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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 -
      13 October
      256

      InGovern flags tax and royalty risks in LG Electronics India IPO

      Governance advisory firm InGovern has highlighted risks in LG Electronics India’s IPO, including Rs 4,717 crore in disputed tax claims, royalty payments to the South Korean parent, and high promoter stake, which could impact minority shareholder influence and profit margin Mumbai: Governance advisory firm InGovern Research Services has raised several red flags for investors in LG Electronics India Limited’s initial public offering (IPO), warning that the company’s contingent liabilities, royalty payment structure, and related-party transactions could pose significant risks. According to InGovern, LG Electronics India has disclosed contingent liabilities worth Rs 4,717 crore — equivalent to nearly 73 per cent of its net worth — mainly due to disputed tax claims under litigation. The firm cautioned that any negative outcome in…

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    • 13 October
      164

      TCS Q2 FY26 net profit rises 1.4 per cent to Rs 12,075 crore

      TCS reported a 1.39 per cent rise in Q2 FY26 net profit to Rs 12,075 crore, with revenues growing 2.39 per cent to Rs 65,799 crore. Sequentially, profit fell 5.3 per cent, while revenue increased 3.7 per cent. The company declared a second interim dividend of Rs 11 per share New Delhi: India’s largest IT services firm, Tata Consultancy Services (TCS), on Thursday reported a 1.39 per cent increase in consolidated net profit to Rs 12,075 crore in the July-September quarter of this financial year. It had posted a profit of Rs 11,909 crore in the corresponding quarter of FY25. Revenues from operations for Q2 FY26 rose 2.39 per cent to Rs 65,799 crore, up from Rs 64,259 crore in Q2 FY25, according…

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    • 13 October
      160

      Recent IPOs slump with BMW Ventures, Om Freight, and Glottis losing up to 40 pc after listing

      Investor enthusiasm for recent IPOs quickly turned to disappointment as BMW Ventures, Om Freight Forwarders, and Glottis Limited saw steep declines of 35–40% post-listing. Despite strong subscription numbers, selling pressure has persisted, with most new listings now below issue prices. Mumbai: Investor excitement over recent IPOs has quickly turned into disappointment as newly listed stocks — BMW Ventures, Om Freight Forwarders, and Glottis Limited — have seen steep declines soon after debut. Despite healthy subscription numbers, all three companies have suffered heavy losses on Dalal Street, with their shares plunging between 35 and 40 per cent within days of listing. Om Freight Forwarders Limited made its market debut on October 8, but the excitement quickly faded. The stock was listed at…

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    • 12 October
      171

      Sensex and Nifty rebound in early trade amid Reliance, IT stocks, and FII buying

      Sensex and Nifty rebounded in early trade on Thursday, driven by gains in Reliance Industries, IT stocks, and FII inflows. Asian markets showed mixed trends, Brent crude fell, and Wall Street’s record highs supported positive sentiment at Dalal Street. Mumbai: Stock market benchmark indices Sensex and Nifty rebounded in early trade on Thursday amid buying in blue-chip Reliance Industries, IT firms and foreign fund inflows. The 30-share BSE Sensex went up by 201.23 points to 81,974.89 in early trade. The 50-share NSE Nifty climbed 63.5 points to 25,109.65. From the Sensex firms, Tata Steel, HCL Tech, Sun Pharma, Eternal, Mahindra & Mahindra, Reliance Industries, Larsen & Toubro, Axis Bank, Hindustan Unilever and Infosys were among the major gainers. However, Power Grid, Bajaj Finance,…

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    • 12 October
      119

      Rupee slips 3 paise to 88.78 against US dollar amid US fiscal, trade tariff concerns

      The Indian rupee fell 3 paise to 88.78 against the US dollar on Thursday, as investors monitored US fiscal developments, trade tariff issues, and FPI activity. Domestic equities provided support, while Brent crude and the dollar index saw marginal declines. Mumbai: The rupee traded in a narrow range and fell 3 paise to 88.78 against the US dollar in early trade on Thursday, as investors are watching US fiscal developments, trade tariff issues and FPI trends for further cues. Forex traders said all positive trends in domestic equities supported the rupee at lower levels. At the interbank foreign exchange market, the rupee opened at 88.76 and then lost ground to touch 88.78 against the US dollar, registering a decline of 3 paise from…

