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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 -
      13 January
      366

      My wife loves staring at me on Sundays: Adar Poonawalla takes a dig at L&T Chairman

      The Serum Institute of India CEO’s comments follow recent Mahindra Group Chairman Anand Mahindra’s remarks saying that it’s not about working 48, 70, or 90 hours a week but rather the output produced New Delhi: Continuing the ongoing debate on the work-hour balance, Serum Institute of India (SII) CEO Adar Poonawalla on Sunday said that quality of work is always more important than quantity. The debate was first ignited by Infosys founder Narayana Murthy and more recently triggered by Larsen & Toubro (L&T) Chairman SN Subrahmanyan. While Murthy has been advocating 70 hours a week, Subrahmanyan suggested employees work 90-hour per week, even on Sundays, to remain competitive. “Quality of work over quantity always. #worklifebalance,” Poonawalla said in a post on X.…

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    • 13 January
      377

      2025-26 Telangana Budget consultations to start after Sankranti

      Consultations aim to align allocations with Congress government’s welfare and development priorities while addressing fiscal constraints Hyderabad: With just a few weeks left for the 2025-26 Budget presentation, the Telangana government has expedited the process to formulate the State Budget estimates. Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka is set to commence department-wise meetings along with the Ministers concerned next week to finalise the proposals submitted by various departments. The Budget proposals for 2025-26 and revised estimates for 2024-25 have already been uploaded to the Finance Department’s online portal, following directives issued earlier this month. The consultations, slated to start after Sankranti, aim to align allocations with the Congress government’s welfare and development priorities while addressing fiscal constraints. The Budget proposals will be refined…

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    • 12 January
      228

      Just Dial Q3 profit comes in at Rs 131 crore, up 43%

      The company had a net profit of Rs 92.01 crore in the October-December period a year ago New Delhi: Just Dial Ltd, a local search engine, has reported 42.7 per cent increase in consolidated net profit at Rs 131.31 crore for December quarter FY25. It had a net profit of Rs 92.01 crore in the October-December period a year ago, according to a regulatory filing from Just Dial, now controlled by Reliance Retail Ventures Ltd. Revenue from operation was up 8.4 per cent at Rs 287.33 crore in the December quarter.The company “achieved its highest-ever quarterly revenue in Q3 FY25, further solidifying its position as a leader in the digital services,” said Just Dial in its earning statement. Total expenses were…

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    • 12 January
      216

      No further tweaks to derivatives segment, says Sebi Wholetime Member Ananth Narayan

      Sebi not mulling any steps on “suitability and appropriability”, which will determine who can trade in the derivatives market Mumbai: The capital markets regulator is not planning any more measures to curb or restrict activity in derivatives, Sebi’s Wholetime Member Ananth Narayan said on Saturday. An expert group under former RBI executive director G Padmanabhan continues to work on bettering the system, and some moves on ease of doing business and better risk management are being mulled, he added. “At this point in time, there is no thought of Sebi taking any further steps in this particular regard,” Narayan said, addressing an event organised by Sebi-promoted NISM here. He also made it clear that the Sebi is not mulling any steps…

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    • 12 January
      271

      Rewind: Promises of River-Linking, and perils

      With a thoughtful and integrated approach, India can transform its rivers into a network of prosperity but caution must remain the watchword The idea of interlinking rivers, often discussed in modern engineering and environmental discourse, finds its origins deeply embedded in Indian mythology and the Vedas. The matted locking of Lord Shiva is believed to have controlled the Ganga to protect lifeforms. Similarly, the tale of the sage Agastya drinking the ocean to control floods reflects an early understanding of managing water overflow. The practice of undertaking pilgrimages to river confluences, such as the Kumbh Mela and Chhath Puja, highlights the spiritual importance of rivers. Starting with Indus Valley The Indus Valley Civilisation (2600–1900 BCE), one of the world’s earliest urban cultures,…

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    • 12 January
      254

      I love staring at my wife, Anand Mahindra responds to 90-hr work week debate

      My wife is wonderful. I love staring at her. I spend more time. I’m not here to make friends. I’m here because people don’t understand it is an amazing business tool, how in one platform I get feedback from 11 million people…” New Delhi: Focus on the quality of work and not on the quantity, as one can change the world in 10 hours, Mahindra Group Chairman Anand Mahindra said on Saturday, joining the debate on a 90-hour work week. Speaking at the National Youth Festival in the national capital, Mahindra asserted that he is on social media not because he is lonely and quipped, “My wife is wonderful. I love staring at her”. Larsen & Toubro (L&T) Chairman SN…

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    • 12 January
      257

      Concept of work hours for Young India not right: Startup founders

      Hard work is very important but the definition of hard and definition of work are different things to different people, says entrepreneur Ronnie Screwvala New Delhi: As the controversy raged over L&T Chairman SN Subrahmanyan’s suggestion to employees to work 90 hours a week, leading startup founders and investors on Saturday said that young India doesn’t want to be told what to do and we should respect them. It does not mean that they are working less because young Indians get “switched on in different ways”. “I think we all know that you need to be a rounded person, otherwise you can’t perform. So hard work is very important but the definition of hard and definition of work are different things…

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    • 11 January
      274

      Market opens flat on Friday, TCS up nearly 4% on strong result

      Sensex was trading at 77,442.68 after dropping 177.53 points, while Nifty was at 23,458 after declining 68.50 points in early trade Mumbai: The Indian stock market opened flat on Friday as buying was seen in the IT sector after strong Q3 results of Tata Consultancy Services (TCS), which saw its stock jumping 3.7 per cent at Rs 4,186 apiece in early trade. The IT sector was trading with a gain of more than 2 per cent. At around 9.34 am, Sensex was trading at 77,442.68 after dropping 177.53 points or 0.23 per cent, while Nifty was trading at 23,458 after declining 68.50 points or 0.29 per cent. On the National Stock Exchange (NSE), 656 stocks were trading in green, while 1,477…

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    • 11 January
      250

      Meet Maya, Leah who joined Sir Ratan Tata Industrial Institute’s board

      The daughters of Noel Tata, chairman of Tata Trusts, replaced Arnaz Kotwal and Freddy Talati Hyderabad: Noel Tata’s daughters, Maya and Leah, were on Thursday inducted on the board of trustees of the Sir Ratan Tata Industrial Institute (SRTII), a unit of Sir Ratan Tata Trust. Maya and Leah Tata have replaced Arnaz Kotwal and Freddy Talati who resigned from the board. While this is seen as a move to infuse young blood, it also riled the elders’ at SRTI, according to media report. An upset Kotwal, who is now in Dubai, wrote a dissent note to fellow trustees as per media reports. “… was very saddened that none of you reached out to speak with me directly about this matter…

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    • 11 January
      246

      Adani Wilmar stock tumbles nearly 10% in early Friday trade

      Adani Group will raise Rs 7,148 crore from the sale of up to 20 per cent stake in the FMCG firm New Delhi: Shares of Adani Wilmar tumbled nearly 10 per cent on Friday morning following news that the Adani Group will raise Rs 7,148 crore from the sale of up to 20 per cent stake in the FMCG firm in the open market as part of its strategy to exit non-core activities to focus on infrastructure business. The stock tanked 9.84 per cent to Rs 292.05 on the BSE. At the NSE, it dropped 9.69 per cent to Rs 292.10. It later recovered and was trading at Rs 296.95, down 8.33% at 12:19 pm on the BSE The conglomerate, which last month announced…

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