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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

    • Oct- 2025 -
      28 October
      205

      US eager to finalise trade deal with South Korea ahead of Trump-Lee summit

      The US is keen to finalise a trade deal with South Korea once Seoul accepts “appropriate” commitments, a senior official said. The two nations are negotiating terms of a $350 billion investment pledge ahead of the Trump-Lee summit in Korea. Washington: The United States is keen to “nail down” a trade deal with South Korea as soon as Seoul is willing to take “appropriate” commitments, a senior U.S. official said, as the two countries strive to bridge differences over how to implement Korea’s $350 billion investment pledge under the framework deal. The official made the remarks during an online press briefing amid uncertainty over whether Seoul and Washington could reach a breakthrough to finalise details of the trade deal before or…

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    • 28 October
      249

      Michezo Sports raises VC funding to boost India’s sports infrastructure

      Michezo Sports has closed a funding round led by Centre Court Capital with participation from Rainmatter. The investment marks the formal entry of venture capital into India’s largely unorganised sports infrastructure industry. Hyderabad: Michezo Sports, an early leader in India’s sports infrastructure sector, has announced the closing of an investment round by Centre Court Capital, a VC fund focused on Sports and Gaming, as its lead investor. The funding round also saw participation from Rainmatter, Zerodha’s investment arm. The investment marks the formal entry of venture capital into India’s largely unorganised sports infrastructure sector, signalling growing investor confidence in the country’s aspiration to host international sports events, such as the 2036 Olympics, a press release said. “Michezo was founded with the…

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    • 28 October
      241

      Reliance to comply with US sanctions; to recalibrate Russian oil imports

      Reliance Industries said it will comply with all applicable sanctions and recalibrate its refinery operations after the US imposed fresh restrictions on Russian oil majors Rosneft and Lukoil. The company said it is assessing the impact on its long-term crude supply deals New Delhi: Reliance Industries Ltd, India’s largest buyer of Russian oil and most impacted by the latest US sanctions, on Friday said it will comply with all applicable restrictions and will adjust its refinery operations to meet compliance requirements. In a statement, a company spokesperson said Reliance is “currently assessing the implications” of the latest sanctions on two Russian oil giants – one of which has a long-term crude oil supply agreement with Reliance. “We have noted the recent restrictions announced…

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    • 27 October
      181

      Stock markets decline in early trade amid profit-taking, fresh foreign fund outflows

      Mumbai markets opened lower on Friday as Sensex fell 153 points and Nifty dropped 51 amid profit booking and FII outflows. Despite recent highs, Hindustan Unilever and Kotak Bank declined, while ICICI Bank and Tata Steel gained; Asian markets traded higher Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Friday amid profit-taking after almost a week-long rally and fresh foreign fund outflows. The 30-share BSE Sensex dropped 153.18 points to 84,403.22 in early trade. The 50-share NSE Nifty dipped 51.1 points to 25,840.30. Both the benchmark indices hit their 52-week highs on Thursday. From the Sensex firms, Hindustan Unilever, Kotak Mahindra Bank, Axis Bank, Power Grid, Eternal and Adani Ports were among the major laggards. However, Bharat Electronics, ICICI…

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    • 27 October
      138

      India Tops Global Malware Infection Chart, Ranks 8th in Cyber Threat Exposure: Microsoft Report

      India has emerged as the top target for Lumma Stealer malware, with over 44,000 infected Windows devices between March and May 2025, according to Microsoft’s Digital Defense Report. The country ranks eighth globally in overall cyber threat exposure, facing rising identity-based attacks and infiltration by North Korean IT operatives. Hyderabad: India has emerged as the most affected country by a prolific malware strain while ranking eighth globally in overall cyber threat exposure, according to Microsoft‘s Digital Defense Report 2025 released on Thursday. The comprehensive report, which analyzes over 100 trillion daily security signals from across the globe, reveals that India recorded 44,197 Windows devices infected by Lumma Stealer malware between March 16 and May 16, 2025, the highest number worldwide. This placed India ahead…

