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After two years of relative stability, the rupee’s sharp decline is beginning to impact Indian corporate earnings, prompting several companies to hedge their currency exposures. The sudden depreciation is particularly affecting firms with significant foreign exchange liabilities. InterGlobe Aviation Ltd., which operates IndiGo, India’s largest airline, saw its forex losses triple to ₹1,460 crore ($169 million) in the December quarter. Maruti Suzuki India Ltd., the country’s largest carmaker, also cited currency fluctuations as a factor negatively impacting its margins. Smaller companies are not immune to the rupee’s slide, with NIIT Learning Systems Ltd. reporting a forex loss of ₹1.4 crore and Tanla Platforms Ltd. experiencing a currency impact of ₹4.4 crore. More such losses are expected as earnings reports continue to emerge. The rupee has weakened by 2.4% against the US dollar over the past two months, marking the steepest decline among emerging Asian currencies. This has fueled speculation that the Reserve Bank of India (RBI) may have loosened its tight grip on the currency. While the RBI’s approach over the last two years helped curb volatility, it may have also led companies to underestimate forex risks. With economic growth slowing and global uncertainties rising, businesses are now scrambling to hedge their exposures amid expectations of further rupee declines. “There was some complacency that had set in because the rupee was so stable,” said Neeraj Gambhir, Group Executive for Treasury, Markets, and Wholesale Banking Products at Axis Bank Ltd. He noted an increase in hedging inquiries as currency volatility surged. Companies purchased $48 billion in forward cover in December, the highest for 2024, according to data from the Clearing Corp. of India. This spike in demand pushed up hedging costs by over a percentage point last month. IndiGo, in response to the rupee’s volatility, is exploring options to extend its hedging beyond the current 12-month period. The airline is currently covering up to 70% of its forex exposure for up to a year, according to its Chief Financial Officer, Gaurav Negi.

The Bharatiya Janata Party (BJP) secured a victory in the Chandigarh mayoral elections, winning with 19 votes against the 17 votes of the AAP-Congress alliance. BJP candidate Harpreet Kaur Babla defeated Aam Aadmi Party’s (AAP) Prem Lata in a closely contested election. The election, held in the assembly hall of the Chandigarh Municipal Corporation, was a significant political battle between the BJP and the AAP-Congress alliance. Polling commenced at 11:20 am and concluded at 12:19 pm. The Chandigarh Municipal Corporation comprises 35 members, including elected councillors and the Chandigarh Member of Parliament (MP), who has voting rights as an ex-officio member. Before the election, the seat distribution stood at AAP with 13 councillors, Congress with 6, BJP with 16, and 1 vote belonging to the Chandigarh MP (Congress). Ahead of the polls, Congress councillor Gurbax Rawat shifted allegiance to the BJP, increasing the party’s tally to 16. This defection played a crucial role in the final outcome. The election was conducted through a secret ballot, with nominated councillor Ramneek Singh Bedi serving as the presiding officer. Additionally, retired Punjab and Haryana High Court Justice Jaishree Thakur was appointed as an independent observer by the Supreme Court to oversee the election process.

Actor Siddharth, known for his candid opinions, recently spoke at the Hyderabad Literary Festival alongside singer-writer Vidya Rao, the mother of his wife, Aditi Rao Hydari. During the discussion, he reflected on his conscious decision to reject roles promoting toxic masculinity, despite the impact it had on his commercial success. Choosing Ethics Over Stardom Siddharth revealed that he turned down scripts featuring regressive tropes, such as slapping women, performing item songs, or dictating how female characters should behave. 📌 “I rejected them outright. Of course, I might be a far bigger movie star today if I was differently wired. But I did what I liked.” He added that this choice earned him long-term respect. “Today, people tell me I was respectful to women, good to parents and kids. Their children can watch my films from 15 years ago. That’s a gratifying feeling.” Breaking the Macho Hero Stereotype Siddharth spoke about how, while many actors embraced aggressive, hyper-masculine roles, he chose a different path. 📌 “When others were doing the ‘mard ko dard nahi hota’ (men don’t feel pain) kind of thing, I was happy to cry on screen.” Upcoming Projects 🎬 Last Seen In: Tamil film Miss You🎬 Next Release: The Test, starring Nayanthara and Madhavan🎬 Upcoming Role: Indian 3, directed by Shankar, who is also working on Game Changer with Ram Charan Siddharth’s choices continue to define his journey, proving that principles and integrity matter just as much as stardom. 4o

