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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 -
      20 October
      209

      Opinion: Sustaining growth, by design — What the 2025 Nobel in Economics teaches India

      The Nobel-winning work of Mokyr, Aghion and Howitt carries a warning for India — unchecked monopoly power, restricted inquiry, or rising inequality could bring back stagnation By Dr Sushanta Kumar Mahapatra, Dr Madan Meher The 2025 SverigesRiksbank Prize in Economic Sciences has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt “for having explained innovation-driven economic growth.” Mokyr is recognised “for identifying the prerequisites for sustained growth through technological progress,” while Aghion and Howitt share the other half “for the theory of sustained growth through creative destruction.” Their work shows how innovation, supported by institutions, transforms stagnation into self-perpetuating growth. But progress is neither automatic nor costless: it requires knowledge accumulation, capable implementers, social acceptance of disruption, and policies…

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    • 20 October
      119

      Wipro Q2 net profit rises marginally to Rs 3,246 crore; revenue grows 1.7 per cent

      Wipro reported a marginal 1.2 per cent rise in Q2 net profit to Rs 3,246.2 crore, with revenue up 1.7 per cent to Rs 22,697.3 crore. CEO Srini Pallia emphasized strengthening growth in Europe and APMEA and scaling operations with AI-led strategies New Delhi: IT services firm Wipro on Thursday reported a marginal increase in consolidated net profit to Rs 3,246.2 crore in the July-September quarter. The Bengaluru-headquartered firm had reported a profit (attributable to equity holders of the company) of Rs 3,208.8 crore in the year-ago period, according to a regulatory filing. Revenue from operations for the quarter under review rose by 1.7 per cent to Rs 22,697.3 crore compared to the same period of the last year. Sequentially, profit…

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    • 20 October
      120

      Infosys Q2 net profit rises 13 per cent to Rs 7,364 crore

      Infosys reported a 13.2 per cent rise in Q2 net profit to Rs 7,364 crore, with revenue up 8.6 per cent. The IT firm raised its FY26 growth outlook, declared an interim dividend of Rs 23 per share, and added over 8,000 employees New Delhi: IT company Infosys on Thursday posted 13.2 per cent increase in consolidated net profit at Rs 7,364 crore for the second quarter ended September 30, 2025. The company had logged a net profit of Rs 6,506 crore in the same period a year ago. Revenue from operations grew 8.6 per cent to Rs 44,490 crore during the quarter from Rs 40,986 crore a year ago. The company increased the lower base of the growth outlook for…

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    • 19 October
      112

      Gold’s 2025 rally among steepest since 1970s, led by Asia

      Gold prices have surged over 50 per cent in 2025, hitting USD 4,000, driven by Asian demand, central bank purchases, and safe-haven buying. Slower mine output and strong domestic imports in India and China are fueling the steepest rally since the 1970s New Delhi: The surge in gold prices in 2025 ranks among the steepest since the 1970s, rivalling the bull runs of 1979–80, 2010–11, and 2020. However, unlike earlier cycles driven by Western crises, this rally is Asia-led, underpinned by reserve diversification and official-sector demand, data from a report showed on Thursday. Gold’s dazzling rally this year has captivated global markets — a rare and spectacular ascent that has seen prices surge over 50 per cent year-to-date, breaching $4,000 on…

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    • 19 October
      137

      Russia says its energy partnership with India aligns with New Delhi’s national interests

      Russian Ambassador Denis Alipov said Moscow’s energy partnership with India aligns with New Delhi’s national interests, describing Russian crude as the most cost-effective option globally. His remarks came after US President Donald Trump claimed Modi assured him of reduced oil imports New Delhi: Russian crude oil remains the most cost-effective option on the global market, and Russia’s energy ties with India are in tune with New Delhi’s national interests, Russian ambassador Denis Alipov said on Thursday. Alipov’s remarks came hours after US President Donald Trump claimed that Prime Minister Narendra Modi assured him that New Delhi will stop procuring Russian crude oil. “Russian energy remains the most cost-effective option on the global market, and Russia has consistently honoured its commitments while…

