is likely to add ₹1 lakh crore every three years against the previous trend of adding the same amount in a four-year period. It also says that the sector is expected to grow at a CAGR of 9.4% between 2020-2025, while the smartphone industry will lead the growth at a CAGR of 15.9% during this period.
⭐ Oil prices plunge
Oil prices plummeted to their lowest since January 2022, with a rising dollar and global demand concerns weighing on prices. On Wednesday, the West Texas Intermediate (WTI) crude was trading below $85, while Brent crude fell below $90. On Monday, OPEC agreed to cut oil output for the first time in a year. The move is aimed at stabilising international crude oil prices, which have been on a decline over the last three months. OPEC will reduce production by 100,000 barrels per day in October.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.65% |
| Nikkei 225 (Japan) | ▲ 2.05% |
| Hang Seng (Hong Kong) | ▼ 0.51% |
| SSE Composite (China) | ▼ 0.15% |
| Dow Jones (US) (September 07) | ▲ 1.4% |
| NYSE (US) (September 07) | ▲ 1.41% |
| Nasdaq (US) (September 07) | ▲ 2.14% |
| S&P 500 (US) (September 07) | ▲ 1.83% |
Fact of the day
Turkey’s annual inflation crossed a whopping 80% in August after a cut in interest rate.
Source: Economic Times