Filmmaker Aanand L Rai is set to reunite with Dhanush for an upcoming project titled Tere Ishk Mein, which also stars Kriti Sanon. The film marks a return to the world of Raanjhanaa, the 2013 romantic drama that saw Dhanush make his Bollywood debut. Music maestro AR Rahman, who composed for Raanjhanaa, is also part of the team. The announcement was made through a special video shared by trade analyst Taran Adarsh, confirming that Tere Ishk Mein is slated for release on November 28, 2025. The film is written by Himanshu Sharma and Neeraj Yadav, with Aanand L Rai, Himanshu Sharma, Bhushan Kumar, and Krishan Kumar producing the venture. Notably, it will be released in both Hindi and Tamil. Speaking about the project in an interview, Aanand L Rai revealed that the film stems from his desire to revisit the themes of love and tragedy. He recalled that after directing Tanu Weds Manu in 2011, he was intrigued by the idea of handling a more tragic story, which led to Raanjhanaa. Now, more than a decade later, he is excited to see his own evolution in the genre. When asked about the similarities between Raanjhanaa and Tere Ishk Mein, the director emphasized that both films share themes of passion, rage, and aggressive love. However, he assured that this will be a fresh story, offering a different perspective on relationships. With a powerful team of collaborators and a story that promises to delve into the depths of intense love, Tere Ishk Mein is shaping up to be a highly anticipated cinematic experience.

Amazon MGM Studios, in collaboration with Excel Entertainment and Tiger Baby, has announced the theatrical release date for its much-anticipated film, Superboys of Malegaon. The film will premiere on February 28, 2025, in India, the US, the UK, the UAE, Australia, and New Zealand. Directed by Reema Kagti and written by Varun Grover, Superboys of Malegaon features an ensemble cast, including Adarsh Gourav, Vineet Kumar Singh, Shashank Arora, and Anuj Singh Duhan. The film is produced by Ritesh Sidhwani, Farhan Akhtar, Zoya Akhtar, and Reema Kagti under the banners of Excel Entertainment and Tiger Baby. Inspired by real events, the film tells the story of Nasir Shaikh, an amateur filmmaker from Malegaon, a small town in Maharashtra. In a place where Bollywood films provide an escape from daily struggles, Nasir decides to make a film for the people of Malegaon, by the people of Malegaon. He brings together a group of friends to fulfill his creative vision, capturing themes of friendship, resilience, and the transformative power of cinema. After receiving critical acclaim at prestigious film festivals, including the Toronto International Film Festival (TIFF), the 68th BFI London Film Festival, the Palm Springs International Film Festival, and the Red Sea International Film Festival, the film is now set for its theatrical debut. Following its theatrical run, Superboys of Malegaon will be available for streaming on Prime Video, reaching audiences in India and over 240 countries and territories worldwide. With its heartwarming and inspirational narrative, the film promises to be a celebration of dreams, filmmaking, and the spirit of Malegaon.

A Mumbai court on Wednesday refused to extend the police custody of Mohammed Shariful Islam, a Bangladeshi national arrested in connection with the attack on actor Saif Ali Khan. Instead, the accused has been remanded to judicial custody for 14 days. Police Seek Extension for Further Investigation The prosecution argued that Islam had conducted a recce of Khan’s building before the attack and had made prior preparations. Officials also revealed that a team was in Kolkata investigating possible accomplices who aided Islam’s illegal entry into India and helped transfer money to his family in Bangladesh. Court Rejects Request The defense argued that the investigation was complete and that further police custody was unnecessary. The magistrate, after hearing both sides, denied the extension, stating:📌 “No fresh grounds have been noticed for extending police custody.”📌 Police can seek further custody only if new evidence emerges. Background of the Case 🔹 Date of Attack: January 16, 2025🔹 Location: Saif Ali Khan’s residence🔹 Incident: Attempted robbery gone wrong, leading to the attack🔹 Arrest: January 19, 2025, from Thane labour camp With Islam now in judicial custody, further investigations will focus on uncovering his possible network and entry route into India.

