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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

    • Nov- 2025 -
      9 November
      109

      ED calls Anil Ambani for fresh questioning in Rs 40,000 crore money laundering case

      The Enforcement Directorate (ED) has summoned Reliance ADAG Chairman Anil Ambani again on November 14 in a money laundering probe after attaching Rs 4,462 crore worth of land in Navi Mumbai. The case involves alleged diversion of loans worth Rs 40,000 crore New Delhi: The Enforcement Directorate (ED) has summoned Reliance ADAG Group Chairman, Anil Ambani, again on November 14 for questioning in the money laundering case against the conglomerate, according to sources. The development comes close on the heels of ED provisionally attaching over 132 acres of land worth Rs 4,462.81 crore in Dhirubhai Ambani Knowledge City at Navi Mumbai earlier this week, under the provisions of Prevention of Money Laundering Act, sources added. ED had earlier attached 42 properties…

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    • 9 November
      101

      ED summons Anil Ambani again in money laundering case on Nov 14

      The ED has summoned Anil Ambani on November 14 in a money laundering case involving Reliance ADAG group firms. The agency recently attached assets worth ₹4,462 crore, alleging diversion of ₹40,000 crore in loans across group entities. New Delhi: The Enforcement Directorate (ED) has summoned Reliance ADAG Group Chairman, Anil Ambani, again on November 14 for questioning in the money laundering case against the conglomerate, according to sources. The development comes close on the heels of ED provisionally attaching over 132 acres of land worth Rs 4,462.81 crore in Dhirubhai Ambani Knowledge City at Navi Mumbai earlier this week, under the provisions of Prevention of Money Laundering Act, sources added. ED had earlier attached 42 properties worth over Rs 3,083 crore…

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    • 8 November
      138

      Sensex, Nifty rebound on global cues and blue-chip buying

      Benchmark indices Sensex and Nifty rebounded in early trade on Thursday, tracking global gains and buying in blue-chip stocks. Asian Paints led the rally even as FIIs sold shares and DIIs turned net buyers, exchange data showed. Mumbai: Benchmark indices Sensex and Nifty rebounded in early trade on Thursday, tracking a rally in global markets and buying in blue-chip stocks. The 30-share BSE Sensex climbed 376.89 points to 83,836.04 in early trade. The 50-share NSE Nifty went up by 81.5 points to 25,679.15. From the Sensex firms, Asian Paints jumped over 4.50 per cent. Mahindra & Mahindra, Reliance Industries, State Bank of India, Adani Ports, Trent and Larsen & Toubro were also among the gainers. However, Power Grid, Eternal, Bajaj Finance and HDFC…

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    • 8 November
      119

      Rupee gains 8 paise against US dollar amid weak greenback, firm equities

      The rupee appreciated by 8 paise to 88.62 against the US dollar in early trade on Thursday, supported by strong domestic equities and lower crude prices. However, selling by foreign investors limited larger gains, forex traders said. Mumbai: The rupee appreciated 8 paise to 88.62 against the US dollar in early trade on Thursday amid a weak American currency and lower level of crude oil prices overseas. Positive sentiment in domestic equity markets also supported the Indian currency even though selling pressure from foreign investors prevented a sharp gain, forex traders said. At the interbank foreign exchange, the rupee opened at 88.51 and went up to 88.49 before trading at 88.62 against the greenback in early deals, up 8 paise from its previous…

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    • 8 November
      131

      Hyderabad-based Aurobindo Pharma’s Q2 net profit up 4 per cent to Rs 848 crore

      The drug major continues to see healthy demand across key markets, with US and Europe businesses performing in line with expectations, said its Vice-Chairman and Managing Director K Nithyananda Reddy New Delhi: Aurobindo Pharma on Wednesday posted a 4 per cent increase in its consolidated net profit to Rs 848 crore for the second quarter ended September 30, aided by robust sales in the US and Europe markets. The Hyderabad-based drug major had reported a net profit of Rs 817 crore in the July-September period of the last fiscal. Its revenue from operations rose to Rs 8,286 crore for the September quarter from Rs 7,796 crore in the year-ago period, Aurobindo Pharma said in a statement. “Q2 has been another steady quarter for…

