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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

    • Jan- 2025 -
      30 January
      227

      Symphony launches ‘hair fall control geysers’ for healthier hair and skin

      The company has launched 3 models – 9 SKUs in the water heater segment – Symphony Spa, Symphony Sauna, and Symphony Soul in 10-litre, 15-litre, and 25-litre capacities Hyderabad: Symphony has launched a new range of water heating solutions presenting them as hair fall control geysers for healthier hair and skin. The company in a press release announced that it has come up with a range of water heaters with a 9-layer PuroPod Technology that converts hard water into soft water, filtering out harmful chemicals and sediments—one of the causes of hair fall. The company has launched 3 models – 9 SKUs in the water heater segment – Symphony Spa, Symphony Sauna, and Symphony Soul in 10-litre, 15-litre, and 25-litre capacities.…

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    • 30 January
      222

      Chinese tech company Alibaba releases new AI model, claims it will surpass DeepSeek-V3

      Interestingly, the release of the new AI model came on the first day of the Lunar New Year, when most of China is closed and people are off their work Hyderabad: Soon after Chinese tech company DeepSeek gained attention for its new AI model, another Chinese tech company Alibaba, on Wednesday, released a new version of its Qwen 2.5 Artificial Intelligence model, claiming that it would surpass the DeepSeek-V3. “As we welcome the Chinese New Year, we are thrilled to announce the launch of Qwen 2.5-VL, our latest flagship version-language model,” the tech company shared on social media X. It further added that Qwen 2.5-Maz outperforms GPT-4o, DeepSeek-V3, and Llama-3.1-405B almost across the board. Interestingly, the release of the new AI model came…

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    • 30 January
      240

      McLaren expects more Indians to buy supercars this year

      McLaren feels that in 2025 it can better the performance of last year Bullish on the Indian market, British supercar maker McLaren is looking to cash in on the growth opportunity in the country having crossed cumulative sales milestone of 50 units, according to a top official of the company’s distributor. Since officially entering the Indian market in 2022, McLaren, which sells high-end supercars priced Rs 6.5 crore onwards, feels that in 2025 it can perform better than what it achieved last year, Lalit Choudary, Dealer Principal of McLaren Mumbai, told PTI. “McLaren entered India in 2022. We have crossed the 50 car mark (cumulatively) which is quite a bit for us. It is a good number to achieve in a period…

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    • 29 January
      205

      A day after China’s DeepSeek rattles Big Tech stocks, Asian markets open mixed on Jan 28

      Markets in South Korea, Shanghai markets and other parts of the region were closed for holidays. Among technology companies in Japan, SoftBank Group Corp. stock extended its losses, plunging 6%. Hitachi Ltd. lost 7%, but Fujitsu and Sony Corp. recovered TOKYO: Asian shares were mixed in thin Lunar New Year trading on Tuesday after Wall Street’s tech superstars tumbled as a competitor from China raised doubts over the recent artificial-intelligence market frenzy. Japan’s benchmark Nikkei 225 lost 1.5% to 38,959.05. Australia’s S&P/ASX 200 was little changed, inching down 0.1% to 8,399.10. Hong Kong’s Hang Seng rose 0.1% to 20,225.11. Markets in South Korea, Shanghai markets and other parts of the region were closed for holidays. Among technology companies in Japan, SoftBank…

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    • 29 January
      180

      Paytm CEO quits

      Post the FDI nod, company awaits RBI approval for aggregator licence New Delhi: Nakul Jain, Managing Director and CEO of Paytm Payments Services Ltd (PPSL), has resigned from the company and has decided to pursue an entrepreneurial journey, according to a statutory filing by One 97 Communications. PPSL is actively working on identifying a suitable replacement and will announce the new appointment in due course, the filing said adding that in the interim, the company remains focused on driving growth and continuing to meet its business objectives. “We wish to inform you that Paytm Payments Services Ltd (PPSL) our wholly-owned material subsidiary company has informed us that Nakul Jain, Managing Director and Chief Executive Officer (CEO) of PPSL, has resigned from his…

