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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 -
      19 February
      217

      NCC Limited hands over 12 2BHKs to kin of tribal hero Gam Gantam Dora

      The company’s has built these flats under corporate social responsibility in Alluri Seetharama Raju district of Andhra Pradesh Battapanukula: NCC Limited, a leading construction and infrastructure company, handed over 12 two-bedroom flats, free of cost, to the kin of tribal hero Gam Gantam Dora, in Battapanukula, Alluri Seetharama Raju district of Andhra Pradesh. Gam Gantam Dora played a vital role in the freedom struggle alongside the legendary revolutionary Alluri Sitarama Raju. Built under the company’s corporate social responsibility (CSR), the project involved a cost of Rs 2.5 crore. NCC Ltd’s Chairman Emeritus AVS Raju, who was honoured by President Droupadi Murmu during the 125th  birth anniversary celebrations of Alluri Sitarama Raju in 2023, had pledged to construct the flats for the tribals to improve their…

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    • 19 February
      235

      Hyderabad-based PURE EV ties up with JioThings to integrate smart digital clusters, telematics in EVs

      Under the collaboration, for which the two partners have signed an initial pact, PURE EV will explore JioThings’ smart digital clusters, which include end-to-end IoT solutions, into its electric two-wheelers to enhance their functionality and interactivity Mumbai: Electric two-wheeler maker PURE EV on Tuesday said it has partnered with JioThings, a subsidiary of Jio Platforms, to integrate smart digital clusters and telematics into its electric vehicles. Under the collaboration, for which the two partners have signed an initial pact, PURE EV will explore JioThings’ smart digital clusters, which include end-to-end IoT solutions, into its electric two-wheelers to enhance their functionality and interactivity, the Hyderabad-based company said. The incorporation of telematics enabled by 4G connectivity will allow customers to monitor vehicle performance…

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    • 18 February
      219

      Foreign holdings of South Korean stocks at lowest level amid Trump tariff woes

      It marked the lowest level since Sept 20, 2023, when offshore investors owned 31.97 pc of KOSPI-listed stocks. Seoul: Despite the recent upbeat stock market, foreign ownership of South Korean shares has fallen to the lowest level in nearly one and a half years, data showed on Sunday. Foreign investors’ holdings of Korean stocks on the benchmark Korea Composite Stock Price Index (KOSPI) accounted for 31.96 percent, or 676.43 trillion won ($468.53 billion), of the total market capitalization as of Thursday, according to the data compiled by Yonhap Infomax, the financial data firm of Yonhap News Agency. It marked the lowest level since September 20, 2023, when offshore investors owned 31.97 percent of KOSPI-listed stocks. Foreign investors net sold local stocks for…

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    • 18 February
      228

      Indian stock market opens lower, Nifty below 22,850

      Nifty Bank was down 177.75 points or 0.36 per cent at 48,921.70. Mumbai: The Indian benchmark indices opened lower on Monday amid mixed global cues as selling was seen in auto, IT and PSU bank sectors in the early trade, as the upcoming reciprocal trade tariffs announced by the US government stayed on top of the investors’ mind. At around 9.34 am, Sensex was trading 423.88 points or 0.56 per cent down at 75,515.33 while the Nifty declined 126.45 points or 0.55 per cent at 22,802.80. Nifty Bank was down 177.75 points or 0.36 per cent at 48,921.70. Nifty Midcap 100 index was trading at 49,503.50 after declining 150.65 points or 0.30 per cent. Nifty Smallcap 100 index was at 15,430.75 after rising 23.55…

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    • 18 February
      233

      Opinion: Tax relief doesn’t resolve structural issues

      A significant portion of the population does not participate in the tax system, limiting the potential impact of such relief on the broader economy The highly anticipated Union Budget 2025-26 was unveiled at a time when the Indian economy is facing mounting challenges. With the rupee experiencing continued depreciation, foreign institutional investors (FIIs) have been persistent net sellers since October 2024, and the stock market has witnessed a prolonged downturn. The expectations from the government had soared this time. Adding to the above concerns, India’s gross domestic product (GDP) growth declined from 6.7 per cent in August 2024 to 5.4 per cent in November 2024, reflecting a slowdown in the economic momentum. Against this backdrop, the Budget become a crucial policy instrument…

