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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 -
      21 January
      268

      PVR INOX launches customised movie experience for re-release films

      With this new feature, one can choose what, when and where to watch with SCREENIT feature on PVR INOX app New Delhi: Buoyed by strong consumer response to re-released films, cinema chain PVR INOX Ltd on Monday introduced a feature allowing movie lovers to create or join customised shows at their preferred cinemas. The company has introduced a platform named SCREENIT available only on PVR INOX app allowing customers to curate their movie experience. It gives audiences the opportunity to relive classics and fan favourites and enables them to choose from a diverse library of over 500 titles and create community-driven screenings, PVR INOX said in a statement. “SCREENIT empowers audiences to curate their movie experience, ?choosing what, when and where to watch,…

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    • 21 January
      248

      Hydrogen-powered trucks: Tata Motors to launch pilot project

      Under the pilot project, the company along with IOCL will run the trucks on three routes for 18 months New Delhi: Tata Motors will start operating trucks powered by hydrogen internal combustion engines on a pilot basis in the March quarter, according to a senior company official. Under the pilot project, part of the National Green Hydrogen Mission, the company along with IOCL will run the trucks on three routes for 18 months. At the Bharat Mobility Global Expo 2025, Tata Motors, last week, unveiled the truck powered by a hydrogen internal combustion engine. Tata Motors Executive Director Girish Wagh said the company is getting ready for both technologies — hydrogen internal combustion engine and fuel cell electric vehicles. The trucks…

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    • 21 January
      229

      Hyderabad-based Cyient expands partnership with Deutsche Aircraft

      Cyient has been awarded a multi-year contract to manage the advanced technical documentation to support the product lifecycle of safety-critical aviation systems for the 40-seater regional turboprop the D328eco. Hyderabad: Hyderabad-based Cyient on Monday announced expansion of its strategic partnership with Deutsche Aircraft, the German regional aircraft manufacturer. Cyient has been awarded a multi-year contract to manage the advanced technical documentation to support the product lifecycle of safety-critical aviation systems for the 40-seater regional turboprop the D328eco. The solution will support Deutsche Aircraft’s global customer base with a modular and scalable architecture, personalized user experience, faster time to market, and worldwide access through any device. It will take advantage of Cyient AI products embedded in the solution, a press release said.…

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    • 21 January
      277

      Trump suspends US foreign assistance for 90 days pending reviews

      It is not clear about how much assistance would be affected by the order as funding for many programmes has already been appropriated by Congress WASHINGTON: President Donald Trump signed an executive order on Monday temporarily suspending all US foreign assistance programs for 90 days pending reviews to determine whether they are aligned with his policy goals. It was not immediately clear how much assistance would initially be affected by the order as funding for many programs has already been appropriated by Congress and is obligated to be spent, if not already spent. The order, among many Trump signed on his first day back in office, said the “foreign aid industry and bureaucracy are not aligned with American interests and in…

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    • 21 January
      243

      Trump likely to impose tariff on Canada on February 1

      Trump has been threatening to impose sweeping tariffs on Canada, Mexico and other trading partners Toronto: Canadian leaders expressed relief on Monday that broad tariffs were not applied to Canadian products on the first day of Donald Trump’s presidency, but Trump later said he could impose a 25 per cent tariff on Canada and Mexico on February 1. Trump has been threatening to impose sweeping tariffs on Canada, Mexico and other trading partners. An incoming White House official who insisted on anonymity pointed reporters on Monday morning to a Wall Street Journal story saying Trump will only sign a memorandum telling federal agencies to study trade issues. Still, Trump pledged in his inaugural address that tariffs would be coming and said…

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    • 20 January
      358

      90-hour week difficult, work quality matters more, says Nalin Negi of BharatPe

      Says younger organisations’ approach to attracting talent is different from larger, older companies who may have a cookie-cutter approach New Delhi: Amid a raging debate in India Inc over 90-hour work week, BharatPe CEO Nalin Negi has said that quality matters more when it comes to measuring outcomes and productivity of employees at workplace, not long hours clocked in, as he emphasised that fintech firm does not have such extreme work hour expectations. The comment assumes significance as it came at a time when there is a spotlight over gruelling work hour expectations in corporate India, after L&T Chairman SN Subrahmanyan expressed regret over not being able to make staff work on Sundays. Negi told PTI in an interview that quality…

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    • 20 January
      314

      Sarla Aviation unveils India’s first flying taxi prototype

      Precision manufacturing firm Sona SPEED signs MoU with Bengaluru-based Sarla Aviation towards the goal New Delhi: In a bid to realise the dream of air taxis and transform urban mobility in India, the country’s first flying taxi prototype, called ‘Shunya’, has been unveiled at the Bharat Mobility Global Expo 2025 here. Precision manufacturing firm Sona SPEED signed a memorandum of understanding (MoU) with Bengaluru-based Sarla Aviation towards this goal. Sarla Aviation is developing India’s most sophisticated electric vertical take-off and landing (eVTOL) aircraft. Union Minister for Heavy Industries and Steel, HD Kumaraswamy, visited the Sarla Aviation booth, and showed keen interest in the flying taxi prototype, considered a historic step toward sustainable and futuristic mobility in the country. Sona SPEED motors have…

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    • 20 January
      267

      TikTok ‘in process’ of restoring service to US users after Trump’s ‘clarity’

      Move comes after President-elect says he planned to sign an executive order after his inauguration to give China-based parent company more time to work out a deal to keep the ban from becoming permanent Washington: TikTok says it’s “in the process” of restoring service to users in the United States after the popular video-sharing platform went dark in response to a new law. The company that runs TikTok said in a post on X on Sunday that tech companies that faced fines if they didn’t remove TikTok’s app from the digital stores and other service providers had agreed to help. TikTok thanked President-elect Donald Trump, who on Sunday said he planned to sign an executive order after his inauguration on Monday…

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    • 20 January
      272

      Billionaires’ wealth grew $5.7 billion a day in 2024

      Oxfam International predicts at least five trillionaires will crop up over the next decade. A year ago, the group forecast that only one trillionaire would appear during that time DAVOS: Billionaires’ wealth grew three times faster in 2024 than the year before, a top anti-poverty group reported on Monday as some of the world’s political and financial elite prepared for an annual gathering in Davos, Switzerland. Oxfam International, in its latest assessment of global inequality timed to the opening of the World Economic Forum meeting, also predicts at least five trillionaires will crop up over the next decade. A year ago, the group forecast that only one trillionaire would appear during that time. Oxfam’s research adds weight to a warning by outgoing President…

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    • 20 January
      378

      Kotak Mahindra Bank shares surge 10 per cent on Q3 results

      Kotak Mahindra Bank posted 10 per cent growth in consolidated net profit at Rs 4,701 crore, helped by the performance of its capital markets-linked arms Kotak Securities and Kotak Mahindra Capital New Delhi: Shares of Kotak Mahindra Bank on Monday jumped nearly 10 per cent after the firm posted a 10 per cent growth in its consolidated net at Rs 4,701 crore, aided by the performance of capital markets-linked arms. The stock surged 9.66 per cent to Rs 1,928.65 on the BSE. At the NSE, it soared 9.68 per cent to Rs 1,929. The stock was the biggest gainer among the BSE Sensex and NSE Nifty firms during the morning trade.The firm announced the earnings on Saturday. On a standalone basis, the private…

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