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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 -
      2 November
      127

      Rupee slips 21 paise to 88.43 against dollar as Fed signals no December rate cut

      The rupee fell 21 paise to 88.43 against the US dollar on Thursday amid a stronger greenback after Fed Chair Jerome Powell said a December rate cut is not certain. Weak equities and FII outflows added to the pressure. Mumbai: The rupee depreciated 21 paise to 88.43 against the dollar in early trade on Thursday, weighed down by the strength of the American currency after Fed Chairman Jerome Powell indicated that the rate cut in December is not given. Forex traders said the dollar index rose to 99.05 and the 10-year yield to 4.07 per cent despite the 25 bps rate cut by the FED overnight. At the interbank foreign exchange, the rupee opened at 88.37 against the US dollar before dropping to…

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    • 2 November
      118

      Gold, silver prices slip on MCX after Fed’s 25 bps rate cut

      Gold and silver prices tumbled on MCX after the US Fed’s 25 bps rate cut, with gold down 1.51% and silver 0.97%. Caution over future rate cuts and easing safe-haven demand weighed on prices. Mumbai: Gold and silver prices opened sharply lower on Thursday on the Multi Commodity Exchange (MCX) after the US Federal Reserve announced a 25-basis points rate cut. The decline in precious metal prices came as investors assessed the Fed’s cautious stance on future rate cuts. Gold futures on the MCX opened 1.27 per cent lower at Rs 1,19,125 per 10 grams, compared to the previous close of Rs 1,20,666. Silver prices also dropped, opening 0.4 per cent lower at Rs 1,45,498 per kilogram, against the previous close…

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    • 2 November
      111

      Central Bank of India CEO Kalyan Kumar highlights loan rebalancing at Hyderabad townhall

      Central Bank of India MD and CEO Kalyan Kumar addressed staff in Hyderabad, urging a strategic shift in the bank’s loan portfolio from retail and MSME sectors towards corporate lending. He highlighted the impact of repo-linked loans on net interest margins, which have declined over the past year. Hyderabad: The MD and CEO of the Central Bank of India Kalyan Kumar interacted with the bank staff in Hyderabad in a townhall meeting on Wednesday. During his address to the staff, Kalyan Kumar exhorted the staff to rebalance the bank’s loan portfolio, which is currently focussed on retail, agriculture and MSME (RAM) advances, by stepping up corporate lending. The present loan composition with about 60 percent of loans are linked to the…

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    • 2 November
      114

      SBI Mutual Fund invests Rs 100 cr in Lenskart in pre-IPO round

      SBI Mutual Fund has invested Rs 100 crore in Lenskart ahead of its Rs 7,278-crore IPO opening October 31. The pre-IPO deal slightly reduces promoter Neha Bansal’s stake, adding to recent investments as the eyewear firm prepares for a November 10 market debut New Delhi: SBI Mutual Fund has invested Rs 100 crore in eyewear retailer Lenskart Solutions in a pre-IPO (initial public offering) funding round. As part of the transaction, Neha Bansal, one of the promoters, transferred 24.87 lakh equity shares at Rs 402 apiece to SBI Optimal Equity Fund (AIF) and SBI Emergent Fund AIF, Lenskart said in a public announcement on Wednesday. After the transaction, Bansal’s stake in the eyewear firm would come down to 7.46 per cent…

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    • 2 November
      378

      SEBI plans big overhaul in mutual fund rules to cut costs and boost transparency

      SEBI has proposed significant reforms to mutual fund cost structures, including steep caps on brokerage fees, clearer TER disclosures separating taxes, optional performance-linked fees, and shifting NFO expenses to AMCs, aiming to boost transparency and investor benefits Mumbai: The Securities and Exchange Board of India (SEBI) has proposed major changes to the way mutual funds are managed in the country. The market regulator aims to lower brokerage costs, make fee disclosures clearer, and simplify how investors are charged. In a new consultation paper reviewing the 1996 Mutual Fund Regulations, SEBI has suggested tightening the cost structures for Asset Management Companies (AMCs) so that more benefits reach investors directly. One of the biggest proposals is a sharp cut in brokerage and transaction costs…