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    • 18 February
      223

      StockGro, Zomato to empower delivery partners with financial literacy

      Under the initiative, tailored education sessions local languages will be held, allowing delivery partners to access the content easily Hyderabad: StockGro, the investment advisory and knowledge platform dedicated to enhancing financial literacy, has announced its collaboration with Zomato to help Zomato’s delivery partners manage their finances better. The initiative aims at empowering delivery partners with financial literacy through tailored education sessions, which will be available in multiple local languages, including Hindi, Tamil, Telugu, Bengali, Kannada, and more, allowing delivery partners from across the country to access the content easily. The sessions will cover essential topics such as budgeting, saving, investing and future planning. The initiative marks a crucial step in enhancing financial well-being within the gig economy, helping delivery partners make informed decisions that directly…

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    • 18 February
      240

      Sell-off in Indian equities due to FII profit booking: Finance Minister Sitharaman

      Says Indian economy has an environment in which investments are yielding good returns Mumbai: Seeking to assuage concerns over foreign institutional investors (FII) selling Indian equities lately, Finance Minister Nirmala Sitharaman on Monday attributed the action to profit booking. Speaking to reporters in the financial capital, Sitharaman said the Indian economy is one where the investors are bagging better returns which leads to profit booking. “FIIs also go out when they are able to or in a position to book profits. Indian market today, Indian economy today, has an environment in which investments are also yielding good returns and profit booking is also happening,” she said. It can be noted that FIIs have sold over Rs 1.56 lakh crore of stocks…

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    • 17 February
      349

      Ajax Engineering makes weak debut; lists lower at Rs 593 on BSE

      Shares of Ajax Engineering Ltd on Monday listed on the bourses with a discount of over 8 per cent against the issue price of Rs 629. The stock began the trade at Rs 593, a discount of 5.72 per cent on the BSE New Delhi: Shares of Ajax Engineering Ltd on Monday listed on the bourses with a discount of over 8 per cent against the issue price of Rs 629. The stock began the trade at Rs 593, a discount of 5.72 per cent on the BSE. It later dropped 10.17 per cent to Rs 565. At the NSE, it listed at Rs 576, registering a decline of 8.42 per cent. The company’s market valuation stood at Rs 6,613.29…

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    • 17 February
      321

      RBI’s restrictions on New India Co-operative Bank trigger panic 

      The bank has been barred from accepting new deposits or allowing withdrawals, leaving account holders in distress Mumbai: The Reserve Bank of India’s (RBI) restrictions on New India Co-operative Bank, located in Bandra, Mumbai, have triggered panic among customers, who are now unable to access their deposits.People are queuing up outside the bank to withdraw their deposits. On Friday morning, customers received messages informing them of the RBI’s decision. The bank has been barred from accepting new deposits or allowing withdrawals, leaving account holders in distress. Ajay More, a long-time customer, expressed his frustration to IANS: “I have been banking here for 22 years. My wife and I have all our savings in this bank. Without any prior notice, we…

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    • 17 February
      356

      India takes on reciprocal tariffs, cuts duty on bourbon whiskey in latest move

      The Union Budget presented earlier in the month has already reduced Customs duties on quite a few items. The most recent is the duty cut on bourbon whiskey Hyderabad: US President Donald Trump has asserted that Washington will not spare India from reciprocal tariffs. The US President, at a joint media briefing with the Indian Prime Minister Narendra Modi on February 14, said both sides are looking at striking a major trade deal soon while calling import duties imposed by India on certain US products as “very unfair” and “strong”. “Whatever India charges, we will charge them,” Trump said, adding “We are being reciprocal with India.” During 2021-24, the US was the largest trading partner of India. During April-November 2024-25,…

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