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    • 27 October
      114

      UPI hits record Rs 1.02 lakh crore in single-day payments as GST cuts fuel Diwali demand

      The Unified Payments Interface (UPI) recorded its highest-ever single-day value of Rs 1.02 lakh crore on October 18, buoyed by strong festive demand and GST rate cuts that boosted consumer spending. Retail sales also surged to an unprecedented Rs 6.05 lakh crore New Delhi: Finance Minister Nirmala Sitharaman highlighted on Thursday that the Unified Payments Interface (UPI) platform processed 754 million payments worth Rs 1.02 lakh crore on October 18, marking the highest single-day tally, as consumer demand surged due to the GST rate cuts. During the three days between Dhanteras and Diwali, the average UPI volumes stood at 736.9 million — higher than 647.46 million in the corresponding period a month ago, the Finance Minister said. “It has been a…

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    • 27 October
      299

      Piyush Goyal hails SBI for winning two top Global Finance awards

      State Bank of India has been named World’s Best Consumer Bank 2025 and Best Bank in India 2025 by Global Finance, New York. Commerce Minister Piyush Goyal lauded SBI’s role in driving financial inclusion and strengthening India’s growth story New Delhi: State Bank of India (SBI), the largest public sector lender in the country, on Thursday said it has received two prestigious awards — World’s Best Consumer Bank 2025 and Best Bank in India 2025 — from New York-based Global Finance, a feat hailed by Commerce and Industry Minister Piyush Goyal. In an X post, Goyal said he is proud to see “our very own State Bank of India honoured with two prestigious titles by Global Finance, New York, at the…

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    • 27 October
      118

      Apple records highest-ever iPhone shipments to India, driven by iPhone 17 series

      Apple shipped 4.9 million iPhones to India in Q3 CY25, a 47% YoY increase, driven by the iPhone 17 series and festive demand. India accounted for 9% of global shipments, while exports surged 75% to $10 billion. New Delhi: Riding high on the success of its new iPhone 17 series and festive season demand, Apple Inc recorded its highest-ever quarterly shipments to India, sending 4.9 million smartphones to the country during the July–September quarter of 2025 (Q3 CY25), according to industry estimates. According to research firm Omdia, this marks a 47 per cent year-on-year (YoY) growth and represents Apple’s strongest performance in the Indian market to date. What’s more, India accounted for 9 per cent of Apple’s total global iPhone shipments in the…

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    • 26 October
      130

      Sensex, Nifty Surge on US-India trade optimism; IT stocks lead gains

      Sensex and Nifty surged in early trade on US-India trade optimism, boosted by IT stock gains, fresh foreign fund inflows, and festive season buying. Brent crude rose, while FIIs purchased equities worth Rs 96.72 crore on Tuesday. Mumbai: Equity benchmark indices Sensex and Nifty surged in early trade on Thursday amid growing optimism on the US-India trade deal front. Fresh foreign fund inflows and buying in IT stocks also drove the markets higher during the initial trade. The 30-share BSE Sensex jumped 734.36 points to 85,160.70 in early trade. The 50-share NSE Nifty surged 198.3 points to 26,066.90. From the Sensex firms, Infosys, HCL Tech, Tech Mahindra, Axis Bank, Hindustan Unilever and Kotak Mahindra Bank were among the gainers. However, Eternal and Bajaj…

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    • 26 October
      125

      Rupee strengthens 13 paise to 87.80 on US-India trade optimism

      The rupee strengthened 13 paise to 87.80 against the US dollar amid US-India trade optimism. Gains were supported by foreign inflows, domestic equity rally, and risk-on sentiment, as markets await updates on tariffs and oil import adjustments. Mumbai: The rupee appreciated 13 paise to 87.80 against the US dollar in early trade on Thursday, supported by optimism on the US-India trade deal front. Forex traders said foreign fund inflows, a positive trend in domestic equities and risk-on sentiments boosted investor sentiments. At the interbank foreign exchange market, the rupee opened at 87.80 against the US dollar, registering a gain of 13 paise from its previous close. On Monday, the rupee had settled 9 paise higher at 87.93 against the greenback. Foreign exchange markets…

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