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    BUSINESS

    HDFC Bank gets RBI approval to raise stake in IndusInd Bank to 9.5 per cent

    HDFC Bank has received RBI approval to raise its stake in IndusInd Bank up to 9.5 per cent. The clearance is subject to compliance with banking, securities and foreign exchange regulations, and bars board representation New Delhi: HDFC Bank has got the Reserve Bank’s nod to hike its stake in another private sector lender, IndusInd Bank, up to 9.5 per cent. “We would like to inform you that the Reserve Bank of India (RBI) vide its letter dated December 15, 2025, has accorded its approval to HDFC Bank (applicant) to acquire ‘aggregate holding’ of up to 9.50 per cent of the paid-up share capital or voting rights in IndusInd Bank,” IndusInd Bank said in a regulatory filing. The RBI approval has been granted with reference to the application made by HDFC Bank, it said. “The approval granted by RBI is subject to compliance with the relevant provisions of the Banking Regulation…
    BUSINESS

    Unemployment rate falls to seven-month low of 4.7 per cent in November

    India’s unemployment rate fell to a seven-month low of 4.7 per cent in November 2025, driven by stronger rural employment and rising female participation, signalling improving labour market conditions despite urban joblessness remaining higher New Delhi: Unemployment Rate (UR) for persons aged 15 years and above declined to a record low of 4.7 per cent in November 2025, compared to 5.2 per cent in the previous month of October 2025. The UR among persons aged 15 and above decreased to 4.7 per cent in November 2025, the lowest level since April 2025, according to the Ministry of Statistics and Programme Implementation (MoSPI). The Ministry further stated that in November 2025, the rural UR fell to a new low of 3.9 per cent, while the urban UR decreased to 6.5 per cent, matching its previous lowest level recorded in April 2025. The joblessness rate was 5.1 per cent in April 2025. According…
    BUSINESS

    India seeks WTO consultations with EU over ferro-alloy import curbs

    India has sought consultations with the European Union at the WTO over safeguard measures imposing import quotas on certain ferro-alloy elements. New Delhi said the curbs would impact Indian exports, even as India and the EU negotiate a free trade agreement New Delhi: India has sought consultations with the European Union under the World Trade Organisation’s (WTO) safeguard agreement over the EU’s decision to impose import quotas on certain ferro-alloy elements, used in the iron and steel industry. According to a communication circulated by the World Trade Organisation (WTO), India has a major trade interest in the export of these elements. The imposition of duties under the safeguard measures over a certain quota will impact exports of these items from India to the EU. The measures will be in place for three years. “As a member having a substantial trade interest in the export of products concerned, India hereby requests consultations with the…
    BUSINESS

    Stock markets decline in early trade dragged by foreign fund outflows, weak global trends

    Indian equities opened lower as Sensex and Nifty fell amid persistent foreign fund outflows, weak global cues and risk-off sentiment. Asian and US markets declined, while select stocks gained. FIIs sold, DIIs supported, limiting deeper downside during early Tuesday trade Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Tuesday as persistent foreign fund outflows and weak global market trends dented investors’ sentiment. The 30-share BSE Sensex declined 363.92 points to 84,849.44 during initial trade. The 50-share NSE Nifty dropped 106.65 points to 25,920.65. From the Sensex firms, Eternal, Axis Bank, HCL Tech, Infosys, Tata Steel, and Bharat Electronics were among the major laggards. However, Bharti Airtel, Asian Paints, Tata Motors Passenger Vehicles, and Titan were among the gainers. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index, and Hong Kong’s Hang Seng index quoted lower. US markets ended in negative territory on Monday.…
    BUSINESS

    With $600 bn net worth, Musk moves closer to becoming world’s first trillionaire

    Elon Musk has become the first person to cross a $600 billion net worth, driven by rising valuations of SpaceX, Tesla and xAI. The billionaire is now widely seen as moving towards becoming the world’s first trillionaire. New Delhi: Tesla and SpaceX CEO Elon Musk has taken another step towards becoming the world’s first trillionaire, according to reports. With his company SpaceX reportedly launching a tender offer, valuing the firm at $800 billion, Musk’s net worth has surged by $168 billion to an estimated $677 billion, according to reports. Musk is now the first person ever worth $600 billion or more, reports Forbes. SpaceX is aiming for an initial public offering (IPO) next year that may value the firm at around $1.5 trillion. Musk’s 12 per cent stake in electric vehicle maker Tesla is worth $197 billion, excluding stock options. Moreover, Musk’s xAI Holdings is reportedly in talks to raise new…
    BUSINESS