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    • 8 November
      133

      Microsoft to enable in-country data processing for 15 nations by 2026, including India

      Microsoft will allow Microsoft 365 Copilot interactions to be processed locally in 15 countries by 2026, including India. The move enhances data security, sovereignty, and compliance for governments and regulated industries, following recent legal and operational updates in India New Delhi: Technology giant Microsoft has announced plans to introduce in-country data processing for its artificial intelligence (AI) tool, Microsoft 365 Copilot, in 15 countries by 2026, including India, in a move aimed at strengthening data sovereignty and regulatory compliance. According to a company blog post, customers in India, Australia, Japan and the United Kingdom will have the option to process Microsoft 365 Copilot interactions within their national borders by the end of 2025. “Microsoft is pleased to announce that we are…

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    • 8 November
      114

      Gold prices remain under pressure as dollar strengthens; MCX gold futures slip to Rs 1.20 lakh

      Gold prices stayed weak amid a stronger US dollar and global market caution. Spot gold hovered around $3,940 per ounce, while MCX December futures fell 0.43 per cent to Rs 1,20,886 per 10 grams. Experts expect a rebound later this year. New Delhi: Gold prices remained under pressure on Wednesday after witnessing their sharpest decline in over a week, as investors weighed the recent strength of the US dollar against a broader risk-off sentiment across global markets. Spot gold hovered around $3,940 per ounce after sliding nearly 2 per cent in the previous session, following five straight days of gains in the dollar index. Global equities also extended their decline, marking their steepest fall in almost a month amid concerns about…

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    • 8 November
      114

      WhatsApp gets relief as NCLAT lifts CCI ban on sharing data with Meta

      The NCLAT has set aside the CCI’s five-year ban on WhatsApp sharing user data with Meta Platforms for advertising purposes, while retaining the ₹213 crore penalty imposed for anti-competitive practices linked to WhatsApp’s 2021 privacy policy update New Delhi: Appellate tribunal NCLAT on Tuesday set aside a section of a Competition Commission of India (CCI) order that had banned WhatsApp from sharing data with Meta Platforms for advertising purposes for five years. Modifying the order passed by the CCI on November 18, 2024, the NCLAT set aside section 247.1 of the 158-page-long order. However, the tribunal retained the Rs 213 crore penalty on the company and the rest of the order. “We are setting aside the findings of the Commission insofar…

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    • 7 November
      191

      IndiGo posts Rs 2,582 crore Q2 loss on forex impact

      IndiGo’s parent company, InterGlobe Aviation, reported a Rs 2,582 crore net loss for the September quarter, mainly due to adverse currency movements. Despite a 10 per cent rise in topline revenue, the airline’s shares slipped over 1 per cent on the BSE New Delhi: InterGlobe Aviation, the parent of the country’s largest airline IndiGo, on Tuesday reported a net loss of Rs 2,582.10 crore for the three months ended September, as the bottom line was mainly impacted by currency movements. The airline’s loss in the year-ago period stood at Rs 986.7 crore. According to a regulatory filing, the company raked in a total income of Rs 19,599.5 crore in the second quarter of the current financial year, higher than Rs 17,759…

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    • 7 November
      256

      SBI reports 10 per cent jump in Q2 profit

      State Bank of India (SBI) reported a 10 per cent rise in standalone net profit to Rs 20,160 crore for the September quarter of FY26. Improved asset quality and higher interest income supported the bank’s strong quarterly performance New Delhi: The country’s biggest lender, State Bank of India (SBI), on Tuesday reported a 10 per cent improvement in standalone profit to Rs 20,160 crore in the quarter ended September 30, 2025. The bank had earned a profit of Rs 18,331 crore in the July-September quarter a year ago. The lender’s total income increased to Rs 1,34,979 crore, from Rs 1,29,141 crore in the second quarter of the last fiscal year. Interest earned during the period increased to Rs 1,19,654 crore, from…

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