Nov 12: Red Fort Car Explosion Probe Widens, BBC In Turmoil

The blast near Delhi’s Red Fort continues to raise major national security concerns. Early investigations suggest a coordinated operation, with leads pointing toward possible terror links and multiple suspects already under scrutiny. Authorities are now tracing the car’s movements and communication networks used to plan the attack. Security has been tightened across the capital and other big cities as agencies dig deeper into the module behind it.

More details on the story below.

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The Sensex and Nifty 50 closed higher on Tuesday, extending Monday's gains. While the BSE Midcap index also ended in the green, the Small Cap index slipped marginally in a mixed session.

The Incident: A car explosion near the Red Fort Metro station in Delhi on the evening of November 10 has left the city shaken, prompting a high-level national security response. The blast occurred in one of the most crowded tourist and commuter zones in the national capital, resulting in multiple fatalities (reports suggesting between 8 to 13 people killed) and dozens of injuries. Authorities quickly cordoned off the area and raised the alert level across Delhi, particularly around high-security and heritage sites. The Red Fort, a symbol of India’s national identity and political history, is among the most heavily monitored public spaces in the country. An attack in its vicinity is a direct strike at the country’s sense of security and public confidence.

Tracing The Car And the Blast: Investigations led by the Delhi Police and the National Investigation Agency (NIA) identified the vehicle involved as a white Hyundai i20. Using CCTV and registration data, the police traced the car’s ownership trail to a resident of Pulwama in Jammu & Kashmir, pointing to a likely terror link. Initial forensic and intelligence inputs suggest that the blast was not a suicide attack. Instead, sources indicate that the explosion may have been triggered in haste or panic, which implies a shift in the original plan. Despite that, the choice of location and timing indicate clear intent: to cause maximum disruption in a high-visibility public space.

Emerging Terror Network Links: As the investigation progressed, authorities uncovered a broader network allegedly linked to the attack. Among those detained or questioned are medical professionals, including doctors who are suspected of involvement in planning, logistics and establishing what agencies describe as a potential “white-collar support structure” connected to the Jaish-e-Mohammad network. Reports indicate that this module may have been tasked with building a network that could operate discreetly within urban professional circles. Their role, as alleged, was not frontline execution but planning, recruitment and ideological reinforcement. Further, the investigation has drawn connections to a prior seizure of approximately 2,900 kg of explosives in Faridabad. The scale of that haul suggests that the Red Fort blast may not have been isolated but part of a larger operational pipeline still under examination.

The Role of Encrypted Communication: Another critical strand of the probe involves communication channels used by the suspects. Authorities believe that encrypted platforms, particularly Telegram, played a significant role, allowing coordination across locations while avoiding conventional surveillance. Early evidence points to the use of closed group channels and self-destructing message settings to plan movements, share updates and coordinate logistics.

Human Cost And Immediate Impact: Among the deceased are individuals simply going about their day: a taxi driver waiting for passengers, a cosmetics shop owner among others who happened to be in the vicinity at the wrong moment. Their deaths underline a reality often lost in security discourse, terror incidents are not abstractions but direct assaults on ordinary lives. Citywide security has now been tightened. Surveillance has increased at metro stations, historical sites and public transport hubs. Central and state agencies are coordinating to trace supply chains, funding sources and sleeper networks.

A Broader Security Challenge: The Red Fort blast shows the evolving nature of terror activity in India. Traditional, visible militant cells are increasingly being supplemented, or replaced, by smaller, networked modules embedded in ordinary professions and everyday urban spaces. These are harder to detect, harder to disrupt and harder to anticipate. The investigation is ongoing, and more layers will almost certainly emerge. But one thing is perhaps certain - this was not an improvised act. It was planned, coordinated and strategically placed. Strengthening national security now requires not only border vigilance but also a sharper focus on networks operating quietly within the country.