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    • 1 November
      108

      Rupee trades in narrow range against dollar amid month-end demand

      The rupee traded in a narrow range against the US dollar on Wednesday as support from firm domestic equities was offset by month-end demand. Traders said RBI interventions and global central bank meetings kept the currency’s movement range-bound. Mumbai: The rupee traded in a narrow range against the US dollar in early trade on Wednesday, as the support from positive domestic equities was negated by month-end dollar demand. Forex traders said the main factors influencing the rupee are geopolitical developments. Moreover, the Reserve Bank of India has also been intervening on both the buy and sell sides to keep the rupee within a range of 87.50 to 88.50, they said. At the interbank foreign exchange market, the rupee opened at 88.21,…

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    • 1 November
      121

      Stock markets rebound in early trade on US Fed rate cut hopes, fresh foreign fund inflows

      Sensex and Nifty rebounded in early trade, tracking global gains and expectations of a US Federal Reserve rate cut. Strong foreign fund inflows boosted market sentiment, with major Asian indices trading higher, though select domestic stocks lagged amid ongoing volatility Mumbai:  Stock market benchmark indices Sensex and Nifty bounced back in early trade on Wednesday, tracking a rally in global peers, amid hopes of a rate cut by the US Federal Reserve and fresh foreign fund inflows. The 30-share BSE Sensex climbed 287.94 points to 84,916.10 in early trade. The 50-share NSE Nifty went up by 86.65 points to 26,022.85. From the Sensex firms, Asian Paints, Tata Steel, Trent, Larsen & Toubro, State Bank of India and Adani Ports were among…

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    • 1 November
      150

      Opinion: BRICS’ quiet challenge to the dollar

      BRICS nations’ push to trade in local currencies reflects frustration with dollar dominance and signals a shift in the global monetary order By Dr Jadhav Chakradhar, Prof  Mini Thomas P As geopolitical tensions rise, substantial changes are quietly reshaping the world’s monetary system. A classic example is the US imposing high tariffs on several Indian products in August because of India’s oil trade with Russia. Developments like this show how politics and trade are now intricately linked, slowly changing how global finance works. For decades, the US dollar has reigned supreme as the world’s reserve currency, facilitating seamless international trade and payments. However, the BRICS bloc — Brazil, Russia, India, China, and South Africa — , which has now expanded to include…

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    • Oct- 2025 -
      31 October
      201

      Jio registers strong growth in Telangana and Andhra Pradesh

      Reliance Jio has emerged as the leading telecom operator in the AP Telecom circle, which includes Telangana and Andhra Pradesh, by adding the highest number of wireline and wireless subscribers in September 2025. Jio’s growth was fuelled by strong demand for broadband and mobile services, especially in smaller towns. Hyderabad: Reliance Jio has further consolidated its dominance in AP Telecom circle comprising Telangana and Andhra Pradesh states by posting robust growth in both wireless and wireline segments in September 2025. In the wireline subscriber base, Jio added 40,641 new users, increasing its count from 17.87 lakh in August to 18.28 lakh in September 2025, the highest among all operators. This surge reflects sustained demand for JioFiber broadband and enterprise connectivity solutions, particularly…

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    • 31 October
      292

      Gold tumbles Rs 4,100 in India, slips below USD 4,000 mark globally

      Gold prices fell sharply by Rs 4,100 to Rs 1,21,800 per 10 grams in Delhi, slipping below the USD 4,000 mark globally as easing US-China tensions and ETF outflows reduced safe-haven demand. Silver also tumbled Rs 6,250 per kg New Delhi: Gold prices dropped by Rs 4,100 to Rs 1,21,800 per 10 grams in the national capital and slipped below USD 4,000 an ounce in the global markets on Tuesday as easing US-China trade tensions dampened safe-haven appeal. According to the All India Sarafa Association, the precious metal had closed at Rs 1,25,900 per 10 grams on Monday. In the local bullion market, gold of 99.5 per cent purity also tumbled by Rs 4,100 to Rs 1,21,200 per 10 grams (inclusive…

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