    Equity markets decline in early trade dragged by services, realty stocks, FII outflows

    Sensex and Nifty fell in early trade due to losses in services and  realty stocks and continued FII outflows. Despite strong economic indicators and expected earnings growth, volatility persists amid rupee depreciation and global cues ahead of key US inflation and Fed meetings Mumbai: Equity benchmark indices Sensex and Nifty declined in early trade on Monday weighed down by losses in services and realty stocks and sustained foreign fund outflows. The 30-share BSE Sensex dropped 316.52 points, or 0.37 per cent, to 85,395.85 in the morning trade. The 50-share NSE Nifty declined by 106.70 points, or 0.41 per cent, to 26,079.75. From the Sensex firms, Bajaj Finance, Bharat Electronics Ltd, Axis Bank, Bajaj Finserv, Maruti Suzuki India, Asian Paints, Mahindra & Mahindra, NTPC, ICICI Bank, PowerGrid, Hindustan Unilever and Larsen & Toubro were the laggards. However, Tech Mahindra, Infosys, Eternal, Reliance Industries, Tata Motors Passenger Vehicles, Tata Consultancy Services, Trent, HCL Technologies and…
    BUSINESS

    Rupee falls 16 paise to 90.11 against US dollar in early trade

    The rupee weakened to 90.11 per US dollar amid high crude prices and persistent FPI outflows. Strong corporate dollar demand, RBI’s recent rate cut impact, and anticipation of the Fed’s policy decision added pressure, while India–US trade talks begin December 10 Mumbai: The rupee depreciated 16 paise to 90.11 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and persistent foreign fund outflows. Forex traders said strong dollar demand from corporates, importers and foreign portfolio investors pressurised the rupee. At the interbank foreign exchange, the rupee opened at 90.07 against the US dollar then dropped to 90.11, down 16 paise from its previous close. On Friday, the rupee settled at 89.95 against the US dollar, after the Reserve Bank of India cut the key policy interest rate for the first time in six months. Forex traders said investors’ focus has now shifted to the Fed’s…
    BUSINESS

    UIDAI to mandate registration for Aadhaar offline verification entities

    UIDAI is set to notify a new rule requiring hotels, event organisers and other entities conducting Aadhaar-based offline verification to register for access to QR code and app-based authentication. The upcoming app aims to enhance privacy, reduce paper use and streamline verification. New Delhi: A new rule to discourage entities like hotels, event organisers, etc, from taking photocopy of Aadhaar cards of customers and storing them in physical form will be published soon, a senior government official said. Such practices are in contravention of the present Aadhaar Act.The Unique Identification Authority of India (UIDAI) CEO Bhuvnesh Kumar told PTI that the authority has approved a new rule mandating registration of entities that seek Aadhaar-based verification like hotels, event organisers, etc, to provide them access to a new technology that will enable them to verify an individual by scanning QR code or connecting with new Aadhaar app in the works, the top…
    BUSINESS

    Coking coal imports rise in Oct on winter restocking, general coal shipments decline

    In October, overall coal imports fell 3.9% due to surplus domestic supply, while coking coal imports rose 12% driven by winter restocking. Government initiatives like the Coking Coal Mission aim to boost domestic production and reduce reliance on imports New Delhi: Coal imports in October saw a mixed trend with general coal shipments declining while coking coal imports rose. The fall in overall coal imports was on account of availability of surplus coal in the domestic market. Coking coal shipments increased 12 per cent to 5.04 million tonnes (MT) during the month over 4.50 MT a year earlier, driven primarily by winter restocking activities by steel mills. Coking coal is a critical raw material used in steel production. Overall coal imports in October dropped 3.9 per cent to 20.97 MT over 21.84 MT in the year-ago period, according to B2B e-commerce platform mjunction services ltd. According to industry experts, steel manufacturers…
    BUSINESS

    Mcap of five of top-10 most-valued firms surges Rs 72,285 cr; TCS, Infosys biggest winners

