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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

    • Sep- 2025 -
      19 September
      496

      Sensex, Nifty trade flat amid volatility; Fed policy outcome in focus

      Sensex and Nifty opened higher on Monday but soon turned volatile, trading flat amid profit-taking after last week’s sharp rally. Investors await the US Fed’s policy outcome this week, while Brent crude rose to USD 67.39 a barrel. Mumbai: Benchmark equity indices Sensex and Nifty recorded marginal gains in early trade on Monday but later faced highly volatile trends and were quoting flat amid profit-taking after a sharp rally last week. Markets are awaiting outcome of this week’s US Federal Reserve policy meeting. The 30-share BSE Sensex went up by 93.81 points to 81,998.51 in early trade. The 50-share NSE Nifty edged higher by 24.45 points to 25,138.45. Later, the BSE benchmark quoted 10.06 points down at 81,904.31, and the Nifty traded 12.65…

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    • 19 September
      495

      Rupee slips 4 paise to 88.30 amid tariff worries, RBI intervention limits fall

      The rupee slipped 4 paise to 88.30 against the US dollar on Monday amid trade tariff concerns, foreign outflows, and Fed rate-cut expectations. RBI intervention helped cap losses, while forex reserves rose by USD 4.04 billion last week. Mumbai: The rupee witnessed range-bound trading in morning deals on Monday and depreciated 4 paise to 88.30 against the US dollar, as tariff-led pressure on India’s exports weighed on investor sentiments. Forex traders said the rupee traded in a tight range as it is caught between worries over US trade tariffs, persistent foreign portfolio outflows, and hopes of a US rate cut. At the interbank foreign exchange market, the rupee opened at 88.25, then lost ground and touched a low of 88.30 against the US…

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    • 19 September
      505

      Gold jumps Rs 3,300 in a week, Silver crosses Rs 1.28 lakh

      Gold and silver prices surged this week, with 24-carat gold rising by over Rs 3,300 and silver breaching the Rs 1.28 lakh mark, amid global uncertainty and safe-haven demand New Delhi: Gold and silver prices witnessed a sharp rally this week, keeping both precious metals close to their all-time highs. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold stands at Rs 1,09,707 per 10 grams, compared to Rs 1,06,338 a week ago — reflecting a rise of Rs 3,369. Prices of 22-carat gold have climbed from Rs 97,406 to Rs 1,00,492 per 10 grams, while 18-carat gold has risen from Rs 79,754 to Rs 82,280 per 10 grams. Silver prices also gained significantly, rising by…

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    • 19 September
      481

      ‘Made in India’ iPhone 17 drives record interest for Apple

      Apple’s iPhone 17 series has seen strong pre-orders in India, driven by rising local manufacturing, expanded retail presence, and a design refresh. The base model now offers higher storage at launch New Delhi: The demand for Apple’s new iPhone 17 series is rising fast in India, with industry sources saying pre-orders have been stronger than last year. The surge comes at a time when Apple has been steadily increasing its “Made in India” push, expanding both local manufacturing and retail presence in the country. Pre-orders for the iPhone 17 and iPhone 17 Pro, which opened on September 12, have seen high interest across Apple’s online store, its retail outlets in Mumbai, Delhi, Pune and Bengaluru. Sources said Apple’s latest model has…

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    • 18 September
      143

      Study finds high-end aluminium alloy project in AP commercially unviable: Nalco report

      A Nalco-MIDHANI joint venture to build a 60,000 TPA high-end aluminium alloy plant in Nellore, Andhra Pradesh, has been deemed commercially unviable due to low demand and localisation levels. Ministries are reviewing closure despite land acquisition and earlier investment plans New Delhi: A proposed high-end aluminium alloy project in Andhra Pradesh, jointly developed by Nalco and defence PSU Mishra Dhatu Nigam Ltd, has been found commercially unviable, according to a report. The proposed project with a capacity of 60,000 tonnes per annum is not commercially viable due to a lack of demand, low per capita aluminium consumption in India and a lower level of aluminium localisation in sectors such as aerospace, defence, marine and automotive. Utkarsha Aluminium Dhatu Nigam Ltd, a…

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    • 18 September
      337

