## Market Meltdown, Ratan Tata’s Will, and More: Top News Headlines from October 25
Indian investors woke up to a wave of red on October 25 as the stock market experienced a significant downturn. The Sensex, India’s benchmark index, plunged 663 points (0.83%) to close at 79,402.29. The Nifty 50 also took a hit, plummeting 219 points (0.90%) to finish at 24,180.80. This marked the fifth consecutive day of losses for both indices, with the Sensex falling 2.2% and the Nifty 50 dropping 2.7% for the week.
Beyond the Market Downturn:
While the stock market turmoil dominated headlines, other significant news unfolded across various sectors.
Ratan Tata’s Legacy:
The will of the legendary industrialist, Ratan Tata, was finally made public. The document revealed details of his substantial legacy, including provisions for his half-sisters, Shireen and Deanna Jejeebhoy, and his dedicated staff. Notably, his beloved German Shepherd, Tito, also received a mention in the will. Furthermore, Ratan Tata’s mentee, Shantanu Naidu, was included in the will, with Tata relinquishing his ownership interest in Naidu’s companionship venture, Goodfellows, and waiving his education loans. Tata’s estimated wealth is valued over ₹ 10,000 crore.
India-Germany Ties Strengthen:
In a boost to India’s skilled workforce, Germany announced an increase in visas for Indian workers. The quota has been raised from 20,000 to 90,000, paving the way for more Indian professionals to pursue opportunities in Germany. Prime Minister Modi expressed his satisfaction with this development, highlighting its positive impact on India’s growth trajectory.
Rhea Chakraborty Case Update:
The Supreme Court dismissed an appeal by the Maharashtra government challenging the Bombay High Court’s order quashing look-out circulars issued against actress Rhea Chakraborty, her father, and brother. The Supreme Court bench criticized the appeal as frivolous, noting the high-profile nature of one of the accused.
Other Notable Stories:
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IndiGo’s Q2 Results:
The airline reported a consolidated net loss of ₹ 986.7 crore, a significant drop from the previous year’s net profit. Revenue increased, but costs rose due to fuel expenses and groundings.*
JSW Steel Q2 Results:
The steel giant saw an 85% decline in net profit due to an exceptional loss and higher taxes. Revenue also dropped by 11%.*
Hoax Bomb Threats:
Over 70 flights operated by Indian airlines were disrupted due to hoax bomb threats.*
Fadnavis and Wife Declare Assets:
Deputy CM Devendra Fadnavis and his wife, Amruta, have declared a combined net worth of ₹ 13 crore ahead of the Maharashtra Assembly polls. Interestingly, they do not own any cars.Stay tuned for further updates on these and other important developments.