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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

    • Feb- 2025 -
      27 February
      251

      Star Cement to set up Rs 3,200-crore plant in Assam

      Another agreement was inked between the Assam government and Matheson Hydrogen Pvt Ltd for a Rs 1,500-crore hydrogen and steam generation plant Guwahati: Star Cement Ltd has proposed to set up a Rs 3,200-crore cement clinker and grinding plant in Assam. A Memorandum of Understanding (MoU) in this regard was signed between the State government and the company on the concluding day of the Advantage Assam business summit on Wednesday, Chief Minister Himanta Biswa Sarma said. Apart from this, an agreement was inked between the State government and Matheson Hydrogen Lvt Ltd, which is willing to set up a Rs 1,500-crore hydrogen and steam generation plant. The State government also signed a Rs 500-crore MoU with Global Health Ltd, while two…

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    • 27 February
      294

      India needs 1.2-1.5 tax buoyancy to achieve 6.5-7 per cent growth: EY

      The EY India Economy Watch report noted that over the past three years, gross tax revenue buoyancy has gently moderated, from 1.4 in 2024 to 1.15 in 2025 and projected to be 1.07 in 2026 New Delhi: India has to maintain a tax buoyancy in the range of 1.2-1.5 to achieve a growth of 6.5-7 per cent, a EY report said on Wednesday. The report also said that the government may need to strengthen revenue mobilisation, particularly by increasing the tax-to-GDP ratio from the estimated 12 per cent in FY26 (Budget Estimates) to 14 per cent by FY31. India’s fiscal strategy must focus on enhancing tax buoyancy, prudent expenditure management, and continued structural reforms to ensure sustainable growth, EY said. EY…

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    • 27 February
      295

      Opinion: Trump’s reciprocal tariffs can reshape US-India trade relations

      India should expand its export portfolio, diversifying its trade to other economies such as SE Asia and Latin America By Titir Sarkar, Mousumi Chatterjee Trade policies have become increasingly uncertain in recent years due to rising protectionist measures and geopolitical tensions, including the Russia-Ukraine war and the Israel-Palestine conflict. This uncertainty has intensified following Donald Trump’s re-election as US President. In February 2025, Trump announced a “reciprocal” tariff policy, intending to match tariffs imposed by other countries on US exports. However, economists argue that such measures often lead to higher consumer prices rather than effectively reducing trade deficits. There are growing concerns that these policy shifts could disrupt the global supply chains, exacerbate geopolitical conflicts among nations and hinder global economic growth. While…

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    • 27 February
      270

      Infosys Mysuru campus layoffs: Pune IT workers union NITES threatens protest; tech giant defends sacking trainees

      Earlier this month, India’s second largest IT services company faced backlash after it laid off over 300 freshers who underwent foundational training at its Mysuru campus but could not clear internal assessments New Delhi: Pune-based IT workers union NITES on Wednesday said it will not hesitate to start a protest along with trainees, who were laid off recently by Infosys, if the government does not take “appropriate” action. Infosys said every trainee joins with full understanding that performance evaluations are key part of their progress, and asserted that all eligible trainees (over 98 per cent) have received their relieving letter upon separation, along with outplacement services, severance pay, counselling, among other measures. Nascent Information Technology Employees Senate (NITES) in a statement on…

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    • 26 February
      209

      Rupee drops 16 paise to 86.88 against US dollar in early trade

      The domestic equity markets rebounded with the 30-share BSE Sensex rising 117.57 points to 74,571.98 in early trade, while Nifty was up 31.3 points to 22,584.65 Mumbai: The rupee declined 16 paise to 86.88 against the US dollar in early trade on Tuesday amid a strengthening greenback, sustained FII outflows, and a rise in Brent crude prices. A rebound in the domestic equity markets prevented further fall in the domestic unit, according to forex traders. At the interbank foreign exchange, the local unit opened at 86.83, before sliding further to 86.88, down 16 paise from Monday’s close of 86.72. “The rupee was again sold off on Monday as month-end dollar demand kept rupee lower from a high of 86.56 to 86.75.…