Relief In The Air For Vi: The government has kicked off work on a relief package for Vodafone Idea following a key ruling by the Supreme Court of India on its adjusted-gross-revenue (AGR) dues. With liabilities reportedly over ₹83,000 crore, the Department of Telecommunications is examining errors and duplication in past billing. The aim is to ease the financial burden and restore healthy competition in India’s telecom sector.

Bhutan Bound, Tata Power Goes Big: Tata Power is set to invest ₹1,572 crore to acquire a 40 % stake in a new special-purpose vehicle (SPV) that will build the 1,125 MW Dorjilung Hydro Power Project in Bhutan. The total project cost is about ₹13,100 crore, and the move underscores Tata Power’s push into clean energy and regional power cooperation.

Snack Maker Spices Up US Play: Snack-company Bikaji Foods International has approved an additional investment of US $500,000 in its U.S. subsidiary, Bikaji Foods International USA Corp, to strengthen distribution and expand reach. The U.S. arm recorded a turnover of around US $1.77 million in FY25, signaling the company’s ambition to tap global snack markets.

GA Takes A Bite Of Balaji: General Atlantic is reportedly set to pick up about 7% in Balaji Wafers for around ₹2,500 crore. The deal values the Gujarat-based snack maker strongly in line with its rapid market expansion beyond western India. This investment signals rising private equity interest in homegrown FMCG brands with deep regional loyalty.

India Trails Peers In Market Rally: Despite global indices hitting record highs, the Nifty has risen only about 5% over the past year, making it one of the weakest performers among major markets. High valuations, FII outflows, and muted earnings growth expectations are being cited as key reasons. Investors are watching whether upcoming policy signals can revive momentum.

Trade Deal Nears Endgame: Donald Trump has hinted that a major tariff reduction could be part of the India-US trade deal now in its final negotiation phase. The agreement is expected to cover market access, duties, and smoother regulatory coordination. If concluded, it could ease long-standing trade frictions and boost bilateral commerce.

Wegovy Gets Cheaper In India: Novo Nordisk has reduced the price of its weight-loss drug Wegovy in the Indian market by up to one-third. The move appears aimed at expanding accessibility and capturing market share in a price-sensitive segment. Demand for GLP-1 weight-management treatments has surged globally in the past year. 

A Pillar Under Pressure: For decades, the BBC has been more than just a broadcaster, it has been a symbol of British public trust, journalistic credibility and cultural identity. But over the past weeks, that reputation has been shaken. A controversy over how coverage was edited, followed by an internal memo alleging deeper editorial failings, has triggered resignations at the very top. The crisis is now being viewed not as an isolated media mishap, but as a reflection of the fractures running through Britain’s wider establishment.

The Flashpoint: The immediate spark came from a documentary segment that included an edited version of a speech given by Donald Trump on January 6, 2021. Critics argued that the edit altered the meaning and context of his remarks, raising questions about fairness and impartiality. Amid mounting pressure, including the threat of legal action, the issue intensified when an internal standards adviser’s memo, warning of systemic editorial concerns, was leaked. What began as a dispute over one programme suddenly turned into a wider institutional reckoning.

Leadership Fallout: The fallout was swift. Director General Tim Davie and Head of News Deborah Turness stepped down, leaving a leadership vacuum at a critical moment. The resignations also exposed internal fault lines: journalists calling for editorial independence, board members concerned about reputational damage, and political voices eager to claim bias one way or another. The BBC now finds itself trying to hold together a newsroom divided over identity and direction.

A Deeper Identity Crisis: Beneath the headlines lies a larger challenge - the BBC’s fundamental role in a rapidly changing media environment. Its licence-fee funding model is constantly under political fire. Audiences are splintering across streaming platforms and social media. And accusations of bias, from both left and right, are increasingly weaponised. The question is no longer simply whether the BBC reports fairly, but whether a national broadcaster can remain a neutral common space in an era built on division.

What Is At Stake: This matters beyond the UK. The BBC has long shaped global norms of public-service journalism. If its authority erodes, the world loses a benchmark. Restoring trust will require transparency, reform and a renewed commitment to independence not just in policy, but in practice.

