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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 -
      5 November
      111

      Gold prices dip Rs 1,649 amid Fed stance, US trade deal hopes

      Gold prices fell Rs 1,649 per 10 grams over the week to Rs 1,20,770, tracking global weakness after the US Fed hinted at a pause in rate cuts and markets eyed US trade pacts with China and India. Mumbai: The price of 24-carat gold (10 grams) dipped by Rs 1,649 on a weekly basis till Saturday, due to fading expectations of Federal Reserve rate cuts and hopes of US trade deals with India and China. The price of 10 grams of 24-carat gold dipped Rs 4 on a daily basis on Saturday to Rs 1,20,770, according to data published by the India Bullion and Jewellers Association (IBJA). The price move at the weekend was also due to weakness in international bullion…

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    • 5 November
      276

      GST 2.0 booster: UPI records 20.70 billion transactions worth Rs 27.28 lakh crore in October

      UPI transactions rose 25 per cent year-on-year in October to 20.70 billion, with total value reaching Rs 27.28 lakh crore, NPCI data showed. IMPS also saw steady growth, as India’s digital payment ecosystem expanded under ongoing GST 2.0 reforms. New Delhi: Amid the GST 2.0 reforms, the unified payments interface (UPI) witnessed 25 per cent transaction count growth (year-on-year) at 20.70 billion in the month of October — along with registering 16 per cent annual growth in transaction amount at Rs 27.28 lakh crore, the National Payments Corporation of India (NPCI) data showed on Saturday. Month-wise too, UPI witnessed a growth in transaction amount, from Rs 24.90 lakh crore in September. Average daily transaction amount in October stood at Rs 87,993 crore, a…

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    • 4 November
      124

      L&T signs pact with US firm to manufacture unmanned aircraft systems for Indian Army

      Larsen & Toubro (L&T) has signed a strategic pact with US-based General Atomics Aeronautical Systems (GA-ASI) to manufacture Medium Altitude Long Endurance unmanned aircraft systems in India, boosting defence self-reliance and strengthening Indo-US aerospace collaboration under the Ministry of Defence’s MALE RPAS programme New Delhi: Infrastructure major Larsen & Toubro (L&T) on Friday said that it has entered into a strategic pact with US-based Atomics Aeronautical Systems, Inc. (GA-ASI) for manufacturing unmanned aircraft systems for the Indian Army. Under the partnership, both the firms will together manufacture Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft Systems (RPAS) in India. L&T’s engineering, precision manufacturing and system integration capabilities in defence and aerospace and GA-ASI operational expertise will be utilised in this strategic…

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    • 4 November
      109

      Sensex, Nifty rebound on TCS, ITC gains amid mixed global cues

      Sensex and Nifty rebounded in early trade on Friday, supported by gains in TCS, ITC, and Maruti. Mixed global trends and foreign fund outflows kept investors cautious, while Brent crude eased and FIIs remained net sellers. Mumbai: Benchmark indices Sensex and Nifty bounced back in early trade on Friday amid buying in blue-chips Tata Consultancy Services and ITC. The 30-share BSE Sensex climbed 132.77 points to 84,537.23 in early trade. The 50-share NSE Nifty went up by 37 points to 25,914.85. From the Sensex firms, Maruti, Tata Consultancy Services, Bharat Electronics, Bajaj Finance, Titan and ITC were among the major gainers. However, NTPC, Kotak Mahindra Bank, Eternal and Tata Steel were among the major laggards. In Asian markets, South Korea’s Kospi and Japan’s…

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    • 4 November
      113

      Rupee recovers 5 paise to 88.64 against dollar amid softer crude, weaker greenback

      The rupee rose 5 paise to 88.64 against the US dollar in early trade on Friday, aided by lower crude prices and a weaker dollar. Persistent foreign fund outflows and equity market selling limited further gains in the domestic currency. Mumbai: The rupee showed some recovery and traded 5 paise higher at 88.64 against the dollar in early trade on Friday, tracking lower crude oil prices and weaker American currency. According to forex traders, the outflow of foreign funds amid selling pressure in the equity markets prevented a sharp gain in the domestic unit. At the interbank foreign exchange, the rupee opened at 88.60 rose slightly to 88.59 before trading at 88.64 against the greenback, up 5 paise from its previous close. On…