    Five of India’s top-10 most valued firms, led by TCS and Infosys, added over ₹72,284 crore in market value last week, while Reliance, HDFC Bank, SBI, L&T and LIC saw declines. TCS gained the most, adding nearly Rs 36,000 crore New Delhi: The combined market valuation of five of the top-10 most valued firms surged by Rs 72,284.74 crore last week, with Tata Consultancy Services (TCS) and Infosys emerging as the biggest winners. While Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance were the gainers, Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) faced erosion from their valuation. Last week, the BSE benchmark eked out a marginal gain of 5.7 points, while the NSE Nifty dipped 16.5 points. TCS added Rs 35,909.52 crore, taking its market valuation to Rs 11,71,862.37 crore. The market capitalisation (mcap) of Infosys jumped Rs 23,404.55…

    BUSINESS

    • Nov- 2025 -
      13 November
      92

      Digital life certificate mega camp at SBI LHO campus on November 12

      Central government and autonomous bodies’ pensioners can submit their digital life certificates with on-the-spot assistance during the event Hyderabad: The State Bank of India, Hyderabad Circle, will be conducting a digital life certificate mega camp at the multi-purpose hall, SBI LHO campus, Koti, Hyderabad, on November 12 from 2 pm. Central government and autonomous bodies’ pensioners can submit their digital life certificates with on-the-spot assistance from SBI staff, a press release said Pensioners are requested to carry their Aadhaar card, PPO number, account number and mobile phone, which is registered with Aadhaar, it added.

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    • 13 November
      96

      KT Rama Rao inaugurates Ardor IT Solutions office in Hyderabad

      BRS working president KT Rama Rao inaugurated Ardor IT Solutions’ new corporate office at Banjara Hills in Hyderabad. The US-headquartered IT firm, led by CEO Vamshi Kesireddy, aims to boost innovation, jobs, and digital growth from Telangana through its expanded facility Hyderabad: BRS working president and former Minister KT Rama Rao inaugurated the new corporate office of Ardor IT Solutions at Banjara Hills in Hyderabad on Monday. Former Minister G Jagadish Reddy and Ardor IT Solutions CEO Vamshi Kesireddy accompanied him. Ardor IT Solutions is a WBENC and WOSB-certified global IT services and solutions company headquartered in the USA, with a strong presence in India. In a statement, Vamshi said the new facility at Banjara Hills, with a seating capacity of over 200,…

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    • 12 November
      130

      Hyderabad-based Pharma Dr Reddy’s loses Rs 2.16 cr after fraudsters hack their email communication

      In a statement, Dr Reddy’s Laboratories clarified that with timely detection and swift action by the company’s teams and banking partners, the funds have been frozen and that there was no financial loss Bengaluru: The Bengaluru police have launched a probe into a cyber fraud case where hackers allegedly infiltrated the official email communication between city-based Group Pharmaceuticals and Dr Reddy’s Laboratories, Hyderabad, successfully diverting a payment of Rs 2.16 crore to a fraudulent account. However, in a statement, Dr Reddy’s Laboratories clarified that with timely detection and swift action by the company’s teams and banking partners, the funds have been frozen and that there was no financial loss. According to an FIR registered by the Cyber Crime Police Station, Bengaluru…

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    • 12 November
      132

      Paytm rolls out new AI-powered app with Gold Coins and smart payment tools

      Paytm has launched a redesigned version of its app with AI-driven features for personalised and smarter payments. The update includes digital gold rewards, expense categorisation, enhanced privacy tools, and new features for NRIs using UPI-linked account New Delhi: Paytm (One 97 Communications Ltd), India’s full-stack merchant payments leader serving MSMEs and enterprises, has launched a fully redesigned version of its flagship app, integrating artificial intelligence-driven features to streamline and personalise everyday transactions for its users. The update introduces a cleaner user interface alongside over 15 new features that seek to make payments faster and smarter for customers across the country, including Non-Resident Indians (NRIs) in 12 countries. One of the standout innovations is the launch of “Gold Coins,” a first-of-its-kind initiative…

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    • 12 November
      133

      Nykaa shares climb nearly 8 pc after earnings announcement

      Shares of FSN E-Commerce, Nykaa’s parent company, surged nearly 8% after reporting a multifold rise in consolidated net profit to ₹34.4 crore for the September quarter, driven by 25% revenue growth, higher GMV, and continued retail expansion across India New Delhi: Shares of FSN E-Commerce, the parent company of Nykaa, on Monday climbed nearly 8 per cent after the fashion and beauty retailer reported a multifold growth in consolidated net profit to Rs 34.4 crore in the September quarter. The company’s stock jumped 7.87 per cent to Rs 265.30 apiece on the BSE. On the NSE, shares of Mumbai-based FSN E-Commerce increased by 7.86 per cent to Rs 265.20 per piece. The 30-share BSE Sensex jumped 482.65 points, or 0.58 per…

