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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 -
      11 November
      220

      PhysicsWallah secures Rs 136 crore from Think Investments before Rs 3,480-crore IPO

      Global investment firm Think Investments has invested Rs 136 crore in edtech unicorn PhysicsWallah ahead of its Rs 3,480-crore IPO opening on November 11. The investment involves a 0.37 per cent stake purchase from 14 employees at Rs 127 apiece New Delhi: Global investment firm Think Investments has invested a little over Rs 136 crore in edtech unicorn PhysicsWallah as part of a pre-IPO funding round. The fresh infusion comes as the company gears up for its upcoming initial public offering (IPO) next week. As part of the transaction, Think Investments picked up 1.07 crore equity shares, amounting to 0.37 per cent stake in PhysicsWallah from 14 employees of the edtech firm. The shares were bought at Rs 127 per piece,…

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    • 10 November
      113

      BSE places RRP Semiconductors and eight others under weekly trading surveillance

      The Bombay Stock Exchange (BSE) has placed nine stocks, including RRP Semiconductors, under a new weekly trading surveillance framework from November 10, 2025, to curb excessive volatility and maintain market integrity Mumbai: Bombay Stock Exchange (BSE) has imposed a new weekly trading surveillance measure on nine stocks, including RRP Semiconductors, to address excessive volatility following unusual price movements in the stocks. The exchange announced that starting November 10, 2025, new measures will apply to companies exclusively listed on BSE under specific groups that trade above Rs 100, have a 2 per cent price band, and possess a price/earnings (PE) ratio greater than 500 or negative, and that have reached the upper price band for two consecutive weeks. “In continuation of our…

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    • 10 November
      126

      5G and premium smartphones to power India’s market growth in 2025

      India’s smartphone market is projected to grow moderately in 2025, driven by 5G adoption, premiumisation, and strong festive demand. According to CMR, 5G phones now account for 89% of shipments, with affordable models fueling the next wave of growth New Delhi: The Indian smartphone market is expected to witness moderate growth in 2025, with shipments projected to increase in single digits, according to a new report. The report notes that the market is poised for sustained momentum, driven by 5G upgrades, rising premiumization, and growing consumer demand for connected device ecosystems. According to CyberMedia Research (CMR), India’s smartphone market grew 7 percent year-over-year (YoY), driven by festive cheer, accelerated 5G adoption, and a strong premium push led by Apple, Vivo, and…

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    • 10 November
      121

      Gold records third weekly loss amid fading hopes of US Fed rate cut

      Gold prices fell for a third consecutive week, pressured by a stronger dollar and fading hopes of a US Fed rate cut. Global economic uncertainty, eased US–China trade tensions, and changes in China’s gold retail policies also impacted bullion demand. Mumbai: The price of 24-carat gold (10 grams) dipped by Rs 670 over the week, impacted by a stronger dollar and reduced expectations for another US Federal Reserve rate cut. The price of 10 grams of 24-carat gold closed the week at Rs 1,20,100 down from Rs 1,20,770 last week, according to data published by the India Bullion and Jewellers Association (IBJA). International bullion remained around $4,000 for the week, facing pressure following Fed Chair Jerome Powell’s hawkish remarks, even as…

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    • 10 November
      127

      Over 700 US flights cancelled as government shutdown disrupts air travel

      The US government shutdown is causing widespread flight cancellations, with over 700 flights scrapped on Friday. Air traffic controllers working without pay are leaving, raising fears that delays and cancellations could worsen before the Thanksgiving holiday. Washington: Airlines across the United States cancelled hundreds of flights as the continuing government shutdown deepened strains on the nation’s air travel system. As of midday Friday, some 780 flights or roughly 3 per cent of the 25,000 scheduled nationwide had been cancelled, according to aviation analytics firm Cirium. Cancellations could accelerate sharply in the coming days as more air traffic controllers are forced to seek other employment due to unpaid work. Transportation Secretary Sean Duffy warned that flight reductions could surge to as much…

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    • 10 November
      129

      Musk wins Tesla shareholder vote, edges closer to trillionaire status

      Elon Musk won shareholder approval for a Tesla pay plan that could make him the world’s first trillionaire if he meets ambitious targets, including EV production and deploying a million humanoid robots, amid criticism over his management and public conduct New York: The world’s richest man was just handed a chance to become history’s first trillionaire. Elon Musk won a shareholder vote on Thursday that would give the Tesla CEO stock worth $1 trillion if he hits certain performance targets over the next decade. The vote followed weeks of debate over his management record at the electric car maker and whether anyone deserved such unprecedented pay, drawing heated commentary from small investors to giant pension funds and even the Pope. In the end,…

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    • 9 November
      106

      Sensex, Nifty tumble in early trade as FII outflows and global cues drag markets

      Benchmark indices Sensex and Nifty fell sharply in early trade on Friday amid persistent foreign fund outflows and weak global cues. IT and tech stocks led the losses even as DIIs continued to support the market through strong buying. Mumbai: Benchmark indices Sensex and Nifty tumbled in early trade on Friday as relentless foreign fund outflows and weak trends in global markets hit investors’ sentiment. The 30-share BSE Sensex tanked 631.93 points to 82,679.08 in early trade. The 50-share NSE Nifty declined 184.55 points to 25,325.15. From the Sensex firms, Bharti Airtel, HCL Tech, Tech Mahindra, NTPC, Tata Consultancy Services and Maruti were among the biggest laggards. However, ITC, ICICI Bank, Eternal and Power Grid were among the gainers. In Asian markets, South…

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    • 9 November
      98

      Rupee slips 3 paise to 88.66 against US dollar amid FII outflows, strong greenback

      The rupee fell 3 paise to 88.66 against the US dollar on Friday amid foreign fund outflows and a stronger greenback. Weak domestic equities and higher crude oil prices further weighed on the local currency, traders said. Mumbai: The rupee declined 3 paise to 88.66 against the US dollar in early trade on Friday as the American currency strengthened against major rivals and foreign investors kept on withdrawing funds from the Indian capital market. According to forex traders, the Indian rupee was also weighed down amid intense selling in domestic equity markets and upward movement in crude oil prices in the overseas market. At the interbank foreign exchange, the rupee opened at 88.61 and slid further to trade at 88.66 against the greenback…

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    • 9 November
      110

      Mahindra sells entire stake in RBL Bank for Rs 678 crore

      On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore  New Delhi: Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53 per cent stake in RBL Bank for Rs 678 crore, representing a 62.5 per cent gain on the investment. On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of a 3.53 per cent stake in RBL Bank as a treasury investment at a cost of Rs 417 crore. “In furtherance to above, we would like to inform you that the company has today sold its entire stake in RBL Bank for a consideration…

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    • 9 November
      113

      Gold prices regain shine as dollar dips; silver surges too

      Gold futures on the MCX surged Rs 791 to Rs 1,21,313 per 10 grams on Thursday, supported by firm global cues and a weaker dollar. Silver followed suit, gaining Rs 1,251 per kg as global prices rose above USD 4,000 per ounce New Delhi: Gold prices climbed by Rs 791 to Rs 1,21,313 per 10 grams in the futures trade on Thursday, supported by firm global cues and a weak dollar. On the Multi Commodity Exchange (MCX), gold futures for December delivery appreciated by Rs 791, or 0.66 per cent, to Rs 1,21,313 per 10 grams from the previous close of Rs 1,20,522 per 10 grams. The February 2026 contract appreciated by Rs 909, or 0.75 per cent, to Rs 1,22,747…

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