Saturday, November 30
The Supreme Court of India has dismissed the special leave petition of space startup Devas Multimedia, relating to a $562.5 million award made in its favor by the ICC International Court of Arbitration in 2015. The court stated that the order did not require interference, effectively putting an end to Devas' legal remedies in enforcing the award in India.
Maruti Suzuki plans to invest around Rs 1.3 lakh crore in capital expenditure (capex) till 2030-31. The company aims to expand its product range from 17 to 28 models and increase production capacity to 40 lakh units per annum. The capex will be used to enhance existing plants, create new capacity, and develop new models with different fuel options.
Oil marketing companies are expected to lead the surge in earnings during the upcoming results season, driven by strong domestic demand. Sectors like automobiles, banks, capital goods, commodity chemicals, construction material, and metals & mining are also predicted to report strong earnings growth. However, technology stocks are expected to have muted growth. Banks may have weaker operating profit growth, but earnings will be supported by lower provisions.
Mundra Port, the largest commercial port in India, celebrated its 25th anniversary. Since its first ship berthed in 1998, the port has contributed over Rs 2.25 lakh crore to the state and national exchequer. The port boasts the largest coal, natural gas, and auto terminals, and serves as the gateway for container traffic. Mundra port now handles over 155 MMT of maritime cargo, accounting for nearly 11% of India's total. CEO Karan Adani believes their journey has just begun.
The shekel had already weakened by 10% in 2023 due to political instability. Given the expected duration of the conflict with Hamas in Gaza, further depreciation of the shekel was anticipated.
According to the 'Britain Meets India' report, there are 635 UK companies incorporated in India, with a combined turnover of Rs 4,88,840 crores and employing around 666,992 people.
A new plan is in works to help ease Bengaluru, Delhi traffic congestion. The government is developing a comprehensive plan to address traffic congestion in Bengaluru and New Delhi by creating a multi-modal transport infrastructure.
"The epicenter of global energy is undeniably the focal point of ongoing activities. As we progress, we will navigate through these developments," Puri said during a press briefing at an industry event in New Delhi.
