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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 -
      17 February
      354

      Income Tax department activates section wise mapping of I-T Act, Tax bill

      Income Tax payers can now match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T Bill, 2025, on the tax department portal New Delhi: Income Tax payers can now match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T Bill, 2025, on the tax department portal. Also, Section to Section mapping as per Income Tax Act, 1961 and Section number as per New Income Tax Bill has been uploaded on the I-T department’s website. A simplified Income Tax Bill, 2025, was introduced in the Lok Sabha on February 13 by Finance Minister Nirmala Sitharaman. The Bill, once enacted, will replace the 64 years old Income Tax Act which…

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    • 17 February
      414

      After Hyundai Motor, LG Electronics India set for mega IPO

      Chairman and CEO Koo Kwang-mo of parent group, LG Corp, likely to visit India this month.The proposed Rs 15,000 cr public offering would position it alongside companies like LIC, Hyundai Motor, Paytm and Coal India in launching mega IPOs on the domestic benchmark indices New Delhi: After Hyundai Motor India Ltd (HMIL), the Indian subsidiary of Hyundai Motor Company, listed on the Indian stock market in a landmark Rs 27,856 crore initial public offering (IPO), another South Korean giant LG’s India arm is all set for its mega IPO. Ahead of the public listing of LG Electronics India, Chairman and CEO Koo Kwang-mo of its parent group, LG Corp, is likely to visit India this month. According to reports, LG…

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    • 15 February
      278

      Adani Green Energy exits Sri Lanka wind power, transmission projects

      The company reaffirms commitment to any future collaboration with the South Asian country Ahmedabad: Adani Green Energy on Thursday said it is withdrawing from further engagements in the renewable energy (RE) wind energy project and two transmission projects in Sri Lanka. However, it reaffirmed the availability of any development opportunity in the South Asian country. “Adani Green Energy has conveyed its Board’s decision to respectfully withdraw from further engagement in the RE wind energy project and two transmission projects in Sri Lanka,” an Adani Group spokesperson said in a statement. “However, we remain committed to Sri Lanka and are open to future collaboration if the Government of Sri Lanka so desires,” the spokesperson added. The Adani Green teams had several rounds of discussions with…

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    • 15 February
      255

      OnePlus introduces ‘Red Rush Days’ sale

      OnePlus’ ‘Red Rush Days’ sale is an initiative aimed at giving back to the community for their continued support and trust in OnePlus over the years Hyderabad: Globad technology brand OnePlus, on Wednesday announced a new initiative for the India community – the ‘Red Rush Days’ sale starting February 11 to February 16, 2025. During the sale period, India community members can enjoy exclusive discounts, exciting bank offers and lucrative EMI schemes on OnePlus community favourite products, including flagship smartphones, Nord series and IoT devices, the company said in a press release. According to the release, OnePlus’ ‘Red Rush Days’ sale is an initiative aimed at giving back to the community for their continued support and trust in OnePlus over the years.…

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    • 15 February
      177

      Editorial: Tariff tensions

      The Modi-Trump meeting is an opportunity for both countries to pursue a pragmatic approach towards trade The tensions surrounding tariffs and immigration are set to dominate the agenda of bilateral meetings between the visiting Prime Minister Narendra Modi and the United States President Donald Trump whose recent actions have triggered jitters among his friends and foes alike. While the two leaders have often described each other as good friends in the past and even held joint political rallies together, the meeting comes at a time when the relationship is being tested by Trump’s tariff threats and deportation realities. India needs to do some hard bargaining as Trump, despite all his public posturing and rhetoric, comes across as a transactional President. He recently issued orders levying 25% tariffs on…

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    • 15 February
      312

      How Mukesh Ambani is readying for a DeepSeek moment

      As China’s homegrown AI model challenges the biggies with unprecedented cost efficiency, India’s largest business house is doubling down on its own AI push with a calculated strategy Hyderabad: DeepSeek has forced a global rethink on AI, but Mukesh Ambani is moving ahead sure-footed, ensuring India isn’t left behind. As China’s homegrown AI model challenges the biggies, including OpenAI’s GPT-4 with unprecedented cost efficiency, and even as BigTech comes out with their plans for the country one by one, India’s largest business house isn’t rattled. Instead, Reliance Industries is doubling down on its own AI push with a calculated strategy, building the world’s largest AI-driven data centre in Jamnagar, Gujarat, powered by Nvidia’s advanced semiconductors — high-end chips that come at…

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    • 15 February
      262

      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 are…

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    • 14 February
      141

      Industrial production registered 3.2 percent growth in Dec 2024: Data

      Industrial production registered 3.2 percent growth in Dec 2024: Data New Delhi: India’s industrial growth, based on the Index of Industrial Production (IIP), was recorded at 3.2 per cent in December 2024, according to the data released by the Ministry of Statistics on Wednesday. The manufacturing sector, which accounts for more than three-fourths of the index of industrial production (IIP), posted a 3 per cent growth during December 2024. The sector plays a key role in providing quality jobs to the young graduates passing out from the country’s engineering institutes and universities. Within the manufacturing sector, 16 out of 23 industry groups at NIC 2 digit-level have recorded a positive growth in December 2024 over December 2023. The top three…

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    • 14 February
      168

      Adani Group benefitted from Centre relaxing border security rules: Report

      Senior Indian army officers overseeing operations in the area were reportedly not consulted about the decision, raising surprise and concern among army ranks. Indian conglomerate Adani Group has benefitted from the Union government overriding senior army officials and relaxing the country’s border security norms, alongside the Indo-Pakistan border in Gujarat, reports The Guardian. According to the report, the Adani Group is building its flagship solar and wind energy park alongside the Pakistan border in Rann of Kutch, on lands leased from the Gujarat state government. The reports say Adani Group’s Khavda plant, which is supposed to be the largest solar plant on the planet, is laying solar panels and wind turbines one kilometre away from the border. Until recently, no…

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    • 14 February
      231

      Stock market opens high as Trump indicates ‘wonderful trade deals’ for India, US

      Sensex was trading 279.95 points or 0.37 pc up at 76,418.92 while the Nifty climbed 84 points or 0.36 pc at 23,115.40. Mumbai: The Indian benchmark indices opened higher on Friday as Prime Minister Narendra Modi and US President Donald Trump announced plans to cement “some wonderful trade deals” for India and the US. The Sensex was trading 279.95 points or 0.37 per cent up at 76,418.92 while the Nifty climbed 84 points or 0.36 per cent at 23,115.40. Nifty Bank was up 196.75 points or 0.40 per cent at 49,556.60. Nifty Midcap 100 index was trading at 51,014.20 after climbing 133 points or 0.26 per cent. Nifty Smallcap 100 index was at 15,953.60 after dropping 20.25 points or 0.13…

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