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    • 4 November
      476

      CoinSwitch Q3 Report: Gen Z takes lead in Crypto investing, Hyderabad stays resilient

      CoinSwitch’s Q3 2025 report highlights a generational shift in India’s crypto investment landscape, with Gen Z emerging as the largest investor group. Hyderabad maintains its rank as the fourth-largest crypto hub, with 70.4% of portfolios in profit, reflecting disciplined and fundamentals-driven investment strategies. Hyderabad: CoinSwitch, India’s largest crypto trading platform, released the Q3 2025 edition of its flagship report, India’s Crypto Portfolio: How India Invests. The report draws insights from over 2.5 crore users, mapping India’s evolving crypto investment behaviour, trading patterns, and demographic trends. The findings reveal that Gen Z (18–25) now leads India’s crypto investor base for the first time with 37.6%, narrowly surpassing Millennials (26–35) at 37.3% and Gen X (36-45) at 17.8%. Hyderabad retains its position as India’s fourth-largest crypto…

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    • 3 November
      150

      Adani Airports teams up with AIONOS for multilingual AI concierge across terminals

      Adani Airport Holdings Limited has partnered with AIONOS to deploy its Agentic AI platform, IntelliMate, across all Adani airports. The multilingual, omni-channel system will offer real-time, personalised passenger support through voice, chat, web, and mobile interfaces Ahmedabad: Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises Limited (AEL) and India’s largest private airport operator, on Thursday signed a strategic partnership with AIONOS, an InterGlobe Enterprises company and global leader in enterprise AI, to boost the passenger support experience across all Adani airports. Under this partnership, AIONOS will deploy its proprietary Agentic AI platform, IntelliMate, to power personalised, real-time interactions with travellers through voice, chat, web, and mobile. The collaboration aims to introduce a multi-lingual, omni-channel AI solution designed to transform the passenger…

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    • 3 November
      127

      Supreme Court: Insurance firms cannot deny accident claims due to route deviation

      The Supreme Court has ruled that insurance companies cannot deny accident compensation solely due to route deviations or permit violations. The court said such technicalities cannot override justice and upheld a Karnataka High Court order directing payment to the victim’s family New Delhi: The Supreme Court has ruled that insurance companies cannot deny compensation to accident victims solely because the vehicle’s route deviated and it was in violation of the permit. A bench comprising Justices Sanjay Karol and Prashant Kumar Mishra said the purpose of an insurance policy in the present context is to shield the owner/operator from direct liability when such an unforeseen/unfortunate incident takes place. “To deny the victim/dependents of the victim compensation simply because the accident took place…

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    • 3 November
      137

      Indian travellers can soon pay via UPI in Malaysia: Razorpay

      Razorpay, through its Malaysian arm Curlec, has partnered with NPCI International to enable UPI payments in Malaysia. The move, announced at the Global Fintech Fest 2025, will allow Indian travellers to pay local merchants seamlessly using UPI apps. Bengaluru: In a big step towards taking India’s digital payment innovation global, Razorpay on Thursday announced that Indian travellers will soon be able to make UPI payments in Malaysia. The move comes through Razorpay’s Malaysian entity, Curlec, in partnership with NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India. The collaboration, formalised at the Global Fintech Fest 2025, marks a major milestone in expanding UPI’s acceptance beyond Indian borders. With this integration, millions of Indian tourists visiting Malaysia will…

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    • 3 November
      131

      Sensex, Nifty decline as Fed’s cautious tone, FII selling weigh on markets Strap (Print)

      Benchmark indices fell in early trade as weak global cues, foreign fund outflows, and uncertainty over US Fed rate cuts hit investor sentiment. The Sensex dropped 298 points and Nifty 90 points, while Asian markets traded mixed. Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Thursday as fresh foreign fund outflows and no clarity on the future course of rate action by the US Federal Reserve dampened investors’ sentiment. The 30-share BSE Sensex declined 297.96 points to 84,699.17 in early trade. The 50-share NSE Nifty dropped 90.05 points to 25,963.85. From the Sensex firms, Sun Pharma, Bharti Airtel, Power Grid, ITC, Tata Steel and Asian Paints were among the major laggards. However, Larsen & Toubro, Eternal, Adani Ports and Maruti…

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