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    • 19 October
      107

      Stock markets surge in early trade tracking rally in global peers

      Sensex and Nifty surged in early trade amid global market rallies and US Fed rate cut hopes. Fresh foreign fund inflows and strong Q2 earnings from Axis Bank boosted sentiment. Asian markets traded higher; trade talks with the US continue Mumbai: Equity benchmark indices Sensex and Nifty surged in early trade on Thursday, tracking a rally in global markets amid US Fed rate cut hopes. Fresh foreign fund inflows also added to the markets’ optimism during the initial trade. The 30-share BSE Sensex jumped 407.67 points to 83,013.10 in early trade. The 50-share NSE Nifty surged 104 points to 25,427.55. From the Sensex firms, Axis Bank climbed 3 per cent, a day after announcing its September quarter earnings. Adani Ports, Titan, Eternal,…

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    • 19 October
      128

      Jio launches Rs 799 safety-first phone designed for every Indian

      Reliance Jio has introduced India’s first safety-centric mobile phone under its JioBharat series, aimed at protecting vulnerable users from digital threats. Unveiled at IMC 2025, the budget handset features real-time tracking, content filtering, and health monitoring, making it ideal for children, women, and senior citizens. Reliance Jio has launched a new addition to its JioBharat series — India’s first ‘Safety-First’ mobile phone, designed to protect users from scams, frauds, and online threats. The announcement was made at the India Mobile Congress (IMC) 2025, where the company unveiled the phone’s all-new Safety Shield feature. Priced at Rs 799, the phone is tailored to meet the safety and connectivity needs of children, women, and senior citizens. With digital fraud and online exploitation on the rise,…

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    • 17 October
      126

      Rupee rises 88 paise as dollar index falls after Fed hints at more rate cuts

      The Indian rupee recovered 88 paise to 87.93 against the US dollar, aided by a declining dollar index, lower crude prices, and RBI intervention. Market watchers note the impact of US Fed rate cut signals, global uncertainties, and ongoing US shutdown. Mumbai: The rupee recovered 88 paise from its all-time closing low to 87.93 against US dollar in early trade on Wednesday, on easing dollar index after the US Fed indicated more rate cuts in the current year. Forex traders said all decline in crude oil prices and reports of RBI intervention supported the domestic currency. At the interbank foreign exchange market the rupee opened at 88.74 against the US dollar, then gained momentum and touched 87.93, registering a gain of…

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    • 17 October
      161

      Google’s Raiden Infotech to get Rs 22,000 cr incentives from Andhra for Vizag data centres

      Google’s Raiden Infotech will invest over ₹87,500 crore in Andhra Pradesh for gigawatt-scale data centres, receiving ₹22,000 crore in government incentives. The project is expected to create thousands of jobs and strengthen AP’s position as a digital hub. Amaravati: Raiden Infotech India Pvt Ltd, a Google company, which is setting up data centers in a phased manner, with a cumulative investment exceeding 87,500 crores in Andhra Pradesh, will receive Rs 22,000 crore as incentive from the state government over a period of time. According to a recent Government Order, Raiden Infotech will set up more than 1000 MW data centers in a phased manner, with a cumulative investment of Rs 87,520 Crores in Visakhapatnam and Anakapalli districts. In its biggest ever…

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    • 17 October
      107

      Gold hits record high above Rs 1.27 lakh on MCX amid US-China tensions, Fed rate cut hopes

      Gold surged to a record ₹1.27 lakh per 10 grams on MCX, tracking global gains as US-China tensions and hopes of Fed rate cuts boosted safe-haven demand. Silver also rose, while global gold hit near-record highs. Mumbai: Gold prices surged to a new record high on Wednesday, crossing Rs 1.27 lakh per 10 grams on the Multi-Commodity Exchange (MCX). The rise came as global gold prices rallied on renewed US-China trade tensions and growing expectations of further interest rate cuts by the US Federal Reserve. At the opening, MCX gold futures were up 0.52 per cent at Rs 1,26,915 per 10 grams, compared to the previous close of Rs 1,26,256. Soon after, prices touched a fresh all-time high of Rs 1,27,500…

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