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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 -
      23 January
      245

      LinkedIn appoints Deepak Agarwal as chief AI officer

      Deepak Agarwal comes with 24 years of experience in engineering and AI roles, having previously held leadership positions at Pinterest and Yahoo New Delhi: Professional networking platform LinkedIn on Wednesday announced that it has appointed Deepak Agarwal as the new chief AI officer (CAIO). Agarwal comes with 24 years of experience in engineering and AI roles, having previously held leadership positions at Pinterest and Yahoo. It is his second stint leading AI at LinkedIn. In his previous role, he served as the VP of AI for eight years. “During his time at LinkedIn, Deepak played a key role in developing AI innovations at a massive scale, which has been serving as the foundation for much of the company’s AI efforts today,” said the…

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    • 23 January
      256

      Call from bank? Pick only if it has these numbers

      Reserve Bank of India has asked banks to follow two particular phone numbering series for transactional and promotional purposes. The move comes amid a surge in fraud cases Hyderabad: The Reserve Bank of India in a recent notification has asked banks to use only the ‘1600xx’ phone numbering series to call customers for transactional purposes. The central bank has also instructed them to undertake promotional voice calls and SMS only through phone numbers beginning with ‘140xx’. The move comes amid the proliferation of digital transactions which has led to a surge in frauds, a pressing concern for bankers. “The mobile number of a customer has emerged as a ubiquitous identifier, instrumental in account authentication and verification process, receiving sensitive payment communication, such…

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    • 23 January
      231

      HDFC Bank announces 2.2% rise in net profit at Rs 16,736 crores for December quarter

      HDFC Bank’s gross non-performing assets (NPA) ratio rose during the December quarter Mumbai: India’s largest private lender HDFC Bank on Wednesday reported a 2.2 per cent rise in its net profit for Q3 this fiscal, as its gross non-performing assets (NPA) ratio rose during the quarter. For the December quarter, the bank’s profit stood at Rs 16,736 crore, compared to Rs 16,373 crore in the same period last year. Net interest income, or the bank’s core income, rose nearly 8 per cent (year-on-year) to Rs 30,650 crore. Core net interest margin stood at 3.43 per cent for the bank and 3.62 per cent on an interest-earning asset basis. In the September quarter, the respective figures were at 3.46 per cent and 3.65 per…

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    • 23 January
      246

      Royal Enfield launches Scram 440 with price tag of Rs. 2.08 lakh

      Built on the same chassis as the outgoing Scram 411, the Scram 440 has slightly enhanced weight and a saddle height of 795mm and ground clearance of 200mm Hyderabad: Royal Enfield has officially launched the Scram 440 in India on Wednesday, replacing the Scram 411. With this launch, the two-wheeler maker marks its entry into the very competitive ADV crossover motorcycle segment. Scram 440 features a powerful Long Stroke 443CC single-cylinder, air-cooled engine which delivers 34 Nm of torque at 4000 rpm and 25.4 horsepower at 6,250 rpm. The engine comes paired with a 6-speed gearbox, which is also a significant upgrade from the 5-speed gearbox on the Scram 411. Built on the same chassis as the outgoing Scram 411, the…

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    • 23 January
      213

      No talks with Pakistan on resumption of trade: Jaishankar

      The then-Pakistan government headed by Imran Khan suspended all bilateral trade in August 2019 in retaliation to India abrogating Article 370 of its Constitution Washington: There have been no talks with Pakistan on resumption of trade with India, External Affairs Minister S Jaishankar said on Wednesday. “After last year, there have been no talks with Pakistan on trade, nor has any initiative come from their side,” Jaishankar said in response to a question at a news conference here. India, he said, never stopped trade with Pakistan, and the decision in this regard was taken by the Pakistan government in 2019. “From the very beginning, our interest was that India should get the status of most favoured nation. We used to give MFN status to Pakistan. But…

