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: Electric two-wheeler manufacturer PURE EV announced plans on Wednesday to expand its dealership network to over 320 outlets across India by mid-2027. The company plans to launch PuREPower in 2025, leveraging its vehicle battery and powertrain platform. «Over the next 30 months, we aim to add 250 new dealerships, expanding our network to over 320 across India. This growth will be fueled by increasing demand for long-range scooters, electric motorcycles, large B2B contracts, and our entry into the household brand segment,» PURE EV Founder and MD Nishanth Dongari said. The company currently operates with 70 dealerships.

Star Cement on Wednesday dismissed reports suggesting that Adani Group’s Ambuja Cement is evaluating a potential acquisition of the company to expand its presence in the North East. The company labeled the claims as speculative and clarified that no such discussions are underway. In a filing to the stock exchanges, Star Cement stated, “With reference to the news item that appeared in ‘Money Control,’ we hereby clarify that the above-mentioned news item is speculative, and the company is not engaged in any discussions in this regard.” The company further emphasised its commitment to regulatory compliance, saying, “We have always made and will continue to make disclosures in compliance with our obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.”

Century Real Estate has reported a stellar 2X year-on-year (YoY) growth in sales, achieving ₹1,040 crore in the first half of FY 2024-25. With a strong pipeline of new launches in prime locations, the company is eyeing ₹2,000 crore in sales for the fiscal year. Mahesh Prabhu, CEO of Century Real Estate, said, “Our growth is a testament to our unwavering focus on embellishing Bengaluru’s skyline with world-class developments. At Century, we believe our people are our greatest asset. Their innovation and expertise are driving our vision forward as we bring our prime land banks into new developments. These upcoming launches will offer unmatched locations, world-class homes, and top-tier amenities." Century Real Estate posted its highest-ever quarterly sales of ₹507 crore in Q2 FY25. Key pre-launch projects, Codename Built Rare and Codename Unbelievable, collectively generated over ₹700 crore in sales during H1 FY25, even before their official launches. Codename Built Rare alone contributed ₹450 crore, reflecting strong demand for luxury residences in premium areas like Indiranagar.

Elon Musk’s Starlink in India. “No Sir. The Telecommunications Act, 2023 provides for assignment of spectrum through administrative process for satellite-based services, listed in First Schedule of the Act,” Minister of state for communications and rural development Pemmasani Chandra Sekhar said in reply to a question if the decision was made to facilitate entry of Starlink into the Indian market. To a query around projected revenue loss as a result of not auctioning satellite spectrum, the Minister said spectrum assigned administratively are also chargeable and hence contribute to revenue.

Suzlon Group on Wednesday said the company has secured an additional wind project of 302.4 megawatt from Jindal Renewables in Karnataka. In October, Suzlon had announced securing a 400-megawatt (MW) wind power deal from Jindal Renewables Power. «Suzlon and JSP Green Wind 1, a subsidiary of Jindal Renewables, have expanded their partnership with an additional 302.4 MW wind power project in the Koppal region of Karnataka,» the group said in a statement. The second order brings the total capacity from Jindal Renewables to 702.4 MW, making it Suzlon's largest-ever commercial and industrial (C&I) order from a single customer.

Bharti Airtel, India’s second largest telco, has awarded a multi-billion deal to Swedish telecom gear maker Ericsson for extension of 4G and 5G contracts. “As per the new contract, Ericsson will deploy centralized RAN and Open RAN-ready solutions for network transformation which will help customers with wider coverage and enhanced capacity on the network. Ericsson will also undertake the software upgradation of its current deployed 4G radios thereby enhancing the customer experience,” the companies said in a joint statement Wednesday. ET had reported last month that the telco had likely finalised renewals worth $1.2 billion (about Rs 10,000 crore) with Ericsson, Nokia and Samsung and placed purchase orders for new 4G and 5G equipment.

