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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 -
      9 January
      288

      Adani Ports features among S&P’s global list of top 10 transportation, infra companies

      For the second consecutive year, APSEZ secures top spot in the Environment dimension Ahmedabad: Adani Ports and Special Economic Zone Ltd. (APSEZ) on Wednesday said it has been ranked among the top 10 global transportation and transportation infrastructure companies in the 2024 S&P Global Corporate Sustainability Assessment (CSA). With a score of 68 (out of 100) – a three-point improvement over last year, APSEZ is now placed in the 97th percentile within the sector, improving from the 96th percentile in 2023, the Adani Group company said in a statement. “We firmly believe responsible business practices drive innovation and long-term success. The latest recognition only reflects our commitment to sustainability and corporate responsibility,” said Ashwini Gupta, Whole-Time Director and CEO of APSEZ. “Our team’s…

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    • 9 January
      207

      Now, make part payment for international flight bookings on MakeMyTrip

      The remaining balance must be paid either before the travel date or within 45 days of booking, whichever comes first, at no additional cost New Delhi: Travel booking platform MakeMyTrip on Wednesday announced it has introduced a part payment option for travellers to get a confirmed booking on international flights by paying between 10 to 40 per cent of the total fare upfront. The exact percentage of the upfront payment will be determined by factors such as the airline, travel sector, and the advance purchase window. The remaining balance must be paid either before the travel date or within 45 days of booking, whichever comes first, at no additional cost. “This industry-first feature addresses a common pain point for travellers, particularly larger families…

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    • 8 January
      263

      MobiKwik posts Rs 3.6 crore loss in Q2 on higher investment

      This is the first quarterly announcement after One MobiKwik Systems Ltd got listed on the bourses in December, 2024 New Delhi: Digital wallet provider MobiKwik, listed last month, on Tuesday reported a loss of Rs 3.59 crore during the second quarter ended September 2024 as against Rs 6 crore standalone profit recorded in the same quarter a year ago. This is the first quarterly announcement after One MobiKwik Systems Ltd got listed on the bourses at a huge premium of 57.7 per cent per share compared to its allotment price. During the reporting quarter, total income of the company increased to Rs 294 crore as against Rs 207 crore at the end of September 2023, One MobiKwik Systems Ltd said in…

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    • 8 January
      248

      India’s GDP growth rate on a downward slope, to slip to four-year low of 6.4% in 2024-25

      The first advance estimates of National Income for 2024-25 released by the National Statistics Office is lower than the 6.6 per cent projected by the RBI in December 2024 New Delhi: India’s economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, mainly on account of poor showing by the manufacturing and services sector, according to government data released on Tuesday. The gross domestic product (GDP) rate of 6.4 per cent will be the lowest since the Covid year (2020-21) when the country witnessed a negative growth of 5.8 per cent. It was 9.7 per cent in 2021-22; 7 per cent in 2022-23; and 8.2 per cent in the last fiscal ended March 2024.…

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    • 8 January
      237

      Infrastructure biggie L&T wins large orders in India, abroad

      Secures order to implement an advanced distribution management system in West Bengal and a key substation in Saudi Arabia New Delhi: Infrastructure major Larsen & Toubro (L&T) on Tuesday said its power transmission and distribution vertical has bagged large orders in the domestic and international market. As per L&T’s classification, orders in the range of Rs 2,500 crore to Rs 5,000 crore are considered as ‘large’. The company won an order to implement an advanced distribution management system in West Bengal, L&T said in a filing to BSE. The company has secured an order for a key substation in Saudi Arabia, designed to facilitate the evacuation of solar generation. Additionally, in a major project in Kuwait, the company has won a…

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    • 8 January
      262

      BMW India on top gear: Clocks best-ever sales at 15,721 units in 2024

      The company crosses 3,000 EV deliveries till date, becoming the first luxury car manufacturer in the country to reach the milestone New Delhi: Amid rising disposable incomes in an aspirational country, luxury car-maker BMW Group India on Tuesday said it achieved its best-ever annual car deliveries last year at 15,721 units with 11 per cent growth. BMW Group India also crossed 3,000 EV deliveries till date, becoming the first luxury car manufacturer in the country to reach this milestone. The company delivered 15,721 cars (BMW and MINI) and 8,301 motorcycles (BMW Motorrad) between January-December 2024.BMW sold 15,012 units and MINI 709 units, the company said in a statement. In the October-December period last year, the automaker sold 4,958 units, clocking 15…

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    • 8 January
      265

      Tata Motors to bring back iconic ‘Sumo’ in 2025?

      Car enthusiasts, even today, are eager to get their hands on one of these machines—better still if they can park one in their garages. Hyderabad: One cannot simply list the best discontinued Indian SUVs without featuring the iconic Tata Sumo! Such has been the craze surrounding this legendary vehicle. The Sumo, an epitome of ruggedness and versatility, redefined the Indian car market in many ways. Its robust stance, majestic road presence, and never-say-die character enabled owners to clock hundreds of thousands of kilometers on Indian roads in the late ’90s and early 2000s. This legacy has earned the Sumo a prominent place in automotive history. Car enthusiasts, even today, are eager to get their hands on one of these machines—better still…

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    • 7 January
      293

      Trump Jr to visit World’s largest island, Greenland, ‘for a quick daylong trip’

      Trump says that making Greenland a part of the United States is an absolute necessity Washington: US President-elect Donald Trump on Monday said that his son, Donald J Trump Jr, would be travelling to Greenland, which he wants to make as an American territory. World’s largest island, Greenland, is an autonomous territory of the Kingdom of Denmark. Soon after his electoral victory, Trump, 78, has been saying that he wants Greenland to become part of the United States. “I am hearing that the people of Greenland are “MAGA.” My son, Don Jr, and various representatives will be travelling there to visit some of the most magnificent areas and sights. Greenland is an incredible place, and the people will benefit tremendously if, and when, it…

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    • 7 January
      322

      Former CEO Jagdeep Singh not the highest paid in world, clarifies QuantumScape

      QuantumScape refutes former CEO Jagdeep Singh’s ‘astronomical’ salary, says there is no evidence or factual basis for this claim Hyderabad: A day after QuantumScape’s former CEO Jagdeep Singh’s ‘astronomical’ salary went viral, the company on Monday issued a clarification on the salary package stating “there is no evidence or factual basis for this claim”. QuantumScape is a US-based company specialising in advanced battery technology, particularly for electric vehicles (EVs). According to the company, On February 8, 2024, the board accepted Singh’s request to transition from his role as CEO effective February 15, 2024, and also confirmed that he will be continuing in his capacity as the Chairman of the Board. “When QuantumScape announced that Jagdeep was stepping down as CEO almost a year…

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    • 7 January
      247

      Infosys defers annual salary hike

      Delay indicates that domestic IT sector is still facing uncertainties New Delhi: IT major Infosys has reportedly deferred the annual salary hike in the fourth quarter of FY 2024-25. The company last implemented a salary hike in November 2023. The delay in the salary hike, which is usually implemented at the beginning of the year, indicates that the domestic IT sector is still facing uncertainties. The reason cited for slowdown is that clients are not increasing their IT spending due to macro-economic situations, including potential tariffs under the new Donald Trump administration that will begin working from January 20. Not only Infosys but some other large IT companies like HCL Tech, LTI Mindtree and L&T Tech Services also did not increase salaries in the second quarter this year to manage costs and profits. Regarding Infosys, Motilal Oswal Financial Services…

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