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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 -
      9 February
      243

      Tata Motors unveils registered vehicle scrapping facility in Guwahati

      In addition, it will also ensure safe disposal of end-of-life vehicles, reduce carbon emissions, and contribute to a cleaner environment. Guwahati: Tata Motors on Saturday launched its registered vehicle scrapping facility (RVSF) here that has the capacity to safely dismantle up to 15,000 end-of-life vehicles annually, using sustainable and environmentally conscious processes. The facility is operated by Tata Motors’ partner, Axom Platinum Scrappers, and is equipped to scrap both passenger and commercial vehicles of all brands. This marks the inauguration of the seventh such facility in the country with others being in Jaipur, Bhubaneswar, Surat, Chandigarh, the Delhi-NCR region and Pune. “The launch of this advanced vehicle recycling facility will create valuable employment opportunities and support economic growth of our state…

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    • 9 February
      262

      Rajnath Singh, Rahul Gandhi expected at Invest inaugural event in Bengaluru

      Patil further announced the first-ever Invest Karnataka Awards, recognising 14 pioneering industries that have shaped the state’s industrial growth. Bengaluru: Karnataka Medium and Large Industries Minister M.B. Patil on Saturday announced that Defence Minister Rajnath Singh and the Leader of the Opposition in the Lok Sabha Rahul Gandhi are among the leaders expected to attend the inaugural event ahead of Global Investors Meet (GIM) – Invest Karnataka 2025 on February 11. The GIM is scheduled from February 12–14. Addressing media in Bengaluru, Patil said: “Distinguished leaders, including Defence Minister Rajnath Singh, Leader of Opposition in Lok Sabha Rahul Gandhi, Union Minister of Commerce and Industry Piyush Goyal, Union Minister of Consumer Affairs Pralhad Joshi, Union Minister of Heavy Industries H.D. Kumaraswamy,…

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    • 8 February
      250

      Internet major Naver’s Q4 net income up 48.8 pc on robust sales

      Naver attributed the strong performance to improved sales of its businesses. Seoul: Naver Corp, South Korea’s leading internet portal operator, said on Friday its fourth-quarter net profit jumped nearly 50 percent from a year earlier thanks to robust sales from its search and e-commerce business. Net profit for the three months ending in December totalled 444.1 billion won ($306.6 million), up 48.8 percent from 298.4 billion won a year earlier, the company said in a regulatory filing. Its operating profit for the period rose 33.7 percent on-year to 542 billion won. Sales increased 13.7 percent to 2.88 trillion won, reports YOnhap news agency. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 415.6 billion…

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    • 8 February
      206

      Hyundai to suspend Ioniq 5, Kona Electric production amid slowing EV demand

      The line is used in producing the Ioniq 5 and the Kona Electric. Seoul: Hyundai Motor will temporarily suspend production of its Ioniq 5 and Kona Electric models, as weakening electric vehicle (EV) demand continues to impact sales, according to industry sources on Friday. According to the sources, Hyundai Motor will halt operations of Line 12 at its Ulsan Plant 1 in South Korea from Feb. 24-28 to adjust production volumes amid sluggish domestic sales and declining orders, reports Yonhap news agency. The line is used in producing the Ioniq 5 and the Kona Electric. Hyundai Motor sold only 75 Ioniq 5 units last month domestically, with total domestic sales for 2024 reaching around 16,600 units, falling short of market…

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    • 8 February
      210

      Banks to have ‘bank.in’ internet domain name, non-banks ‘fin.in’: RBI

      The initiative aims to reduce cyber security threats and malicious activities like phishing, and streamline secure financial services Mumbai: In order to check cyber security threats, the Reserve Bank on Friday decided that Indian banks will have exclusive internet domain name ‘bank.in’ and non-bank financial entities ‘fin.in’. Unveiling the last bi-monthly monetary policy of this fiscal year, RBI Governor Sanjay Malhotra said registrations for ‘bank.in’ will commence from April 2025, and going forward ‘fin.in’ will be introduced. The decision is aimed at enhancing trust in the financial sector, he said adding the increased instances of fraud in digital payments are a significant concern. “To combat the same, the Reserve Bank of India (RBI) is introducing the ‘bank.in’ exclusive Internet Domain…