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    • 22 January
      233

      Standard Glass Lining debut with premium of nearly 26 per cent

      The company’s market valuation stood at Rs 3,541.97 crore New Delhi: Shares of Standard Glass Lining Technology Ltd listed with a premium of nearly 26 per cent against the issue price of Rs 140 on Monday. The stock made its market debut at Rs 176, rallying 25.71 per cent from the issue price on the BSE. Later, it surged 29.78 per cent to Rs 181.70. At the NSE, it listed at Rs 172, up 22.85 per cent. The company’s market valuation stood at Rs 3,541.97 crore. The initial share sale of Standard Glass Lining Technology Ltd received a huge 182.57 times subscription on the final day of bidding on Wednesday. The Rs 410.05-crore Initial Public Offering (IPO) had a price band…

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    • 22 January
      254

      United Breweries makes truce with Telangana govt for now; Kingfisher beer flows into State

      UBL had suspended the supply of its beer to Telangana Beverages Corporation Limited due to non-revision of basic price of the company’s beer from 2019-20 Hyderabad: United Breweries, maker of Kingfisher beer, has decided to resume the supply of beer to Telangana Beverages Corporation Limited (TGBCL) with immediate effect. In a filing to exchange on January 20, it said: “We wish to inform you that the company has decided to resume the supply of its beer to Telangana Beverages Corporation Limited (TGBCL) with immediate effect. We have been in talks with TGBCL, and these have been constructive discussions. TGBCL has assured us it will address our issues with pricing and outstanding payments in a timely manner.” It, however, added that, “This…

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    • 22 January
      241

      Hyderabad not among four cities shortlisted by Airbus

      The Airbus has shortlisted Uttar Pradesh, Gujarat, Andhra Pradesh and Karnataka for the proposed production unit. The unit is being proposed in partnership with Tata Advanced Systems Limited (TASL) and already final assessment of sites is under progress, according to reports HYDERABAD: In the last 10 years, Hyderabad emerged as the preferred destination for aerospace and defense manufacturing units. And, in sharp contrast to the trend, Hyderabad has not featured among the four cities shortlisted by Airbus for its H125 helicopters production unit. The Airbus has shortlisted Uttar Pradesh, Gujarat, Andhra Pradesh and Karnataka for the proposed production unit. The unit is being proposed in partnership with Tata Advanced Systems Limited (TASL) and already final assessment of sites is under progress,…

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    • 22 January
      227

      Zomato shares in free fall on poor Q3 show

      Shares plunge 12 per cent after food delivery aggregator Zomato reported a 57.2 per cent drop in consolidated net profit to Rs 59 crore in the December quarter New Delhi: Shares of food tech unicorn Zomato plummeted 12 per cent in the morning trade on Tuesday after the food delivery aggregator reported a 57.2 per cent drop in consolidated net profit for the December quarter to Rs 59 crore. The scrip of the company fell 11.81 per cent to Rs 212.50 apiece on the BSE. On the NSE, shares of Gurugram-headquartered Zomato depreciated by 9.99 per cent to hit its lower circuit level of Rs 215.80 per piece. On Monday, shares of Zomato settled more than 3 per cent lower on the bourses.…

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    • 22 January
      343

      Satya Nadella, Sundar Pichai among most influential global leaders of Indian origin

      The HSBC Hurun Global Indians List 2024 names Leena Nair, global CEO of Chanel, among the most influential women of Indian origin Hyderabad: Microsoft chairman Satya Nadella, Alphabet and Google CEO Sundar Pichai, and Neal Mohan of YouTube are among the most influential global leaders of Indian origin, according to the HSBC Hurun Global Indians List 2024.Microsoft chairman Satya Nadella, Alphabet and Google CEO Sundar Pichai Leena Nair, global CEO of Chanel, is among the most influential women of Indian origin. The cumulative value of the companies led by global Indians stands at USD 10 trillion. The top 10 individuals account for nearly 73% of the total value on the list. Neha Narkhede (Confluent), Anjali Sud (Tubi, an over-the-top content platform), Yamini Rangan…

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