Market News Today

Global HDPE markets showed regional divergence. Europe spot prices softened while contract prices edged higher on restocking and firmer ethylene costs. The US market remained stable-to-firm, supported by steady injection-moulding demand and minor weather-related disruption. China prices weakened amid pre-Spring Festival slowdown and seasonal demand drop. Overall, markets remain range-bound with limited short-term upside.

Supreme Court on Feb 16 stayed Karnataka HC directives on the 111-km Bengaluru-Mysuru Infrastructure Corridor (BMIC) project. Conceived in mid-1990s, only 1 km is complete after 25 years, halting reassessment of its framework.

Bengaluru will host a new advanced aerospace engineering facility by a Japanese firm, focusing on aircraft cabin component design. This boosts India's aviation manufacturing, creates jobs, and promotes sustainable industrial growth over the next few years.

Bengaluru introduces a scaled penalty system for undeveloped plots, replacing the 10% uniform levy. Penalties, capped at 10%, are based on plot size and guidance value or lease agreement + MCLR+2%. Payment is due in 90 days.

Bengaluru is a key hub for urban pet air travel, with over 10,000 animals flown in 3 years, 93% in-cabin. This reflects evolving lifestyles, new airline revenue, and demand for pet-friendly infrastructure and sustainable transport.

Chennai's Egmore station redevelopment reroutes EMU trains from Feb 20 for 45 days, closing platforms 10/11 and redirecting to 5/6. Revised schedules impact night travellers; 50 extra buses deployed until April 5.

Chennai faces severe water shortages by 2050, with demand reaching 2,940 MCM. Reusing 25-40% of treated wastewater and micro-irrigation could halve shortfalls, while climate-adaptive measures could cut unmet demand by 93%.

Tamil Nadu government maps vacant state-owned land in old Chennai Metropolitan Area for urban development, industrial growth, and revenue. The 16-week TIDCO assessment creates a GIS inventory to address land scarcity.

Kolkata's Esplanade bus terminus shifted, freeing 300m x 40m for the Purple Line metro. This 3,200 sq metre hub will be India's rare three-line interchange, accommodating 300-350 daily buses, enhancing multimodal connectivity and reducing congestion.

Kolkata Traffic Police intensified a road safety drive on Diamond Harbour Road after 5 fatalities in 3 incidents over 10 days. Measures include reconfiguring access, rumble strips, and monitoring pedestrian crossings, aiming for behavioural change and structural redesign.