Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: Last Friday, markets took a rollercoaster ride, with Nifty slipping near 22,800 before a late-hour bounce salvaged some losses. With broader indices plunging up to 3.7% and FIIs in full sell mode, bulls are barely holding the fort!

TOP STORIES

A ‘Solar Superpower’ with Bigger Climate Goals Ahead 🌞

What Happened?

UN climate chief Simon Stiell gave India a glowing endorsement, calling it a “solar superpower” and praising its clean energy push.

With over 100 GW of solar capacity installed, India is among the top four nations in the world in solar adoption. 

Stiell, speaking at the ET Global Business Summit, urged India to go even further—unleashing hundreds of gigawatts more.

But there’s a catch

India’s new climate action plan (NDCs) for 2031-2035 is still pending, and the deadline to submit it was February 10.

Blames on lack of financial and technological support from developed nations.

Developed nations, historically responsible for most emissions, were supposed to cough up big climate funds. 

• Instead, they offered just $300 billion by 2035—far short of the $1.3 trillion needed annually from 2025. 

Zoom out

India is the world’s fifth-largest economy and is home to 1.4 billion people.

A stronger shift to clean energy could mean faster industrial growth, more jobs, and less reliance on fossil fuels.

PAISON KA KHEL

Bajaj Goes Bananas for Banjara’s in ₹120 Crore Deal! 🤑

Bajaj Consumer Care went on a shopping spree, dropping ₹120 crore to buy Vishal Personal Care—the proud parent of Banjara’s herbal products.

The deal happens in two steps: first, a 49% stake, then a full takeover.

Vishal made ₹51 crore last year, with its shampoos, gels, and powders gracing 70,000 stores across South India.

Now, Bajaj plans to take Banjara’s nationwide—because why should only the South have all the good hair days?

BHEL Scores ₹6,700 Crore Power Play in Telangana! 🔥

BHEL has bagged a whopping ₹6,700 crore order from Singareni Collieries to build an 800 MW thermal power unit in Telangana. 

This isn’t their first rodeo—BHEL had already set up two 600 MW units at the same site back in 2016. Now, they’re back to add more power to the mix! 

With over 75% of Telangana’s coal-based plants under its belt and a total of 1,70,000 MW installed across India, BHEL is basically the country’s go-to electrician.

TOP STORIES

EU and India Stitch a Sustainable Future for Textiles 👗

What Happened?

The European Union (EU) and India’s Ministry of Textiles have teamed up to give the country’s textile and handicraft industry a much-needed boost. 

They’ve launched seven projects backed by a €9.5 million grant to improve sustainability, efficiency, and women’s empowerment in the sector. 

• These projects, spanning nine states, aim to benefit 35,000 people, including 15,000 MSMEs, 5,000 artisans, and 15,000 farmer-producers.  

Why it matters

India’s textile industry isn’t just big—it’s a 45-million-strong workforce, with women making up 60% of it.

But the sector isn’t all silk and sunshine. High energy use, water consumption, and low recycling rates have been long-standing issues.

This initiative is like a makeover for the industry, making it greener and more profitable. Plus, with European markets obsessed with sustainability, this is India’s chance to weave itself into the global sustainable movement.  

Zoom out

Imagine an India where handloom weavers, bamboo artisans, and natural dye producers don’t just survive but thrive.

That’s the vision here—blending tradition with innovation, making textiles that are eco-friendly, globally competitive, and, let’s be honest, totally Instagram-worthy.

GLOBAL NAZARA

UK is Fighting Tariffs with a £2.5B Hammer 🔨

The UK government is preparing to defend its steel industry against looming tariffs.

The newly announced Plan for Steel aims to slash production costs, boost domestic usage, and block unfair foreign competition—because getting undercut by cheaper imports is never fun.

With a potential 25% US tariff on steel imports from March 12, fears of major financial losses are growing. In response, ministers have pledged up to £2.5 billion in support. 

Musk’s AI Challenger Set for Grand Reveal! 🤖

Elon Musk is back with another AI twist—Grok 3, xAI’s latest chatbot, is set to debut with a live demo on Monday.

Musk is pitching Grok 3 against ChatGPT, promising a game-changer.

Just days ago, he teased that the AI was in its final stretch—turns out, it’s ready to roll sooner than expected.

TOP STORIES

Reliance-BP vs. ONGC: The Billion-Dollar Heist? 🛢️

What Happened?

Mukesh Ambani’s Reliance Industries and BP Plc have hit a legal roadblock as the Delhi High Court overturned a 2018 arbitration ruling.

The decision puts a $1.55 billion compensation claim back on their table.

The backstory?

In 2013, ONGC noticed its gas fields were mysteriously “leaking” into Reliance’s KG-D6 block.

ONGC asked the Directorate General of Hydrocarbons (DGH) for data, leading to an independent study by DeGolyer and MacNaughton (D&M) that confirmed the gas migration.

A committee led by former Chief Justice Ajit Prakash Shah later ruled that, while Reliance wasn’t guilty of wrongdoing, the Indian government—not ONGC—deserved compensation.

Hmm, then?

The government, smelling a $1.55 billion payday, demanded restitution.

Reliance fought back, won in arbitration in 2018, and even got the Delhi High Court to uphold the ruling in 2023.

But in a fresh twist, a division bench of the High Court overturned that decision on February 15, 2025, calling the arbitration award inconsistent with public policy.

The Bigger Picture

This case isn’t just about gas slipping across block borders—it’s about how India handles business disputes. 

The case also raises serious questions about India’s arbitration system.

If court rulings keep overturning arbitration decisions, investors might start feeling like they’re playing snakes and ladders—except all the ladders lead back to court.

MIRCH MASALA

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