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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 -
      14 February
      187

      Disney+ Hotstar, JioCinema join hands, announces new platform JioHotstar

      The new platform now comprises close to 3 lakh hours of entertainment, live sports coverage, and more than 50 crore users Mumbai: Streaming platforms JioStar, the recently formed JV with the merger of Viacom18 and Star India, on Friday morning formerly announced the launch of JioHotstar, bringing together the streaming platforms JioCinema and Disney+ Hotstar. The new platform now comprises close to 3 lakh hours of entertainment, live sports coverage, and more than 50 crore users, according to a statement. “At the core of JioHotstar is a powerful vision—to make premium entertainment truly accessible to all Indians. Our promise of Infinite Possibilities ensures that entertainment is no longer a privilege, but a shared experience for all. By integrating AI-driven recommendations…

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    • 14 February
      206

      Wholesale price inflation eases to 2.31pc in Jan

      WPI based inflation was 2.37 per cent in December 2024. New Delhi: Wholesale price inflation moderated to 2.31 per cent in January due to the decline in prices of food items especially vegetables, government data released on Friday showed. The Wholesale Price Index (WPI) based inflation was 2.37 per cent in December 2024. It was 0.33 per cent in January 2024. As per the data, inflation in food items eased to 5.88 per cent in January, as against 8.47 per cent in December 2024. Inflation in vegetables came down significantly to 8.35 per cent, as against 28.65 per cent in December 2024. Inflation in potato continued to be high at 74.28 per cent, and in onion it spiked to 28.33…

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    • 13 February
      223

      Digital Arrest, the con that thrives on fear of law enforcement

      There is no such thing as Digital Arrest in the law. Call 1930 for help, says Reserve Bank of India Hyderabad: A family in Noida was recently duped of over Rs 1 crore after they were kept under ‘digital arrest’ for five days by some unknown people who posed as government officials. This is just the latest in the fast-growing number of digital arrest cases in the country. While for political leaders and business honchos, the CBI and the ED can come calling anytime, and their visits may just be a routine affair, for the common man, this is a scary thing and s/he will do anything to stay out of it. Fear of the police and other law enforcement agencies in India…

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    • 13 February
      218

      Relief to Gautam Adani in US bribery case?

      US President Donald Trump signs order to pause enforcing of 1977 Foreign Corrupt Practices Act that prohibits firms from bribing officials of foreign governments Washington: US President Donald Trump signed an executive order directing the Department of Justice (DoJ) to pause enforcing a nearly half-century-old law that was used to launch a bribery investigation against the Adani Group. Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business. The President directed US Attorney General Pam Bondi to pause enforcement of FCPA, which was at the heart of some of the US Department of Justice’s most high-profile cases, including…

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    • 13 February
      218

      Key details of the New Income Tax Bill, Deets here

      New I-T Bill, likely to be tabled in Parliament on February 13, will have 536 sections and do away with ‘previous year’ concept New Delhi: A crispier and simplified Income Tax Bill 2025, having 536 sections, and 23 chapters running into 622 pages, is likely to be introduced in the Lok Sabha on Thursday. The Bill once enacted will replace six-decade old Income Tax Act 1961, which over the years became bulkier and complex with amendments.The proposed law replaces the term ‘previous year’ as mentioned in the Income Tax Act, 1961 with ‘tax year’. Also, the concept of assessment year has been done away with. Currently, for income earned in the previous year (say 2023-24), tax is paid in assessment year (say 2024-25).…

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    • 13 February
      235

      Sensex slumps 777.07 points on trade war fears

      The 30-share BSE benchmark Sensex was trading at 75,520.88 in early trade on February 12, Nifty falls below the crucial 23,000-mark Mumbai: Benchmark indices Sensex and Nifty slumped in initial trade on Wednesday, February 12, as unabated foreign fund outflows and trade war fears continued to unnerve investors. The 30-share BSE benchmark Sensex declined 777.07 points and was trading at 75,520.88 at 10.14 am on February 12. The NSE Nifty was down 239.85 points to 22,831.95. Both the benchmark indices further declined in the trade with the Nifty falling below the crucial 23,000-mark to trade at 22,915.40, down 156.40 points. In the past five days, the BSE bellwether gauge has slumped 2,290.21 points or 2.91 per cent, while the Nifty tanked 667.45 points or 2.81…

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    • 13 February
      262

      GMR Aero Technic, Liebherr-Aerospace ink strategic agreement

      Under this agreement, GMR Aero Technic will collaborate with Liebherr-Aerospace to offer comprehensive repair services for heat exchangers Hyderabad: GMR Aero Technic, India’s leading maintenance, repair, and overhaul (MRO) provider, has entered into a landmark agreement with Liebherr-Aerospace, a global leader in aircraft systems manufacturing and servicing. This partnership marks a significant step forward in advancing MRO capabilities for the Indian aviation sector. Under this agreement, GMR Aero Technic will collaborate with Liebherr-Aerospace to offer comprehensive repair services for heat exchangers. The collaboration will leverage Liebherr’s technological expertise and GMR Aero Technic’s infrastructure and skilled workforce to provide high-quality, cost-effective repair solutions to airlines operating in India and the surrounding region, a press release said.

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    • 12 February
      222

      Ajax Engineering IPO opens for subscription, watch out for Hexaware Tech

      IT services firm Hexaware Technologies’ Rs 8,750-crore IPO will open on February 12 Hyderabad: The initial public offering (IPO) of Bengaluru-based Ajax Engineering Limited opened for subscription on Monday, February 10. The company aims to raise Rs 1,269.35 crore through the IPO, which is an offer for sale (OFS) of 2.02 crore shares. The Kedaara Capital-backed concrete equipment manufacturer has fixed a price band of Rs 599 to Rs 629 per share. As part of the OFS (when promoters sell their shares to raise additional funds), Kedaara Capital will offload 74.37 lakh shares. Just days before the IPO, the company said it had mobilised Rs 379 crore from anchor investors.  SBI Mutual Fund (MF), Axis MF, HSBC MF, Edelweiss MF, ITI MF,…

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    • 12 February
      210

      Trump tariff hikes: Indian steel producers in for tough times, says Moody’s

      The rating agency says steel producers will face increased challenges in exporting their products after the US decision to impose an additional 25 per cent tariff on all steel and aluminium imports New Delhi: Moody’s Ratings on Monday said Indian steel producers will face increased challenges in exporting their products following the US decision to impose an additional 25 per cent tariff on all steel and aluminium imports as announced by President Donald Trump. Over the past 12 months, high steel imports into India have already dampened prices and earnings of steel producers in India, said Hui Ting Sim, assistant vice president at Moody’s Ratings. As per think tank Global Trade Research Initiative (GTRI) data, since the trade war began in…

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    • 12 February
      200

      Elon Musk makes bid to buy OpenAI, Altman says he’ll buy Twitter instead

      No thank you but we will buy twitter for $9.74 billion if you want, wrote Altman on X mocking Tesla CEO’s proposed bid Hyderabad: A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion.This adds to the ongoing rivalry between the Tesla CEO and OpenAI CEO Sam Altman. The offer was submitted to OpenAI’s board on Feb 11, according to Musk’s lawyer, Marc Toberoff. OpenAI is operated by a nonprofit that controls OpenAI LP, a for-profit company. However, Altman has rejected Musk’s offer and jokingly made a counter-bid on X. “No thank you but we will buy twitter for $9.74 billion if you want,” he wrote on X. He also mocked Musk by…

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