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    • 8 February
      228

      Rate cut to spur residential demand, lower home loan rates: Industry

      The Central Bank’s Monetary Policy Committee (MPC) cut the repo rate by 25 basis points to 6.25 percent. New Delhi: The real estate industry on Friday welcomed the much-awaited benchmark rate cut of 25bps by the Reserve Bank of India (RBI), saying lowered interest rates will further nudge homebuyers to buy an ownership home with an upgraded lifestyle. The Central Bank’s Monetary Policy Committee (MPC) cut the repo rate by 25 basis points to 6.25 percent. RBI Governor Sanjay Malhotra said the MPC has also unanimously decided to continue with a neutral stance and will focus on inflation while supporting growth. According to Boman Irani, President, CREDAI National, the decision supplements recent announcements in the Union Budget aimed at boosting…

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    • 8 February
      187

      Swiggy’s shares tank for 4th straight day, slip below IPO price

      Swiggy’s stock has now fallen nearly 40 per cent from its all-time high of Rs 617 which was reported on December 23, 2024. Mumbai: Following a decline for the fourth consecutive day, shares of online food aggregator Swiggy on Friday slipped below its initial public offering (IPO) issue price of Rs 390. According to market experts, the company’s shares are dropping due to investors’ reaction to the company’s higher-than-expected losses in the third quarter (Q3 FY25). After touching a high of Rs 397.65 and a low of Rs 374.8, the stock fell by 2.5 per cent to Rs 379.20 on the BSE during the intra-day trade. Global financial services company Macquarie has remained the biggest bear on the stock with…

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    • 7 February
      220

      Zomato to trade as ‘Eternal’ on stock exchanges

      Eternal will serve as the umbrella brand for four major businesses — Zomato, Blinkit, District and Hyperpure. New Delhi: Food-tech giant Zomato on Thursday officially changed the company’s name to Eternal, following an approval from its board. In a stock exchange filing, the online food aggregator said that when we acquired Blinkit, we started using “Eternal” (instead of Zomato) internally to distinguish between the company and the brand/app. “We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there,” said Deependra Goyal, Co-founder of Zomato. The group CEO added that “we would like to rename Zomato Ltd., the company (not the brand/app), to…

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    • 7 February
      220

      Hyderabad: 3-day workshop on horticulture to begin at Hitex on Friday

      The workshop is being organized by the Telangana Horticulture Officers Association (THOA) in coordination with the Department of Horticulture. Hyderabad: A three-day “Workshop on Innovative Technologies in Horticulture Crops Production and Value Addition” is being organized as part of the ‘Kisan Agri Show’ at HITEX in Hyderabad from February 7-9. The workshop is being organized by the Telangana Horticulture Officers Association (THOA) in coordination with the Department of Horticulture. The workshop aims to provide a dynamic platform for horticulturists, farmers and stakeholders to share knowledge, explore new technologies, and discuss advancements in the horticultural practices. The first day of the workshop, on Friday, February 7, will feature horticultural experts speaking on bamboo cultivation, fruits export with special emphasis on mango, and…

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    • 6 February
      262

      Budget to boost consumption sectors, DeekSeek AI an opportunity for Indian IT firms

      The capex budget has risen 15 per cent CAGR in the past 10 years and the allocation until 2030 is likely to exceed $1.2 trillion, Bengaluru: The Union Budget will boost consumption sector and long-term policies are favourable for urban housing, insurance and defence-related industries, according to a new report. The capex budget has risen 15 per cent CAGR in the past 10 years and the allocation until 2030 is likely to exceed $1.2 trillion, according to managers at smallcase, a leading provider of investment products and platforms for the Indian capital markets industry. According to them, large capex investments are likely to be beneficial for banks and specialised infra NBFCs. “While most of the consumption focused companies are overvalued but consumer…

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