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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 -
      14 September
      288

      Sensex, Nifty rally on global cues, GST rate cut optimism; Fed rate hopes boost sentiment

      Equity benchmarks Sensex and Nifty surged in early trade on Monday, tracking positive global trends and buoyed by hopes of a US Fed rate cut and domestic GST relief. Automobiles, metals and cement stocks led gains, while select FMCG lagged. Mumbai: Benchmark equity indices Sensex and Nifty rallied in early trade on Monday tracking a firm trend in global markets amid hopes of a rate cut by the US Federal Reserve later this month. The recent GST rate cut announcement also added to markets’ optimism during the initial trade. The 30-share BSE Sensex climbed 296.26 points to 81,007.02 in early trade. The 50-share NSE Nifty rallied 90.35 points to 24,831.35. From the Sensex firms, Tata Steel, Tata Motors, Mahindra & Mahindra, Adani Ports,…

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    • 14 September
      290

      Audi India announces price cut to over Rs 7.8 lakh to pass on GST benefits

      Audi India has slashed prices by Rs 2.6–7.8 lakh across models, including Q3, Q5, Q7, Q8, A4, and A6, following the GST 2.0 rate cut. The move aims to boost festive season demand by enhancing affordability New Delhi: German luxury car maker Audi on Monday announced a price cut ranging from Rs 2.6 lakh to over Rs 7.8 lakh in its vehicles in India across models to pass on the benefits of the GST rate cut on automobiles. Audi India has revised prices across its product portfolio following the implementation of GST 2.0, the company said in a statement. Subsequently, the benefits to customers range from Rs 2.6 lakh to over Rs 7.8 lakh, depending on the model, it added. Under the…

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    • 13 September
      165

      Home-cooked thalis 7–8% cheaper in August on lower onion, potato, pulse prices: Report

      The cost of home-cooked vegetarian thalis fell 7% and non-vegetarian thalis 8% year-on-year in August, driven by sharp declines in onion, potato, and pulse prices, a Crisil Intelligence report showed. Higher crop production and stable stocks eased household food expenses. New Delhi: The price of home-cooked vegetarian and non-vegetarian thalis declined 7 per cent and 8 per cent in August (year-on-year), respectively, amid benign commodity prices in India, a report showed on Monday. The decline in the cost of vegetarian thali was led by a sharp drop in prices of onion, potato and pulses, according to Crisil Intelligence. Prices of potato and onion declined 31 per cent and 37 per cent on-year, respectively, on a high base. In the year-ago period,…

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    • 13 September
      340

      Gold jumps by Rs 4,000 this week, silver crosses Rs 1.23 lakh mark

      Gold surged to Rs 1.06 lakh per 10 grams and silver crossed Rs 1.23 lakh per kg this week, driven by global uncertainty, tariffs, and investor demand for safe-haven assets New Delhi: Gold and silver prices surged sharply over this week, pushing gold to Rs 1.06 lakh per 10 grams and silver beyond Rs 1.23 lakh per kilogramme. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold now stands at Rs 1,06,338 per 10 grams, compared to Rs 1,02,388 a week ago — an increase of Rs 3,950. The price of 22-carat gold has risen to Rs 97,406 from Rs 93,787, while 18-carat gold has climbed from Rs 76,791 to Rs 79,754 per 10 grams. Silver…

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    • 13 September
      328

      Taxpayers urged to file ITRs before the Sep 15 deadline

      The Sep 15 deadline for filing ITRs is fast approaching, with over 4.56 crore returns already filed. Taxpayers are urged to avoid last-minute submissions to prevent inconvenience New Delhi: With the Sept 15 deadline for filing Income Tax Returns for individuals approaching, over 4.56 crore people have filed their ITRs, while the submission of returns is accelerating as the last date nears. Senior Income Tax Dept. officials are of the view that taxpayers “should not wait till the last-minute” to file their returns, as it leads to inconvenience. The filing of tax returns has been made easy, and the simple process for individuals to file their own returns is as follows: — Log in at incometax.gov.in using PAN/Aadhaar & password —…

