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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

    • Nov- 2025 -
      7 November
      186

      Hinduja Group chairman Gopichand Hinduja passes away in London at 85

      Gopichand P. Hinduja, chairman of the global Hinduja Group and one of India’s most influential business figures, passed away in London at 85. Fondly called ‘GP’, he had been unwell for several weeks. He is survived by his wife and children New Delhi: Hinduja Group Chairman Gopichand P. Hinduja passed away in a London hospital on Tuesday. He was 85. Known as GP in business circles, he took over as Chairman of the Hinduja Group following the death of his elder brother Srichand in May 2023. He is survived by his wife, Sunita, sons Sanjay and Dheeraj, and daughter, Rita. The 2025 edition of the Sunday Times Rich List recently ranked Gopichand Hinduja’s family the richest in the UK with a…

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    • 7 November
      193

      Adani Enterprises Q2 net profit surges 84 per cent to Rs 3,199 crore

      Adani Enterprises Ltd reported an 84 per cent surge in Q2 net profit to Rs 3,199 crore, driven by strong performance across its infrastructure and energy businesses. The company also announced a Rs 25,000 crore rights issue to strengthen its balance sheet. Ahmedabad: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, on Tuesday reported robust results for the July-September quarter and the first six months of the current fiscal (FY26), clocking an impressive 84 per cent increase in Q2 net profit at Rs 3,199 crore. The AEL Board approved a partly paid-up rights issue of Rs 25,000 crore for strengthening its balance sheet further to support the next phase of incubation. Consolidated EBITDA stood at Rs 7,688 crore…

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    • 7 November
      244

      Gold prices fall as strong dollar, fading Fed rate cut hopes weigh on demand

      Gold prices slipped on Tuesday as a stronger US dollar and waning expectations of further Fed rate cuts prompted investors to book profits. Analysts cited easing US-China tensions and China’s new tax policy as added pressure on bullion demand New Delhi: The price of gold futures declined on Tuesday as investors booked profits, tracking gains from a stronger US dollar and lowered expectations for additional Federal Reserve rate cuts this year. The price of 10 grams of 24-carat gold was Rs 1,19,916 as of 12.30 pm, according to data published by the India Bullion and Jewellers Association (IBJA). December gold futures on the Multi Commodity Exchange (MCX) fell by Rs 836, or 0.69 per cent, to Rs 1,20,573 per 10 grams,…

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    • 7 November
      143

      Gold slips below USD 4,000 as dollar strengthens, trade tensions ease

      Gold prices dipped below USD 4,000 per ounce, falling 2.7 per cent from last week as easing US-China tensions and a stronger dollar weighed on demand. Despite the decline, gold remains over 50 per cent higher year-to-date, supported by central bank buying Mumbai: Spot gold prices slipped below the $4,000 per ounce after a significant increase this year, dipping 2.7 per cent from last week to $3,984.43 an ounce, data showed on Monday. The price of 10 grams of 24-carat gold was Rs 1,21,113 during the day trade, according to data published by the India Bullion and Jewellers Association (IBJA). Analysts said the moderation in demand came as trade tensions between the US and China cooled and the dollar index jumped…

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    • 6 November
      125

      ED seizes Anil Ambani-linked assets worth Rs 3,084 crore in PMLA probe

      The Enforcement Directorate has attached assets worth Rs 3,084 crore linked to Anil Ambani, his group companies, and related entities under the PMLA in a money laundering probe involving alleged diversion of public funds and loan irregularities exceeding Rs 17,000 crore New Delhi: The Enforcement Directorate (ED) has attached assets worth more than Rs 3,000 crore linked to Reliance Group Chairman Anil Ambani, his group companies, and linked entities as part of a money laundering investigation, official sources said on Monday. The federal probe agency issued four provisional orders under the Prevention of Money Laundering Act (PMLA) on October 31 for attaching the properties, including the 66-year-old Ambani’s family home in Pali Hill, Mumbai, apart from other residential and commercial properties…

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    • 6 November
      124

      Sensex, Nifty decline amid profit-taking, FII outflows

      Equity benchmarks Sensex and Nifty fell in early trade on Monday due to profit-taking and foreign fund outflows. Analysts said FIIs booking profits and reallocating to other markets capped gains despite strong October performance. Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Monday, amid profit-taking and foreign fund outflows. The 30-share BSE Sensex declined 261.39 points to 83,677.32 in early trade. The 50-share NSE Nifty dropped 62.9 points to 25,659.20. From the Sensex firms, Maruti, Bharat Electronics, Titan, Eternal, Bajaj Finance and Bajaj Finserv were the major laggards. However, Mahindra & Mahindra and State Bank of India were the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,769.34 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs…

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    • 6 November
      114

      Rupee falls 7 paise to 88.77 against US dollar in early trade

      The rupee weakened 7 paise to 88.77 against the dollar on Monday, pressured by rising crude oil prices, foreign fund outflows, and weak equities, even as the dollar eased. Forex reserves and fiscal data also signalled economic pressure. Mumbai: The rupee fell 7 paise to 88.77 against the dollar in early trade on Monday, weighed down by higher crude oil prices and continuous outflow of foreign capital amid uncertainties over global trade. According to forex traders, negative sentiment in domestic equities also pressured the Indian currency, even though a weak American currency provided some cushion at a lower level. At the interbank foreign exchange, the rupee opened at 88.73 and slipped further to trade at 88.77 against the greenback, down 7 paise from…

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    • 6 November
      127

      Microsoft to resume hiring with focus on AI after major layoffs, says Satya Nadella

      After multiple rounds of layoffs, Microsoft plans to grow its workforce again with a focus on artificial intelligence. CEO Satya Nadella said the company will pursue “targeted scaling,” using AI to enhance productivity and empower smaller team New Delhi: After a year of major layoffs, Microsoft is preparing to grow its workforce again — but this time with a clear focus on artificial intelligence (AI). Speaking on the BG2 podcast with investor Brad Gerstner, Microsoft CEO Satya Nadella said the company’s employee count will increase in a “smarter and more leveraged” way, driven by AI technology. “We will grow our headcount,” Nadella said, adding that future hiring will be shaped by how AI boosts productivity across the company. Microsoft had about…

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    • 5 November
      134

      98.37 per cent of Rs 2,000 notes returned to banks, says RBI

      According to RBI data, Rs 2,000 denomination banknotes worth Rs 5,817 crore remain in circulation. Since their withdrawal announcement in May 2023, 98.37 per cent of the notes have been returned. The Rs 2,000 notes continue to be legal tender, the RBI clarified. Mumbai: The high-value Rs 2,000 notes worth Rs 5,817 crore are still in circulation, according to the Reserve Bank data released on Saturday. The Reserve Bank of India (RBI) had announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023. Rs 2,000 banknotes continue to be legal tender. In a statement, the central bank said the total value of Rs 2,000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of…

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    • 5 November
      104

      GST collections rise 4.6 per cent in October to Rs 1.96 lakh crore amid festive buying

      Gross GST collection rose 4.6 per cent year-on-year to Rs 1.96 lakh crore in October, driven by festive season demand despite rate cuts on 375 items. Domestic GST revenue grew 2 per cent, while imports contributed a 13 per cent surge in tax inflow New Delhi: Gross GST collection increased 4.6 per cent to about Rs 1.96 lakh crore in October, driven by a festive buying spree despite a cut in GST rates. Goods and Services Tax (GST) rates on 375 items, including kitchen staples to electronics and automobiles, were slashed with effect from September 22– the first day of Navratri and considered auspicious for buying new goods. The October GST collection number reflects the impact of festive season sales and…

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