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    • 12 November
      134

      Gold and silver prices up by 2 pc over positive global cues

      Gold and silver prices rose on Monday, buoyed by global cues and expectations of a US interest rate cut. Bullion gains were supported by a softer dollar, safe-haven demand, while WTI crude rebounded past $60 amid mixed OPEC+ signals. New Delhi: Gold and silver prices went up on Monday, driven by positive global cues and the possibility of the US Fed lowering interest rates next month. At around 10 a.m. on the Multi Commodity Exchange (MCX), the price of the December 5, 2025 contract for gold rose 1.16 per cent to Rs 1,22,468 per 10 grams, and the price of the December 5, 2025 contract for silver rose 1.99 per cent to Rs 1,50,666 per kg. Gold prices fell after reaching a…

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    • 11 November
      225

      Sensex, Nifty rebound in early trade on Asian cues and foreign fund inflow

      Sensex and Nifty bounced back in early trade on Monday after three consecutive losses, driven by positive Asian markets and fresh foreign fund inflows. Key blue-chip stocks gained, while Brent crude rose to USD 64.04 per barrel. Mumbai: Equity benchmark indices Sensex and Nifty rebounded in early trade on Monday after sliding for the past three sessions tracking positive trends in Asian markets and buying in blue-chip stocks. Besides, traers said fresh foreign fund inflows also supported investors’ sentiment. The 30-share BSE Sensex climbed 267.74 points or 0.32 per cent to 83,484.02 in early trade. The 50-share NSE Nifty advanced 84.90 points or 0.33 per cent to 25,577.20. Among the 30 Sensex firms, Asian Paints, Bharat Electronic Ltd, Larsen & Toubro, Titan, Reliance…

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    • 11 November
      226

      Rupee slips to 88.69 against US dollar amid strong dollar, crude oil rise

      The rupee fell 4 paise to 88.69 against the US dollar in early trade on Monday, pressured by a strong dollar amid the US government shutdown and rising crude oil prices. Markets show short-term consolidation with medium-term rupee strength. Mumbai: The rupee fell 4 paise to 88.69 against the US dollar in early trade on Monday, weighed down by the strength of the American currency in the overseas market and elevated crude oil prices. Forex traders said the rupee sentiment remained fragile amid global uncertainty. The US shutdown is providing a counter-intuitive lift to the dollar, with government spending halted, fewer dollars are circulating — tightening supply and offering short-term support to the currency, they said. At the interbank foreign exchange market, the…

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    • 11 November
      200

      Mcap of 7 of top-10 most valued firms erodes by Rs 88,635 cr; Airtel, TCS biggest laggards

      Seven of India’s top 10 most valued firms saw their combined market capitalization drop by ₹88,635 crore last week amid weak equities, with Bharti Airtel and TCS leading losses. Reliance, HDFC Bank, and Infosys also declined, while SBI, LIC, and Bajaj Finance gained New Delhi: The combined market valuation of seven of the top-10 most valued firms eroded by Rs 88,635.28 crore in a holiday-shortened last week, with Bharti Airtel and Tata Consultancy Services taking the biggest hit, in line with the weak trend in equities. In a holiday-shortened last week, the BSE benchmark tanked 722.43 points or 0.86 per cent, and the Nifty declined by 229.8 points or 0.89 per cent. While Reliance Industries, HDFC Bank, Bharti Airtel, Tata Consultancy…

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    • 11 November
      244

      AI valuations spark FII caution as India sees heavy foreign outflows in 2025

      High AI stock valuations are causing caution among foreign institutional investors (FIIs), leading to significant selling in India. Persistent outflows, mixed earnings, and global uncertainties are affecting markets, while improving domestic indicators may provide some support. Mumbai: Artificial intelligence (AI) valuations have reached elevated levels and further rallies from here run the risk of a bubble burst, and this realisation is dawning on investors widely now, according to market watchers. This may restrain sustained FII selling in India. If, along with this realisation, India’s earnings growth continues to improve, FIIs are likely to turn buyers. But this may take time, they noted. “It is important to understand a significant feature of the FII activity this year. FIIs, particularly the hedge funds,…

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