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    • 13 September
      335

      Air India CEO says incident rate normal given group’s scale and size

      Air India CEO Campbell Wilson said recent incidents involving the airline are proportionate to its scale, with over 1,200 daily flights. The carrier plans to let cabin crew issue e-vouchers to address service lapses while boosting transparency and customer trust New Delhi: Air India chief Campbell Wilson has said that in the context of Air India Group’s scale and size, the “incidence rate is entirely normal” amid incidents involving some of its aircraft in recent times. The airline is planning to allow its cabin crew to provide e-vouchers to passengers on board flights to compensate for service deficiencies. The plan comes against the backdrop of instances of passengers complaining about service issues, as well as flight cancellations and delays due to…

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    • 13 September
      171

      GST rate cuts big relief for FMCG, apparel, footwear, restaurants: Bernstein report

      Bernstein predicts India’s consumption will get a boost from the government’s GST rate cuts. Personal care, home care, FMCG, grocery retail, footwear, apparel, and quick-service restaurants are expected to gain from the revised tax structure, which lowers GST on key items. New Delhi: The sweeping GST rate cuts announced by the government will give a strong push to India’s consumption story, according to a report. In its latest report, the global financial services firm Bernstein has painted an optimistic picture for sectors like footwear, quick-service restaurants (QSRs), FMCG, and grocery retail. According to Bernstein, the biggest surprise was the sharp cut in GST on personal care and home care items such as soaps, shampoos, hair oil, powders, and toothpaste. The tax…

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    • 9 September
      503

      Vedanta’s takeover of Jaiprakash Associates raises concerns over SLBC tunnel project

      Vedanta’s takeover of debt-ridden Jaiprakash Associates with a Rs 17,000 crore bid has raised doubts over the timely completion of the SLBC tunnel, the world’s longest irrigation tunnel, already delayed by a roof collapse and geological challenges. Hyderabad: Hyderabad: Vedanta Group’s Rs 17,000 crore bid to acquire Jaiprakash Associates (JAL), outpacing Adani Group’s offer, has sparked uncertainty about the future of the Srisailam Left Bank Canal (SLBC) tunnel project. The world’s longest irrigation tunnel, intended to irrigate 4,00,000 acres and provide drinking water to 516 villages in Telangana, faces delays following a roof collapse on February 22, 2025. Eight workers went missing after the incident, with only two bodies recovered while six remain untraced in the tunnel. The project, with 9.6 km of…

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    • 9 September
      497

      Vedanta beats Adani with Rs 17,000 cr bid to acquire Jaiprakash Associates

      JAL — with interests in real estate, cement, power, hotels and roads — has been dragged into insolvency proceedings after defaulting on payment of loans New Delhi: Mining conglomerate Vedanta on Friday beat Gautam Adani’s Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates’ net present value of Rs 12,505 crore. JAL, which has interests in real estate, cement, power, hotels and roads, has been dragged into insolvency proceedings after it defaulted on payment of loans. Lenders of JAL conducted a challenge process for the sale of the company under the IBC. Multiple bidders participated in the process, but in the end,…

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    • 9 September
      494

      Hyderabad-based VEM Technologies delivers second centre fuselage for Tejas Mk1A in record three months

      Vem Technologies has delivered its second centre fuselage assembly for the Tejas Mk1A to HAL, strengthening India’s indigenous fighter jet programme. HAL is expected to hand over the first two Mk1A jets to the IAF in October, pending weapon trials. Hyderabad: In a major boost to Tejas Mark-1A production, a light combat aircraft (LCA), the Hyderabad-based Vem Technologies Private limited successfully delivered the second centre fuselage assembly to the Hindustan Aeronautics Limited (HAL) on Thursday. After handing over the first centre fuselage to HAL on May 30, 2025, the company manufactured and delivered the second fuselage in a record time of just three months. It planned to deliver three more centre fuselages by the end of this financial year, which will further enhance…

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