On Monday night at 8:40 PM, Air India’s Mumbai-bound flight AI 2957 sent an emergency signal to Delhi’s Air Traffic Control (ATC), indicating a possible hijack just after takeoff from Indira Gandhi International Airport. The distress signal immediately activated high-level security protocols, alerting the destination airport, security agencies, and the Indian Air Force. Swift Response Despite False Alarm Despite the pilot later clarifying that it was a false alarm, authorities did not assume it was an error. A former ATC official, speaking anonymously, explained the cautious approach:“ATC cannot assume that the pilot is not under duress. He could be at gunpoint, forced to declare everything is normal.” The flight, carrying 126 passengers, landed in Mumbai at 9:47 PM, where authorities had already declared a full emergency at 9:30 PM. An aerodrome committee was formed at Mumbai airport, and personnel from the local police, National Security Guard (NSG), and other stakeholders were deployed. The aircraft was moved to an isolation bay, and passengers were only allowed to deboard after an hour once security checks confirmed there was no threat. What Triggered the Alarm? According to Delhi airport officials, the situation arose when the aircraft’s transponder sent a ‘Squawk 7500’ code to Delhi ATC just after takeoff. The signal remained active for three minutes before being turned off. Understanding Squawk Codes:🔹 7500 – Unlawful interference (hijack) 🚨🔹 7600 – Radio communication failure 📡🔹 7700 – Aircraft emergency ⚠️ Since 7500 is specifically used for hijack situations, authorities treated it as a real threat until thorough verification was completed. Lessons from the Incident While this was a false alarm, it demonstrated the effectiveness of India’s aviation security protocols. The rapid mobilization of ATC, airport authorities, CISF, BCAS, IAF, and NSG ensured that all necessary precautions were taken. The incident highlights the importance of strict protocol adherence in aviation security, as any deviation could have catastrophic consequences. Authorities are now investigating the exact reason behind the false transponder signal.

The Indian Space Research Organisation (ISRO) reached a new milestone on Wednesday by successfully launching and placing the second-generation navigation satellite NVS-02 into orbit. The mission marked ISRO’s 100th rocket launch from the Satish Dhawan Space Centre in Sriharikota. The GSLV-F15 rocket, carrying the NVS-02 navigation satellite, lifted off from the second launch pad at 6:23 AM, and within 19 minutes, it reached a 322.93 km geosynchronous transfer orbit. This mission strengthens India’s Navigation with Indian Constellation (NavIC) system, designed to provide accurate positioning, velocity, and timing (PVT) services across India and surrounding regions. Significance of the Launch ISRO Chairman V. Narayanan highlighted the organization’s achievements, stating that ISRO has launched six generations of rockets, placing 548 satellites into orbit, weighing a total of 120 tonnes—including 23 tonnes of 433 foreign satellites. Some of ISRO’s notable missions include the Chandrayaan series, Mars Orbiter Mission, Aditya-L1, and the record-breaking 104 satellites in a single launch. S. Unnikrishnan Nair, Director of Vikram Sarabhai Space Centre, expressed confidence in achieving the 200th launch milestone at a faster pace due to India’s evolving space ecosystem. GSLV and NVS-02: A Leap in Navigation This was the 17th flight of the GSLV rocket and the 11th flight using an indigenous cryogenic stage. It also marked the eighth operational flight of GSLV with a cryogenic stage. The 2,250 kg NVS-02 satellite will replace IRNSS-1E in the NavIC constellation. Similar to NVS-01, which was launched on May 29, 2023, NVS-02 is equipped with an indigenous atomic clock for precise timekeeping. It incorporates Rubidium Atomic Frequency Standard (RAFS), serving as a highly stable frequency reference for navigation. NavIC: India’s Independent Navigation System NavIC is India’s regional navigation satellite system, providing two types of services: NavIC ensures a position accuracy of better than 20 meters and timing accuracy of better than 40 nanoseconds across its coverage area, which extends 1,500 km beyond India’s landmass. Future Enhancements & Applications The NVS series (NVS-01 to NVS-05) is set to enhance the NavIC base layer with improved features, including L1 band signals for better adoption in mobile devices. Key applications of NavIC include:✅ Strategic applications✅ Terrestrial, aerial, and maritime navigation✅ Precision agriculture✅ Geodetic surveying✅ Fleet management✅ Location-based services on mobile devices✅ Satellite orbit determination✅ IoT-based applications✅ Emergency and timing services With this successful launch, ISRO continues to strengthen India’s position in global satellite navigation, enhancing its strategic and civilian capabilities. 🚀

