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🛰️ Studying solar eclipses
PLUS: SpaceX secondary share offering
Good morning.
New in - Billboard’s Greatest Pop Stars of the 21st Century: No:1 is BEYONCÉ
We called it 🤠 🎙️
- Ruchirr Sharma & Shatakshi Sharmaa
TABLE OF CONTENTS
🛰️ Studying solar eclipses
🚀 SpaceX secondary share offering
🗞️ Bite-sized summaries
🚬 Air quality
✈️ Breaking the Aircraft Act
🧑🍳 What else is cookin’?
🍿 Entertainment, Entertainment, Entertainment
MARKETS
🇮🇳 India
indicates per gram rate in Delhi | Stock data as of market close 03/12/2024
Green Indian stock markets extended gains for the third consecutive session. Top gainers included Adani Ports, NTPC, and Adani Enterprises. The Nifty PSU Bank Index rose 2%, while the FMCG sector dropped 0.5%. Mid- and small-cap indices outperformed benchmarks, gaining 0.8% and 0.7% respectively.
🌍️ International
Data as of market close 03/12/2024
Stock markets showed mixed results. The S&P 500 and Nasdaq Composite reached new record highs, driven by gains in technology stocks like Apple and Nvidia. The Dow Jones Industrial Average declined slightly. Investors focused on upcoming economic data, including job openings and Federal Reserve commentary, which could influence expectations for interest rate cuts in 2025.
SPACE
ISRO has initiated a 25-hour countdown for the Proba-3 mission, a joint venture with the European Space Agency (ESA) scheduled to launch on December 4 at 4:08 PM IST. This groundbreaking mission, powered by ISRO’s reliable PSLV-XL rocket, will lift off from Sriharikota, marking a significant leap in satellite technology and solar research.
Proba-3, a world-first in precision formation flying, features two spacecraft—the Occulter and the Coronagraph. Separated by 150 meters in orbit, these spacecraft will work together to study the Sun's corona. The Occulter blocks the Sun’s disk, allowing the Coronagraph to capture detailed observations of the solar atmosphere—essentially creating "solar eclipses on demand" to overcome the limitations of natural eclipses.
The mission continues a longstanding ISRO-ESA partnership, building on previous successes like Proba-1 and Proba-2. The 550-kg Proba-3 payload will be deployed 18 minutes after liftoff into a high Earth orbit with a 60,530 km apogee and 600 km perigee, achieving a 19.7-hour orbital period.
Beyond its unique mission design, Proba-3 advances satellite formation flying and rendezvous techniques, crucial for future space exploration and large-scale scientific studies. Following the successful Aditya-L1 mission in September 2023, it also extends ISRO’s commitment to solar science.
ESA’s expertise in multi-satellite missions, such as the Automated Transfer Vehicle and Sweden’s Prisma, underpins its role in the mission's post-launch analysis. These projects laid the foundation for precise formation flying, now being scaled up with Proba-3.
By leveraging the versatile PSLV and strengthening its collaboration with ESA, ISRO reinforces its reputation as a commercial and scientific space mission leader. Proba-3 exemplifies India’s space program's growing global importance and contributions to advancing space science and technology.
Read more: Economic Times
SPACE
SpaceX, Elon Musk's rocket and satellite powerhouse, is reportedly exploring a secondary share offering that could catapult its valuation to an astounding $350 billion, insiders reveal. This would mark a sharp climb from its $210 billion valuation earlier this year and eclipse the $255 billion figure floated in November. If finalized, SpaceX would secure its spot as the world’s most valuable private startup.
The tender offer, designed to provide liquidity for employees and early investors, underscores the surging demand for SpaceX as it redefines the private aerospace sector. Details are still evolving and hinge on interest from potential buyers and sellers, according to sources close to the discussions.
While SpaceX remains tight-lipped, the news comes as Musk’s rapport with President-elect Donald Trump grows, potentially bolstering investor confidence in the company’s future.
A valuation of $350 billion would place SpaceX alongside the largest publicly traded companies globally, reflecting the meteoric rise of Musk’s ventures. Tesla, for instance, has seen its stock soar 42% since November 5, lifting Musk’s net worth to around $353 billion.
SpaceX’s soaring valuation mirrors its trailblazing advancements in reusable rockets and satellite technology, particularly its Starlink internet network. The move would enable the company to secure funding without going public, preserving its private status while rewarding early backers.
If the deal goes through, it would mark another milestone in SpaceX’s ascent, cementing its dominance in aerospace innovation and its potential to revolutionize global connectivity and space exploration. It also highlights the broader market’s confidence in Musk’s audacious vision across his portfolio of groundbreaking companies.
Read more: Economic Times
GENERAL OVERVIEW
🗞️ Bite-sized summaries
🚬 Air quality - Delhi's PM2.5 levels in November 2024 hit an eight-year high, averaging 249 µg/m³ despite reduced stubble burning and the Graded Response Action Plan (GRAP). The Centre for Research on Energy and Clean Air (CREA) reported 20 "Very Poor" and 10 "Severe" air quality days, with transportation contributing over 20% of PM2.5 pollution. Stubble burning accounted for 19%, highlighting the need for year-round strategies. Nationwide, 159 of 268 cities exceeded PM2.5 safety limits. The report calls for long-term solutions to combat perennial pollution sources as Delhi's air quality continues to oscillate between "Very Poor" and "Severe" categories.
✈️ Breaking the Aircraft Act - India’s Civil Aviation Minister Kinjarapu Rammohan Naidu introduced a bill in the Rajya Sabha to replace the 90-year-old Aircraft Act. Aimed at modernizing the aviation sector, the Bharatiya Vayuyan Vidheyak, 2024, seeks to streamline regulations, attract investment, and align with international aviation standards. It includes new definitions for design and manufacturing and establishes clear roles for regulatory bodies like DGCA. Opposition members raised concerns about autonomy and favoritism in the sector, while others highlighted passenger compensation for delays. The bill, already passed by the Lok Sabha, underscores the government’s commitment to enhancing India’s aviation infrastructure and regulatory framework.
HEADLINES
🧑🍳 What else is cookin’?
What’s happening in India (and around the world 🌍️)
French government faces collapse after PM circumvents parliament over budget bill.
Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated.
Top UN court to begin hearings on landmark climate change case.
South Korean president declares martial law and accuses opposition of ‘anti-state’ activity.
With election decided, Ireland faces weeks of talks to form a government.
CULTURE
🍿 Entertainment, Entertainment, Entertainment
Source: Times of India
Ananya Panday's sister Rysa makes Le Bal Des debut.
Pushpa 2 Hindi advance booking update: Allu Arjun's film records phenomenal pre-sales with over 2.45 lakh tickets sold.
Disney’s much awaited Snow White trailer out now.
A Different Man takes best feature at Gotham Awards: full winners list.
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That’s all for today folks - have a lovely day and we’ll see you next week.