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    • 26 February
      278

      Maruti Suzuki India begins commercial production in Haryana

      Maruti Suzuki aims to create a manufacturing capacity of producing 4 million cars annually to reclaim a 50 per cent market share in India and use the country as a global export hub as well New Delhi: In a further boost to domestic manufacturing, Maruti Suzuki India on Tuesday said it has started commercial production at its Kharkhoda facility in Haryana. The foundation stone for this facility was laid by Prime Minister Narendra Modi in August 2022 via a virtual mode. To begin with, the Kharkhoda facility will have an annual production capacity of 250,000 units and produce the compact SUV Brezza, said the automaker in a statement. ”With this, Maruti Suzuki, including Suzuki Motor Gujarat Private Limited, the wholly owned…

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    • 26 February
      240

      Vedanta Group to invest Rs 50,000 cr in oil and gas in Assam, Tripura

      Assam has abundant natural resources and potential to become the world’s mega basin says Vedanta Group Chairman Anil Agarwal Guwahati: Mining major Vedanta Group chairman Anil Agarwal on Tuesday announced that it will pump in Rs 50,000 crore in Assam and Tripura’s oil and gas sector over the next 3-4 years. Speaking at the inaugural function of the Advantage Assam investment summit here, he said group firm Cairn Oil & Gas has already invested around Rs 2,500 crore in the two states of the northeast region. “Assam has abundant natural resources and potential to become the world’s mega basin. We are poised to play a pivotal role in Assam’s sustainable growth and development,” he said. Agarwal said that the company has…

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    • 26 February
      240

      SEBI cautions public against buying properties of HBN Dairies & Allied Ltd

      The cautionary statement comes after Sebi discovered that some individuals or entities are interfering with the auction process by spreading false rumours, pretending to be Sebi officials, and trespassing on HBN properties New Delhi: Markets regulator Sebi has cautioned public against buying and dealing with any property belonging to HBN Dairies & Allied Ltd. The cautionary statement comes after Sebi discovered that some individuals or entities are interfering with the auction process by spreading false rumours, pretending to be Sebi officials, and trespassing on HBN properties. These actions are not only misleading potential buyers but also obstructing Sebi’s e-auction process, the regulator noted. In response, Sebi in a notice issued last week, cautioned public against “buying/dealing with any properties wherein HBN,…

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    • 26 February
      267

      Bank of Maharashtra opens its 72nd branch in Telangana State in Ameenpur, Sangareddy

      The Ameenpur branch of BOM will extend all banking transactions and also specific needs of customers, offering the entire spectrum of banking products and financial services covering retail, agri and MSME sectors Hyderabad: The Bank of Maharashtra (BOM) inaugurated its new branch at Ameenpur, Sangareddy. This brings the total number of its branches in Telangana State to 72, spread across 33 districts. Zonal manager GSD Prasad, Hyderabad zone, in the presence of KE Harikrishna, deputy zonal manager, Hyderabad zone, and others, along with team Ameenpur, inaugurated the new facility at Sadashiv International School, Kistareddypet, Ameenpur. The Ameenpur branch of BOM will extend all banking transactions and also specific needs of customers, offering the entire spectrum of banking products and financial services covering retail, agri and MSME sectors. “The State-of-the-art new branch of BOM at Ameenpur will be helpful for people in the locality to fulfil their banking and financial needs,” the…

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    • 25 February
      227

      Over 26 per cent of equity mutual funds in India outperform respective benchmarks in January

      The assets under management (AUM) of equity mutual funds stood at Rs 24,85,844 crore Mumbai: More than 26 per cent of equity mutual funds in India outperformed their respective benchmarks in January this year, a report said on Monday. The report, based on analysis of 291 open-ended equity diversified funds, found that 76 mutual fund schemes managed to deliver better returns than their respective indices during January. The assets under management (AUM) of equity mutual funds stood at Rs 24,85,844 crore (excluding sectoral/thematic Funds), the report by PL Wealth Management, a part of Prabhudas Liladhar, said. However, this was a drop by 3.83 per cent from Rs 25,84,851 crore in December 2024 when 60.82 per cent of schemes had outperformed. Small…

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