At least seven people lost their lives, and around 10 others were injured in a tragic stampede at the Maha Kumbh Mela in northern India on Wednesday. The incident occurred as tens of millions of devotees gathered for a holy dip on what is considered the most auspicious day of the six-week-long Hindu festival. The stampede took place between 1 a.m. and 2 a.m. (1930-2030 GMT Tuesday) near the arena of the ascetics, where barricades had been installed to control the crowds. Uttar Pradesh Chief Minister Yogi Adityanath confirmed the incident and stated that the state administration was actively working to assist the victims. Despite the tragedy, he assured that the situation was under control, though the crowd remained immense. Prime Minister Narendra Modi expressed his condolences in a post on X, mourning the loss of lives and assuring that local authorities were providing all possible support to those affected. However, he did not specify the exact number of casualties. A senior state official, speaking on the condition of anonymity, reported that more than seven people had died, and about 10 others sustained injuries. Videos and photographs from the aftermath depicted a heartbreaking scene, with bodies being carried away on stretchers, while distressed individuals sat on the ground weeping. Belongings such as clothes, shoes, backpacks, and blankets were scattered across the area as people fled the chaotic rush. A Reuters witness described seeing multiple dead bodies as ambulances rushed toward the riverbank, where the stampede occurred. Eyewitnesses recounted a massive push near the confluence of the three holy rivers—considered a particularly sacred site—which caused people to fall on top of one another. “We had barricades in front of us and police with batons on the other side. The push from behind was very powerful… people started falling,” said Vijay Kumar, a devotee from Patna who had traveled for the festival. “There were people lying all around. I don’t know if they were dead or alive.” A woman, who declined to share her name, told news agency that she and her mother were knocked down in the chaos. “People kept stepping on us,” she said, recalling the horrifying experience. Following the stampede, Chief Minister Adityanath urged attendees to avoid the affected area and cooperate with authorities to prevent further incidents. The tragedy has cast a shadow over the grand religious event, which attracts millions of pilgrims from across India and beyond.

In a significant development in the Saif Ali Khan stabbing case, a Mumbai police team tracked down Khukumoni Sheikh, a 33-year-old woman from Nadia district, West Bengal, whose SIM card was found in the possession of Mohammad Shariful Islam Shahzad, the Bangladeshi national accused of attacking the actor at his Bandra home on January 16. Khukumoni, a widowed mother of three who works as a caregiver, was questioned thrice on Monday by the eight-member police team. While no immediate links between her and the suspect were established, she was instructed not to leave the jurisdiction of Krishnanagar police without informing authorities. The SIM Card Trail The investigation led the Mumbai police to Khukumoni after they traced the SIM card linked to her Aadhaar card. Khukumoni explained that she had lost her phone, along with the SIM card, a year ago while attending to a relative at NRS Medical College and Hospital in Kolkata. “I called my number for two days until a man answered and claimed he was in Mumbai. He identified himself as being from Bangladesh and refused to return the SIM card,” Khukumoni told reporters. She admitted she never reported the loss to authorities. Police Investigation The Mumbai team initially visited her address listed on the Aadhaar card in Boro Angulia village but later traced her to her current residence in Jhitkapota village, where she lives with her aunt and youngest daughter. After questioning her and corroborating her account, the police found no discrepancies and allowed her to leave. Current Status While Khukumoni has been ruled out as a suspect for now, police continue to investigate how the SIM card ended up with Shahzad and whether it plays a larger role in the case. Khukumoni has been asked to remain available for further questioning if required. The case remains under investigation as authorities work to uncover the full scope of Shahzad’s activities and connections.