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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 -
      19 January
      249

      Space sector seeks PLI scheme, tax holidays, satellite data in Union Budget

      The space sector has put forward its demand ahead of the Union Budget for 2025-26 on February 1 New Delhi: India’s space sector wants the government to spend more on space-based services, slash taxes to spur growth of start-ups and introduce a production-linked incentive scheme for them in the Union Budget. The sector has put forward its demand ahead of the Union Budget for 2025-26 on February 1. The Indian space economy is valued at 8.4 billion dollars and the private sector has just about started making a mark by building satellites and launch systems eyeing a manifold increase over the next decade. “Probably something like a production-linked incentive scheme for the space sector would be helpful from a budget standpoint. A…

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    • 19 January
      234

      CapitaLand announces Rs 450 cr investment for one million sq ft IT park in Hyderabad

      The project aims to meet the growing demand from Global Capability Centers (GCCs) and blue-chip companies for premium facilities. Additionally, CapitaLand’s previously announced 25 MW IT load data center in Hyderabad is set to become operational by mid-2025, highlighting the city’s rising prominence as a key hub for digital infrastructure in India. Hyderabad: CapitaLand Group, a leading global real estate investment and development company headquartered and listed in Singapore, announced a Rs.450 crore investment to develop a state-of-the-art 1 million square foot IT park in Hyderabad. This new project will cater to the increasing demand from Global Capability Centers (GCCs) and blue-chip companies seeking premium facilities. CapitaLand’s earlier announced 25 MW IT load data centre in Hyderabad is on track to…

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    • 19 January
      236

      Amazon Republic Day sale 2025: Unbeatable deals on gadgets, appliances, and more – ends on January 19

      Tech enthusiasts can enjoy up to 80% off on smartwatches packed with advanced features like fitness tracking, GPS, and sleek designs. Tablets are available at discounts of up to 55%, delivering top-tier performance and portability from leading brands. Photography aficionados can enhance their setups with up to 30% off on high-resolution cameras, including DSLRs and mirrorless models. Hyderabad: The Amazon Republic Day Sale 2025 is in full swing, offering massive discounts of up to 87% across a wide range of products. From electronics to home appliances, shoppers can score incredible savings during this limited-time event, which ends on January 29. For gadget enthusiasts, the sale features up to 80% off on smartwatches with advanced features like fitness tracking, GPS, and stylish…

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    • 19 January
      258

      Davos turns into fortress with thousands of security personnel for WEF

      Nearly 5,000 Swiss army personnel, including those equipped with the latest gadgets like drones and AI-powered tools, along with police and civil security personnel, will ensure the safety of high-profile visitors to World Economic Forum in Davos Davos: This highest town in Europe has become synonymous with an annual gathering of the most powerful people in the world and that requires some heavy-duty security cover. Nearly 5,000 Swiss army personnel, including those equipped with the latest gadgets like drones and AI-powered tools, have taken over this small skiing resort town to ensure the safety of its high-profile visitors for the next week and to ensure the successful completion of a rare annual confluence of biggest names in the world from business…

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    • 19 January
      238

      Davos history goes beyond WEF from skiing to Sherlock to sanatorium

      Davos’ history as a modern and popular holiday destination dates back to 150 years when the first winter guests arrived here in 1865 Davos:  There are warnings that the snow-laden town in the Swiss Alps can see snow storms and rains with temperatures expected to continue in sub-zero degrees in and a lot worse at the higher altitudes in Davos. But that does not seem to have dampened the spirits of those having come to the annual talkathon of the rich and powerful from across the world — something that has become synonymous with this place for over five decades now. The five-day World Economic Forum (WEF) Annual Meeting will begin on Monday evening and will continue till Friday. As the…

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    • 18 January
      290

      Weaker rupee to push India’s import bill: Global Trade Research Initiative

      GTRI says depreciating domestic currency will increase India’s gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from USD 65,877 per kg in January 2024 to USD 86,464 per kg in January 2025 New Delhi: The weaker rupee will push the country’s import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India’s gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from USD 65,877 per kg in January 2024 to USD 86,464 per kg in January 2025. Since January 16, last year, the Indian Rupee…

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    • 18 January
      294

      Capital Infra Trust InvIT makes flat market debut; lists at Rs 99

      The public issue of Capital Infra Trust (formerly National Infrastructure Trust) is the first InvIT IPO of 2025 New Delhi: The units of Capital Infra Trust, an infrastructure investment trust (InvIT), made a flat market debut on Friday, listing on par with the issue price of Rs 99. On the BSE and NSE, the units got listed at Rs 99. Later, it traded marginally lower at Rs 98.80, down 0.20 per cent on the BSE. The Initial Public Offer (IPO) of Capital Infra Trust received 2.80 times subscription on the final day of bidding on January 9. The issue had a price band of Rs 99-100 per unit. The company’s IPO had a combination of a fresh issue of units aggregating up to…

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    • 18 January
      419

      Blinkit sets up shop at Maha Kumbh in Prayagraj

      The quick commerce platform will provide all pooja needs and daily essentials in 10 minutes, has also stocked Triveni Sangam Jal bottles New Delhi: Quick commerce platform Blinkit on Friday announced a temporary store at the grand Mahakumbh mela in Prayagraj that will provide all pooja needs and daily essentials in 10 minutes. “Today we’ve opened a temporary Blinkit store in Maha Kumbh Mela, Prayagraj to serve pilgrims and tourists,” said Albinder Dhindsa, CEO, Blinkit, in a post on social media platform X. One can buy milk or fruits and vegetables for offering, as well as essential items like chargers, power banks, towels, and even blankets from the store. Dhindsa said the 100 sqft store will be delivering essentials in Arail Tent City,…

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    • 18 January
      366

      Centre approves Rs 11,440 crore Rashtriya Ispat Nigam Ltd revival plan

      Infusion includes Rs 10,300 crore as equity capital into RINL, conversion of Rs 1,140 crore working capital loan as 7% non-cumulative preference share capital redeemable after 10 years New Delhi: The Union Cabinet has approved a Rs 11,440 crore revival plan for debt-laden Rashtriya Ispat Nigam Ltd (RINL), according to a statement released on Friday. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the revival plan for RINL for Rs 11,440 crore, it added. The infusion includes Rs 10,300 crore as equity capital into RINL and conversion of Rs 1,140 crore working capital loan as 7 per cent non-cumulative preference share capital redeemable after 10 years to keep RINL as a going concern, the official statement said. With this…

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    • 18 January
      361

      BMW launches first ‘Made in India’ X1 Long Wheelbase All Electric

      Priced at Rs 49 lakh, the electric SUV features fifth-generation BMW eDrive technology, promises comfort and versatility New Delhi: BMW India on Friday launched its first-ever ‘Made in India’ BMW X1 Long Wheelbase All Electric at the ‘Bharat Mobility Global Expo 2025’ here. The introductory ex-showroom price of the BMW X1 Long Wheelbase All Electric eDrive20L M Sport is Rs 49,00,000, the company said in a statement. The BMW X1 Long Wheelbase All Electric becomes the first electric vehicle by BMW to be ‘Made in India’. Locally produced at BMW Group Plant Chennai, the BMW X1 Long Wheelbase All Electric is available exclusively in the eDrive20L drivetrain. “BMW has pioneered a disruption in the Indian premium automotive segment by launching the first-ever X1…

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