For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion

Subscribe to enjoy similar stories. Elon Musk’s record-breaking Tesla compensation package has hit another roadblock, after a Delaware judge on Monday again rejected the pay deal, now worth nearly $100 billion. The ruling presents a dilemma for Tesla’s board of directors, who had warned that Musk’s pay package as CEO is vital to keep the serial entrepreneur’s attention on the carmaker at a time when electric-vehicle sales are under pressure.

credit card additions at Indian lenders even through the festive season, with analysts anticipating a circumspect approach from banks as pockets of the consumption economy show signs of a demand fatigue. Latest Reserve Bank of India (RBI) data published recently showed credit card additions fell almost 50% year-on-year in October, taking the total card base to about 107 million. Lenders added 786,000 new cards for the month over September. «Net new card additions are expected to moderate in the near term due to rising delinquencies in the credit card receivables,» said Bunty Chawla, research analyst at IDBI Capital Markets. «Most lenders remain cautious on new card disbursements also due to RBI's risk weight norms. Though we expect card spends to remain range bound in the coming months.»

finance ministry that they will continue to deny investigative agencies permission to investigate their employees unless they are provided with material evidence of wrongdoing. The finance ministry is meeting with the CEOs and chief vigilance officers (CVO) of PSU lenders today (Wednesday) on resolving conflicts between banks and investigative agencies probing bank officials. According to the banks, investigative agencies have initiated probes on the basis of suspicion and not evidence, and the investigation process is humiliating and often followed by raids. «It demoralises other employees who are not on the radar,» a senior banker said. The agencies contend that the denial of permission to investigate bankers for alleged frauds has resulted in a significant backlog of unresolved cases.

Alliance Air will operate two flights a week from Guwahati to Ziro in Arunachal Pradesh, an official said on Tuesday. The domestic carrier will operate flights on Mondays and Wednesdays, Lower Subansiri deputy commissioner Vivek HP said. The flight will depart from Guwahati at 12.10 pm and land in Ziro at 1.25 pm. The return flight from Ziro will leave for Guwahati at 1.50 pm and reach there at 3.05 pm. Ziro has established itself as a MICE tourism destination, and with the beginning of the direct flights from Guwahati to Ziro, tourism in the valley will receive a boost, he said.

GMR Infra Enterprises by a trust linked to the Abu Dhabi Investment Authority (ADIA). In a statement, the regulator said Platinum Stone A 2014 Trust (acting through its trustee Platinum Rock B 2014 RSC) had proposed to subscribe to unlisted and unrated optionally convertible debentures (OCDs) of GMR Infra Enterprises. GMR Group had in October said it had secured Rs 6,300 crore debt funding from ADIA and that the proceeds will be utilised for refinancing loans of GMR Enterprises, the promoter of GMR Airports.

Indian exports, commerce and industry minister Piyush Goyal said in Lok Sabha. This has resulted in increased time for goods to reach international markets. “No shortage of containers has been, however, reported on account of the longer voyage time or the Red Sea conflicts issues and Russia-Ukraine War,” he said. He also said limited demand for containers manufactured in India and accordingly the limited manufacturing capacity for containers in the country.

Tesla CEO Elon Musk wrote on X after a judge ruled on Monday that Musk is not entitled to receive a $56 billion compensation package. The ruling came despite shareholders of the electric vehicle company voting in June to reinstate Musk's pay package which was thrown out by the same judge in January. The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk’s 2018 compensation package. The compensation package initially carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla’s stock price. How was Musk's compensation structured?

Banking Laws (Amendment) Bill, 2024 was passed on Tuesday in the Lok Sabha during the winter session of Parliament, proposing significant changes to banking regulations. «Banks are being professionally run today. The metrics are healthy so they can go to the market and raise bonds, raise loans & run their business accordingly,» said Finance Minister Nirmala Sitharaman in her address at the Lower House of the Parliament. Among its key provisions, the Bill allows depositors to nominate up to four individuals for their bank accounts or fixed deposits, replacing the current single-nominee system. The move aims to simplify fund distribution after the death of an account holder, a problem which arose during the COVID-19 pandemic.

PNB Housing Finance aims to expand its loan book size to Rs 5,000 crore by the end of the current financial year. The mortgage lender closed the loan book under the affordable segment called 'Roshini' at Rs 3,000 crore at the end of the second quarter of FY'25. «We hope to expand our loan look under the affordable housing segment to Rs 5,000 crore by this year-end to touch Rs 15,000 crore by March 2027,» PNB Housing Finance MD and CEO Girish Kousgi told reporters here. The loan growth will be helped by implementation of Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY 2) and branch expansion.

