Maruti to recall its cars

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⭐ Maruti to recall its cars

Maruti Suzuki is recalling nearly 10,000 units of its three models Wagon R, Celerio and Ignis to address the possible defect in the rear brake assembly. The vehicles that are being recalled are manufactured between 3 August and 1 September 2022. Back in September 2022, the company did a similar recall of 1.8 lakh units of different models.

⭐ NTPC’s profit falls 

Power utility company NTPC has reported a 7.4% year-on-year drop in its consolidated net profit at ₹3,417 crore during the September quarter. However, its consolidated revenue stood at ₹44,175 crore, up 36% YoY. Rise in fuel costs impacted the overall quarterly performance. Meanwhile, the total installed capacity of the company stood at 70.2 GW.  

⭐ Seshasayee Paper posts revenue growth 

Seshasayee Paper and Boards has reported 58% rise in its consolidated revenue at ₹530 crore during the second quarter of FY23. Meanwhile, its net profit saw a massive rise of over 286% to ₹106 crore during the period. 

Global markets (at 7:30 AM today)

Fact of the day

As per ministry of commerce, the valuation of the Indian startup ecosystem has reached nearly ₹3 lakh crore.

Source: Business Standard