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    • 29 January
      237

      Editorial: Chinese shocker to Big Tech

      DeepSeek’s AI assistant, developed at a fraction of the cost of its rivals and using less computing power, threatens to upset the technology world order In technology markets, disruption can happen anytime and emerge from any corner. When it does happen, even the well-entrenched market leaders can potentially face existential threats overnight. American technology giants are now realising this the hard way. Chinese startup, DeepSeek, is creating waves in the artificial intelligence (AI) sector with its cost-effective AI models set to challenge the US tech dominance. DeepSeek’s AI assistant, developed at a fraction of the cost of its rivals and using less computing power, is threatening to upset the technology world order. Backed by a hedge fund in China, DeepSeek’s…

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    • 29 January
      257

      Nothing teases new product: Phone 3a to be launched ahead of Phone 3?

      The teaser comes after the London-based company confirmed earlier that the Nothing Phone 3 would debut in March 2025 Hyderabad: Smartphone maker Nothing has recently shared a teaser of an upcoming product. Surprisingly, the company has stayed tight-lipped about the exact model that will be launched. The teaser comes after the London-based company confirmed earlier that the Nothing Phone 3 would debut in March 2025. However, with no barely any information revealed, tech enthusiasts are left wondering what the next launch could be. With the Nothing Phone 2 being launched back in July 2023 and the company confirming the launch of a new smartphone in March this year, speculations are rife that the company will launch the Phone 3 or…

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    • 29 January
      248

      Mahavir Skoda launches all-new Skoda Kylaq in exclusive event

      The much-anticipated SUV combines state-of-the-art safety features, luxurious design, and exceptional performance Hyderabad: Skoda India has announced the launch of its all-new Skoda Kylaq in an exclusive event at Mahavir Skoda, Jubilee Hills. The much-anticipated SUV, which has already garnered attention for being the “safest car in its segment,” was launched by Mahavir Skoda and unveiled in the presence of Anila Pendse, Head, Business and Brand Development at Skoda India, a press release stated. To ensure customers can experience Kylaq’s performance, luxurious interiors, and cutting-edge features up close, test drives for the Skoda Kylaq are available at Mahavir Skoda. Speaking on the occasion, Anila Pendse said, “Customers are encouraged to schedule their test drives at their earliest convenience to explore the Kylaq’s features”. The Skoda Kylaq combines state-of-the-art safety features, luxurious design, and exceptional performance. With an NCAP safety rating of 5 stars, Kylaq has been engineered to deliver both comfort and protection for its occupants, the…

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    • 28 January
      247

      Rupee falls 22 paise to 86.44 against US dollar on January 27

      The rupee opened at 86.35 then fell further to 86.44 against the American currency, as Trump Tariffs uncertainty gained Mumbai: The rupee depreciated 22 paise to 86.44 against the US dollar in early trade on Monday, weighed down by the strength of the American currency in the overseas market and a muted trend in domestic equities. Forex traders said the Indian rupee gained on Friday but opened on a lower note on Monday as Trump Tariffs uncertainty gained. At the interbank foreign exchange, the rupee opened at 86.35 then fell further to 86.44 against the American currency, registering a decline of 22 paise over its previous close. On Friday, the rupee appreciated 22 paise to close at 86.22 against the US…

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    • 28 January
      223

      New bid for TikTok

      The new proposal from Perplexity AI, the artificial intelligence search engine startup, could give US government 50 per cent stake in the new entity Washington: Perplexity AI has presented a new proposal to TikTok’s parent company that would allow the US government to own up to 50 per cent of a new entity that merges Perplexity with TikTok’s US business, according to a person familiar with the matter. The proposal, submitted last week, is a revision of a prior plan the artificial intelligence startup had presented to TikTok’s parent ByteDance on Jan 18, a day before the law that bans TikTok went into effect. The first proposal, which ByteDance hasn’t responded to, sought to create a new structure that would merge…

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