CBSE) is considering introducing two levels of science and social science — standard and advanced — for students in Classes 9 and 10, according to officials. The board already offers two levels of mathematics for Class 10 students. Its curriculum committee has approved the idea, which is in line with the new National Education Policy (NEP). However, the board's governing body is yet to give its nod. According to the NEP, all subjects and corresponding assessments, beginning with mathematics, could be offered at two levels with some students studying subjects at the standard level and others at the advanced level. «The proposal was approved by the curriculum committee. However, the logistics and the framework are yet to be worked out. Currently, we offer only one subject at two levels in Class 10. While the syllabus for students opting for maths (standard) and maths (basic) is the same, the question papers and the difficulty level of the questions in the board exam differ,» a senior CBSE official said.

Skoda recently launched its first subcompact SUV, the Kylaq, priced between Rs 7.89 lakh and Rs 14.4 lakh. Built on the MQB-A0-IN platform, the Kylaq measures under four meters in length and competes with models like Hyundai Venue, Kia Sonet, Tata Nexon, and Maruti Suzuki Brezza. It is powered by a 1.0-liter turbo-petrol engine delivering 115 hp and 178 Nm of torque, paired with either a six-speed manual or automatic gearbox. The SUV boasts several premium features, including an 8.0-inch digital cluster, a 10.0-inch touchscreen with wireless Apple CarPlay and Android Auto, ventilated seats, a single-pane sunroof, and a six-speaker Canton sound system. On the safety front, it includes six airbags, ABS with EBD, traction control, and ISOFIX mounts. The third-generation Honda Amaze is set to debut on December 4, introducing an updated design and enhanced interior with improved safety features. Prices are expected to start at ₹7.8 lakh (ex-showroom). The new Amaze borrows styling cues from the Honda Elevate and City, featuring an upright grille, sleek LED headlights, and a reimagined bumper. While its side profile remains similar to the outgoing version, the rear design echoes the Honda City’s aesthetic. Inside, the Amaze incorporates a free-standing infotainment system, digital cluster, and advanced safety systems such as ADAS. It retains the 90 hp, 1.2-liter naturally aspirated petrol engine, paired with either a 5-speed manual or CVT.

The issues were taken up at a meeting between Commerce and Industry Minister Piyush Goyal and Steel and Heavy Industries Minister H D Kumaraswamy. Officials said the steel ministry proposed a 25% safeguard duty on certain steel imports to check the influx of steel without payment of any customs duty or at low duty from the Asean nations under an existing Free Trade Agreement (FTA) with India amid Chinese companies setting up large steel manufacturing capacities in the region.

Jaguar on Monday revealed its electric Type 00 concept car during Miami Art Week, showcasing the company's new design and electric vehicle strategy. The concept, a part of its newly rebranded identity, was released days after billionaire Elon Musk mocked its previous ad for being 'woke'. Last month, the company released a 30-second spot showing diverse models and bright colors. The advertisement was panned by several who said it was «woke» including Tesla and X CEO Elon Musk mocked the ad saying, “Do you sell cars?" The luxury British carmaker has filled in some of the blanks by revealing a concept car. The Type 00, named to represent zero emissions and its position as the first of a new generation, features a long hood, curved roofline, and boat-tail rear. This design was made possible by Jaguar's new electric platform called JEA. The company also confirmed plans for a new four-door GT car, set to release in late 2025. This production model is projected to have a range of up to 478 miles (770km) and fast-charging capability.

Sri Lankan port’s expansion led by the Adani Group is progressing as scheduled, a top local official said, even as the fate of $553 million in American funding for the project remains uncertain following the indictment of the Indian conglomerate’s executives in the US. Construction at the Colombo West International Terminal remains ongoing, with phase one of the project still set for completion in early 2025, said Sirimevan Ranasinghe, chairman of the Sri Lanka Ports Authority, a minority shareholder in the project. “We are continuing as per our agreement,” Ranasinghe told Bloomberg News. He said the US financing had not been finalized and declined to comment further on its status, adding that it was up to the joint-venture company developing the project to secure financing.