Suicide Blast In Islamabad: A suicide attack outside a district court in Islamabad has left at least 12 people dead and several injured. Security forces have cordoned off the area and launched an investigation. The blast indicates the renewed threat of extremist violence resurfacing in Pakistan’s urban centres.

SoftBank Exits Nvidia: SoftBank has sold its remaining stake in Nvidia for about $5.8 billion in an unexpected move. The exit comes after a sharp rally in Nvidia’s valuation driven by AI chip demand. Analysts say SoftBank may be aiming to lock in gains and rebalance toward other tech investments.

EU Proceeds Toward Huawei Restrictions: The European Union is moving closer to a coordinated ban on Huawei equipment in telecom networks. Governments have raised concerns about national security risks and dependence on Chinese infrastructure. Member states are now working on timeline and enforcement mechanisms.

Michael Burry Flags AI Profit ‘Distortions’: Investor Michael Burry has accused leading AI hyperscalers of inflating earnings through accounting and cost-allocation practices. He argues that headline profitability may not reflect underlying economics of massive AI infrastructure spending. The claim has sparked debate over how to value AI giants in the current market.

UK Assets Slide On Rate-Cut Expectations: British markets weakened after softer jobs data increased expectations of a possible rate cut around Christmas. The labour figures suggest cooling economic momentum, prompting speculation the Bank of England may shift policy sooner. Bond yields and the pound moved lower following the data.

US–Switzerland Tariff Deal In Progress: The United States and Switzerland are negotiating an agreement that could significantly reduce tariffs of nearly 39% on certain goods. The discussions aim to boost bilateral trade and ease long-standing market access hurdles. Officials say the deal is moving toward final technical stages.

Sony Lifts Profit Outlook: Sony has raised its annual profit forecast after reporting stronger-than-expected quarterly results. Growth in the music business and steady demand for imaging sensors contributed to the beat. The company said it is seeing momentum across entertainment segments beyond PlayStation.

Shell Disputes LNG Arbitration Ruling: Shell has filed a challenge in New York against an arbitration decision involving Venture Global concerning LNG supply contracts. The company argues the ruling misinterpreted contractual obligations and delivery timelines. The case underscores rising tensions in long-term LNG trading agreements.

‘Paid weekend safaris to kill civilians’ during siege of Sarajevo: Italy is investigating allegations that ‘war tourists’ paid huge sums of money to Serbian forces to shoot men, women and children during Bosnian war of the 1990s. Reports claim that the foreigners, from Italy, the US, Russia and elsewhere, paid tens of thousands of pounds to pick off terrified Bosnians “for fun” during the siege.

NDA Set For Big Bihar Victory: Exit polls indicate the NDA alliance is heading for a strong win in the Bihar assembly elections. The trend suggests limited traction for Tejashwi Yadav’s campaign, dimming his prospects of becoming chief minister. Final results will confirm whether the momentum holds.

Delhi’s Air Turns ‘Severe’: Delhi reported its first severe air-quality day of the year, with the AQI surging to 428. Authorities have issued health advisories as visibility and outdoor conditions deteriorated. The spike is being linked to weather stagnation and ongoing pollution sources.

Adani Plans Major Battery Storage Project: Adani is set to develop what is expected to become India’s largest battery energy storage system. The project aims to support renewable power integration and grid stability as the country expands solar and wind capacity. It marks another move by the group into large-scale clean energy infrastructure.

J&K Registers Historic Ranji Win: Jammu & Kashmir defeated Delhi for the first time in Ranji Trophy history. The result shows the team’s growing competitive presence in domestic cricket. It was a landmark performance that drew attention for both its scale and symbolism.

New Faces Join Tata Trusts Board: Tata Trusts has added Neville Tata and veteran Titan executive Bhaskar Bhat to its board following a recent reshuffle. The move comes after Mehli Mistry’s exit and is seen as part of broader governance realignment. The appointments reinforce continuity within the group’s leadership circles. 

THAT’S ALL FOR TODAY!

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