      Gold and Silver prices hit record high, driven by global uncertainty

      Gold and Silver prices surged to fresh record highs this week, driven by global uncertainty, tariff concerns, and safe-haven demand, with analysts expecting the bullish trend to continue in near term New Delhi: Gold and Silver prices continued their upward march this week, scaling fresh all-time high as concerns over US Tariffs and heightened Geopolitical tensions kept Safe-haven demand strong. According to data from the Indian Bullion and Jewellers Association (IBJA), 24-carat Gold closed at Rs 1,09,707 per 10 grams on Friday, registering a sharp gain of Rs 1,670 from Monday’s level of Rs 1,08,037. The rally pushed Gold prices firmly above the Rs 1 lakh mark throughout September, with rates standing at Rs 1,04,075 on September 1. Similarly, 22-carat Gold…

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    • 18 September
      150

      Flipkart reports Rs 5,189 crore loss in financial year 2025 despite revenue growth

      Flipkart India widened its consolidated losses to Rs 5,189 crore in FY25 despite revenue growth, while Flipkart Internet narrowed its losses, highlighting mixed financial performance amid rising expenses and finance costs Mumbai: Walmart-owned e-commerce major Flipkart India Private Limited has reported a wider consolidated loss of Rs 5,189 crore in the financial year ending March 2025 (FY25). According to data shared by business intelligence platform Tofler, the company posted a Rs 4,248.3 crore net loss in the previous financial year (FY24). Flipkart’s consolidated revenue from operations rose 17.3 per cent to Rs 82,787.3 crore in FY25, up from Rs 70,541.9 crore in FY24. However, the company’s expenses also grew at almost the same pace. Total expenses jumped 17.4 per cent to…

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    • 18 September
      322

      POCO India launches 4GB limited edition M7 Plus 5G with 7000mAh battery, AMOLED display

      POCO India has launched a 4GB limited edition variant of its best-selling M7 Plus 5G under its festive campaign. Featuring a 7000mAh battery, Snapdragon 6s Gen 3, and 144Hz AMOLED display, the phone goes on sale from September 23 via Flipkart. SEO Keywords: New Delhi: POCO India, one of the country’s leading consumer technology brands, on Saturday announced the launch of a new 4GB limited edition variant of the POCO M7 Plus 5G, introduced in response to the strong consumer demand for an even more affordable performance-driven smartphone. The new variant will debut under POCO’s festive campaign ‘POCO Festive MADness’, with early access starting September 22 and the first sale going live on September 23, exclusively on Flipkart. The move highlights…

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    • 16 September
      519

      Hyderabad-based Dr Reddy’s inks pact with Johnson & Johnson to acquire vertigo treatment brand

      Dr Reddy’s Laboratories has acquired the anti-vertigo brand Stugeron from Johnson & Johnson in 18 EMEA and APAC markets, including India and Vietnam. The move strengthens its CNS portfolio and supports its goal to reach 1.5 billion patients by 2030 New Delhi: Dr Reddy’s Laboratories on Thursday announced the completion of a definitive transaction with Johnson & Johnson to acquire Stugeron brand across the EMEA regions, with India and Vietnam as key markets. Stugeron contains Cinnarizine, an antihistamine indicated for the treatment of vestibular disturbances and vertigo. The acquisition presents a strategic opportunity for the Hyderabad-based drug firm to expand its footprint in the anti-vertigo space as well as strengthen its Central Nervous System (CNS) portfolio, Dr Reddy’s Laboratories said in…

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    • 16 September
      485

      Sensex, Nifty rise in early trade on Asian cues and Fed rate cut hopes

      Sensex and Nifty opened higher on Thursday, tracking gains in Asian markets and hopes of a US Fed rate cut. Optimism over India-US trade talks also supported sentiment, even as FIIs sold shares while DIIs provided strong buying support. Mumbai: Equity benchmark indices Sensex and Nifty were trading with gains in early trade on Thursday tracking a rally in Asian markets amid hopes that the US Federal Reserve will cut interest rates next week. Renewed optimism over a successful conclusion of India-US trade talks also lend support to the markets to stay in the positive territory. The 30-share BSE Sensex climbed 153.82 points to 81,578.97 in early trade. The 50-share NSE Nifty went up 34.15 points to 25,007.25. From the Sensex firms, Eternal,…

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