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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 -
      15 January
      221

      Google’s search ad business under scanner in Britain

      The Competition and Markets Authority said it will examine whether Google is weakening competition by stifling innovation, giving preference to its own services, or exploiting user data LONDON: Britain’s competition watchdog said Tuesday it’s investigating Google’s search ad business, adding to global scrutiny that the US tech giant is facing. The Competition and Markets Authority said it will examine whether Google is weakening competition by stifling innovation, giving preference to its own services, or exploiting user data. Using new powers to investigate competition in digital markets, the watchdog said it would determine whether Google should be given “strategic market status” that would require imposing remedies to change its behaviour. The regulator said it will look in particular at Google’s role in…

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    • 15 January
      245

      A day after hitting all-time low against US dollar, rupee gains 17 paise, settles at 86.53

      Recovery in domestic equity markets supported by positive macroeconomic numbers helps sentiment in currency market Mumbai: The rupee rebounded from its lowest-ever level and settled 17 paise higher at 86.53 against the US dollar on Tuesday as the American currency retreated from record high.Some recovery in domestic equity markets after the release of macroeconomic numbers also supported the Indian currency even though it remained under pressure due to elevated crude oil prices and continuous outflow of foreign funds.At the interbank foreign exchange, the rupee opened at 86.57 and touched the intra-day high of 86.45 before closing for the day at 86.53 against the greenback, registering a gain of 17 paise from its previous close.On Monday, the rupee logged its steepest single-day…

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    • 14 January
      301

      Vidya Wires files draft papers with SEBI

      To raise funds through an initial public New Delhi: Winding and conductivity products maker Vidya Wires has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 320 crore by the company, and an offer for sale (OFS) of up to 1 crore equity shares by promoters, according to the Draft Red Herring Prospectus (DRHP) on Saturday. The company proposes to utilise the net proceeds towards funding capital expenditure requirements for setting up new projects in subsidiary ALCU, payment of debt, and general corporate purposes. Vidya Wires is one of the largest manufacturers of winding and conductivity products for a range…

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    • 14 January
      280

      Japanese electronics brand JVC re-enters Indian TV market

      Launches premium smart QLED TVs available exclusively on Amazon New Delhi: Japanese consumer electronics brand JVC is re-entering into the India TV market through a brand licence agreement with Noida-based Super Plastronics Pvt Ltd (SPPL). Earlier, the Japanese brand had entered India’s TV market in 2019 in partnership with Veira Group, an original equipment manufacturer (OEM) for consumer durables. Before that, JVC was having a technological partnership with Onida Electronics (formerly known as Mirc Electronics), which had launched colour televisions. In its latest innings, JVC has launched its range of premium smart QLED televisions through SPPL, which will be available exclusively on Amazon’s e-commerce platform. SPPL, which already has a portfolio of five global brands, operating in the TV and appliances…

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    • 14 January
      236

      Despite reduced funding, India’s fintech sector ranks 3rd in globe in terms of fund infusion: Report

      Funds raised by sector sees a decline of 33 per cent on a year-over-year basis to $1.9 billion in 2024 New Delhi: India ranked third globally in terms of funding received in the fintech segment despite a decline of 33 per cent on a year-over-year basis to $1.9 billion in 2024, market intelligence firm Tracxn said in a report on Monday. The sector witnessed a decline in funding, driven by a broader slowdown in demand and geopolitical headwinds, Tracxn’s Annual India fintech report 2024 said. “The fintech sector experienced a notable decline in funding in 2024, with a total of $1.9 billion raised. This represents a 33 per cent decrease from the $2.8 billion secured in 2023. The Indian fintech ecosystem…

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    • 14 January
      257

      Kishan Reddy to attend global mining event in Riyadh

      Reddy will be on a official visit to Saudi Arabia from January 14-16 New Delhi: Coal and Mines Minister G Kishan Reddy will on Tuesday begin his three-day trip to Riyadh, Saudi Arabia, to attend a global mining event. “G Kishan Reddy will be on a three-day official visit to Riyadh, Saudi Arabia from January 14-16,” the Mines ministry said in a statement. The ministerial round table of the Future Minerals Forum 2025 is being organised by Saudi Arabia for a focused discussion on mineral supply chains and energy transition. On the sidelines of the event, the minister will meet Mining Ministers from other countries. Reddy will also visit and interact with the Indian diaspora in Riyadh. India is the second largest trade partner for Saudi Arabia whereas…

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    • 14 January
      329

      Rupee plunges to historic low of 86.62 against US dollar

      Biggest single-day fall in nearly two years for Indian currency against greenback Mumbai: The rupee logged its steepest single-day fall in nearly two years and ended the session 58 paise down at its historic low of 86.62 (provisional) against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices. At the interbank foreign exchange, the rupee opened at 86.12, and moved 1 paisa during intraday to 86.11 before closing the session with a loss of a staggering 58 paise at its lowest-ever level of 86.62 (provisional) against the greenback. The fall of 58 paise, or 0.67 per cent, in one session was the steepest since February 6, 2023 when the unit had lost 68…

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    • 13 January
      349

      Naidu vows to transform Andhra Pradesh into green energy hub

      Andhra Pradesh Chief Minister says the southern State is very keen on using natural gas Tirupati: Chief Minister N Chandrababu Naidu on Sunday said that Andhra Pradesh will be transformed into a clean and green energy hub, encouraging the use of non-polluting fuel. Observing that revolutionary changes are happening across the country in fuel and energy, the Chief Minister said the southern State is very keen on using natural gas. “We are very keen to use natural gas in Andhra Pradesh and for that we will extend all the cooperation to those who are interested to work in this direction,” said Naidu, addressing a conference organised by a city gas distribution company. On Sunday, he started a piped gas supply for…

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    • 13 January
      337

      Maha Kumbh likely to generate over Rs 4 lakh crore in trade

      As per industry estimates, Maha Kumbh is expected to boost both nominal and real GDP by over 1 per cent New Delhi: As Maha Kumbh sets to begin in Prayagraj at the holy confluence of the revered Ganga, Yamuna and Saraswati rivers from Monday, the largest religious congregation on Earth is anticipated to generate more than Rs 4 lakh crore in trade in a significant boost to India’s economy. As per industry estimates, Maha Kumbh is expected to boost both nominal and real GDP by over 1 per cent. The Uttar Pradesh government expects approximately 40 crore visitors, both domestic and international, to attend the event. According to the government estimates, Maha Kumbh may generate Rs 2 lakh crore in trade if each of 40…

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    • 13 January
      351

      Adani Group to invest Rs 60,000 crore in Chhattisgarh to enhance power generation

      The expansion will enhance Chhattisgarh’s total power generation capacity by an additional 6,120 MW New Delhi: The Adani Group has announced a planned investment of Rs 60,000 crore to expand the group’s power plants in Raipur, Korba, and Raigarh in Chhattisgarh. The Chief Minister’s Office on Sunday posted on X the details of the meeting and the planned investment. The CMO also posted pictures of the meeting. “In a meeting with the Honourable Chief Minister of Chhattisgarh, Shri Vishnu Deo Sai, Gautam Adani, Chairman of the Adani Group, announced a planned investment of Rs 60,000 crore to expand the group’s power plants in Raipur, Korba, and Raigarh,” the CMO’s post said. The expansion will enhance Chhattisgarh’s total power generation capacity by an additional 6,120…

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