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    • 12 October
      127

      Gold, silver prices dip on MCX as traders book profits after record highs

      Gold and silver prices eased in early trade Thursday on the MCX as investors booked profits after record highs. December gold futures slipped 0.34% to ₹1,22,789 per 10g, while silver dropped 0.75% to ₹1,48,738 per kg amid global cues. Mumbai: Gold and silver prices fell in early trade on Thursday, on the Multi Commodity Exchange (MCX), as investors booked profits after both metals hit record highs in the previous session. At around 9:15 am, MCX Gold December futures were down 0.34 per cent at Rs 1,22,789 per 10 grams, while MCX Silver December futures slipped 0.75 per cent to Rs 1,48,738 per kg. In Wednesday’s session, gold futures for December delivery had touched an all-time high of Rs 1,23,450 per 10…

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    • 12 October
      232

      RBI Governor announces development of Unified Market Interface

      RBI has conceptualised a Unified Market Interface and Unified Lending Interface to enhance fintech services, said Sanjay Malhotra. He urged inclusive, user-friendly designs, emphasised AI and digital infrastructure, and flagged growing digital fraud risks in India’s fintech ecosystem Mumbai: Reserve Bank of India Governor Sanjay Malhotra said on Wednesday that the RBI has conceptualised a Unified Market Interface (UMI) and work is underway to develop standards for customer onboarding on digital platforms. Addressing the Global Fintech Fest 2025 event here, Malhotra also said that the proposed “Unified Lending Interface (ULI) aims to enable the use of data for lenders to build alternative credit models just as UPI has done in the payment space”. He urged fintech firms to “design products and services that…

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    • 11 October
      114

      Sensex and Nifty rise in early trade as IT stocks gain, FIIs turn buyers

      Sensex and Nifty climbed in early trade on Wednesday, extending their five-day winning streak. Gains were led by IT stocks and fresh foreign fund inflows. Asian markets were mixed, while Brent crude rose 0.78%, and US markets ended lower. Mumbai: Benchmark indices Sensex and Nifty climbed in early trade on Wednesday, taking their winning momentum to the fifth day running, driven by buying in IT stocks and fresh foreign fund inflows. The 30-share BSE Sensex climbed 254.02 points to 82,180.77 in early trade. The 50-share NSE Nifty went up by 70.25 points to 25,178.55. From the Sensex firms, Titan, Infosys, Tata Consultancy Services, Tech Mahindra, HCL Tech and Maruti were among the biggest gainers. However, Power Grid, Sun Pharma, UltraTech Cement and Hindustan…

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    • 11 October
      128

      No manipulation or foul play in Air India crash probe, says Aviation Minister

      Civil Aviation Minister K Rammohan Naidu dismissed allegations of manipulation in the investigation into the Air India plane crash that killed 260 people, saying the probe by the Aircraft Accident Investigation Bureau is transparent and conducted as per rules New Delhi: Civil Aviation Minister K Rammohan Naidu on Tuesday said there is “no manipulation or dirty business” happening in the investigation into the Air India plane crash that killed 260 people on June 12. His assertion comes against the backdrop of concerns expressed in certain quarters about the Aircraft Accident Investigation Bureau (AAIB) probe into the fatal crash. Naidu said everyone has to wait for the final AAIB probe report to know what exactly happened. “There is no manipulation, or there…

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    • 11 October
      120

      Nagarro to hire 1,000 professionals in India over the next 18 months

      Global digital engineering company Nagarro plans to hire around 1,000 professionals in India over the next 12–18 months to strengthen its presence in Bengaluru, Hyderabad, and Pune. CEO Manas Human said AI-driven transformation and hiring challenges are shaping market trends New Delhi: Nagarro plans to add about 1,000 more professionals in India over the next 12–18 months as the global digital engineering company aims to strengthen its capabilities across key hubs, including Bengaluru, Hyderabad, and Pune. The company currently employs about 13,000 people in India. “We have about 700 open positions in India, but those profiles are not that easy to fill. One of the metrics I am tracking closely is hiring effectiveness because, right now, ironically, we are facing a…

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