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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 -
      28 January
      234

      Banks in Telangana will remain closed on these days in February

      Apart from second and fourth Saturdays and all Sundays, the banks will remain closed on Mahashivaratri Hyderabad: Banks will remain closed for seven days in Telangana in the month of February. Apart from the second and fourth Saturdays and all Sundays, the banks will remain closed on February 26 on account of Mahashivaratri. Here’s a list of days on which the banks will remain closed in Telangana next month. Feb 2, 9, 16, 23: Sunday Feb 8, 22: Second and Fourth Saturdays Feb 26:  Mahashivaratri

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    • 28 January
      261

      Why RPG Group chief Goenka thinks sharks are ‘bleeding’ in the tank

      Like every season, Shark Tank India season 4 is making headlines too. But for a different reason. The business-based reality show has sparked buzz with the recent comment by Harsh Goenka, chairman of the RPG Group Hyderabad: Like every season, Shark Tank India season 4 is making headlines too. But for a different reason. The business-based reality show has sparked buzz with the recent comment by Harsh Goenka, chairman of the RPG Group. In a post on X recently, the industrialist said the sharks are ‘bleeding’ in the tank. “I still love watching #SharkTankIndia. But it seems some of our sharks are still navigating choppy waters. There’s more ‘bleeding’ in the tank than I thought!” he wrote on X. Peeyush Bansal…

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    • 28 January
      260

      Government invites application for Sebi chief post as Madhabi Buch’s term ends on Feb 28

      Buch’s tenure saw heightened controversy last year when employees of Sebi protested against ‘toxic work culture’, besides a series of allegations by short-seller Hindenburg and Congress New Delhi: The government on Monday initiated the process to find a chairperson of market regulator Securities and Exchange Board of India (Sebi), a month before the end of tenure of the current chief Madhabi Puri Buch, who was involved in an unsavoury conflict of interest row. The appointment will be for five years or till the candidate attains 65 years of age, as per the advertisement by the Department of Economic Affairs under the Finance Ministry. The last date for filing of applications is February 17. The Ministry also said that keeping in view…

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    • 27 January
      290

      New EV brand ‘Youdha’ autorickshaws launched by Lohia Auto

      The E5 passenger three-wheeler is designed for urban and semi-urban commuting, focusing on space and efficiency, while the E5 cargo model offers a reliable and sustainable solution for logistics Mumbai: Lohia Auto on Monday announced the launch of EV brand ‘Youdha’ as part of its Rs 20-crore expansion plans and said it looks to manufacture and sell 3 lakh electric vehicles under the brand by 2027. The initial product portfolio of ‘Youdha’ includes passenger and cargo segment electric three-wheelers, the company said. With this portfolio, the new brand aims to cater to the diverse needs of the electric three-wheeler segment, Lohia Auto said. “With ‘Youdha’, we are not just creating electric three-wheelers; we are empowering India’s real warriors. Our mission is…

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    • 27 January
      315

      Price hike of popular MG Windsor EV variants puts customers in quandary

      MG Windsor prices have been increased taking the consumers by surprise. There is a hike of Rs 50,000 on each of the three models and a corresponding increase in taxes and insurance too… Hyderabad: In a surprise move, Morris Garage (MG) has hiked the prices of the three variants of the MG Windsor Electric Vehice, raising quite a few eye brows. The increased prices have been communicated to the customers who have booked the EVs, following an advertisement blitzkrieg that put the three variants of the Windsor on top of the list of the EVs sold in India. The hike in ex-showroom price is Rs 50,000 for each of the three variants – Excite, Exclusive and Essence. Consequently, the TCS of…

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    • 27 January
      296

      Maruti’s first electric SUV eVITARA unveiled

      Company aims to export it to over 100 countries New Delhi: Maruti Suzuki India on Friday unveiled its first battery electric vehicle eVITARA, which will be exported to over 100 countries. Speaking at the unveiling of the model at the Auto Expo, held as part of the Bharat Mobility Show, Suzuki Motor Corporation representative Director and President Toshihiro Suzuki said the electric SUV would be exported to various regions, including Europe and Japan. Suzuki Motor Corporation, which has around 58 per cent stake in Maruti Suzuki India, plans to make India a global production hub for the model. “We plan to begin production of the eVITARA” in the coming few months at Maruti Suzuki’s Gujarat plant. From here, we will export…

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    • 27 January
      272

      EVs to hit 30-35% of India’s annual vehicle sales by FY30

      A report predicts with low vehicle ownership and unique growth drivers, India has a chance to leapfrog, making EVs the first car for many, just as it skipped 3G for 4G. By FY30, EVs could hit 30-35 per cent of annual sales New Delhi: The electric vehicle (EV) revolution is in full throttle and EVs could hit 30-35 per cent of annual vehicle sales in India by FY30, though internal combustion engine (ICE) vehicles will still dominate the roads, co-existing with EVs for years to come, according to a new report. India is catching the EV wave, with penetration rising from less than 1 per cent in 2019 to 7.4 per cent in 2024. “With low vehicle ownership and unique growth…

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    • 27 January
      355

      boAt addresses ‘White Labelling’ allegations with ‘Rock in India’ campaign

      ‘Rock in India’ campaign, presented as a short video featuring stand-up comedian Ravi Gupta, humorously tackles the misconception that boAt products are ‘Made in China’ Hyderabad: Amid recent comments of ‘White Labeling,’ boAt, one of India’s leading audio and wearable brands, has taken a satirical approach to address its critics through its latest campaign, ‘Rock in India.’ This campaign, presented as a short video featuring stand-up comedian Ravi Gupta, humorously tackles the misconception that boAt products are ‘Made in China.’ The video portrays a tour guide attempting to prove that boAt’s factory is based in China. However, the narrative takes a surprising twist, showcasing Indian employees working on state-of-the-art devices in Indian settings. This storytelling emphasises boAt’s identity as a Indian…

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    • 26 January
      270

      International spoof calls: Centre gets cracking the whip, over 20 foreign carriers blocked

      Indigenously-developed system to identify and block international spoofed calls that display Indian mobile numbers has significantly brought down such calls to about 4 lakh per day New Delhi: An indigenously-developed system to identify and block international spoofed calls that display Indian mobile numbers has significantly brought down such calls to about 4 lakh per day, the government has informed. Further, the government asked Indian Telcos to initiate drive against foreign carriers or aggregators who are handing over spoofed international calls, and they have blocked more than 20 such carriers to date. The Department of Telecommunications (DoT) recently launched an indigenously-developed International Incoming Spoofed Calls Prevention System, along with all telecom service providers (TSPs). The tool proved to be a formidable barrier…

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    • 26 January
      321

      ICICI Bank net profit surges 15% to Rs 11,792 cr in December quarter

      ICICI Bank’s gross non-performing assets ratio improved to 1.96 per cent as against 2.3 per cent a year ago New Delhi: ICICI Bank on Saturday reported 15 per cent rise in standalone net profit at Rs 11,792 crore for the third quarter ended December 2024. The second-largest private sector lender had earned a net profit of Rs 10,272 crore in the same quarter a year ago. Total income increased to Rs 48,368 crore from Rs 42,792 crore in the same period a year ago, ICICI Bank said in a regulatory filing. Interest income increased to Rs 41,300 crore during the quarter under review as compared to Rs 36,695 crore in the year-ago period. On the asset quality front, the bank’s gross non-performing assets ratio improved to 1.96…

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