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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 -
      9 September
      488

      Adani Power gets shareholders’ nod for 1:5 stock split

      Adani Power shareholders have approved a 1:5 stock split, sub-dividing each ₹10 share into five shares of ₹2 each. The move, aimed at boosting retail investor participation, raises total equity shares from 2,480 crore to 12,400 crore New Delhi: Adani Power on Friday said it has received shareholders’ approval for a stock split in the ratio of 1:5 through a postal ballot notice issued on August 1, 2025. The resolution has been considered as duly passed with the requisite majority, as mentioned in the postal ballot notice dated August 1, a regulatory filing stated. According to the notice, each equity share of Rs 10 will be sub-divided into five fully paid-up equity shares of the face value of Rs 2 each,…

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    • 8 September
      732

      Small car prices likely to drop by up to Rs 1 lakh after GST rate cut

      Small car prices are set to drop by up to Rs 1 lakh following the GST rate cut, offering relief to middle-class buyers and reviving demand in smaller cities. The move, welcomed by automakers, is expected to boost festive season sales New Delhi: Small car prices can come down by up to Rs 1 lakh due to the GST rate cut on the auto sector, leading to demand revival, especially in smaller cities and towns, amid the ongoing festive season, industry observers said on Thursday. The GST rationalisation is expected to revive demand in the entry-level segment, which was gradually losing its grip in the Indian passenger vehicle market. The segment accounted for just 31 per cent of the total PV…

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    • 8 September
      571

      Auto stocks surge on GST reforms; M&M jumps nearly 8 pc

      Auto stocks surged as the GST Council approved major reforms, cutting rates on small cars, entry-level bikes, and hybrids from 28% to 18%. Mahindra & Mahindra rose nearly 8%, while sector-wide gains lifted the BSE auto index and market sentiment New Delhi: Auto stocks surged on Thursday morning trade, with Mahindra & Mahindra climbing nearly 8 per cent, as small cars and entry-level bikes are set to get cheaper with the GST Council approving a complete overhaul of the tangled Goods and Services Tax regime. Shares of Mahindra & Mahindra jumped 7.75 per cent, Eicher Motors surged 5.39 per cent, TVS Motor Company climbed 4.20 per cent and Hero MotoCorp went up by 3.56 per cent on the BSE. The stock…

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    • 8 September
      549

      Household food expenses to drop significantly after tax on staples slashed

      The GST Council, led by Finance Minister Nirmala Sitharaman, slashed taxes on daily essentials and packaged foods ahead of the festive season. UHT milk, paneer, parathas, biscuits, chocolates, dry fruits, and dairy products now attract lower or nil GST, boosting consumption outlook New Delhi: Ahead of the festive season, the GST Council, led by Union Finance Minister Nirmala Sitharaman, has announced significant reduction or tax exemption on several food items, packaged food and daily essentials. UHT milk, paneer, pizza bread, rotis, and khakhras will now have zero tax after GST 2.0, reduced from 5 per cent. Parathas and parottas, previously taxed at 18 per cent, are now in the nil bracket. GST on key dairy items like butter, ghee, and cheese…

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    • 8 September
      567

      GST Bonanza fuels stock markets rally; Sensex jumps nearly 900 points

      Benchmark indices Sensex and Nifty surged sharply after the GST Council approved a major overhaul of the tax regime, lowering rates on daily-use items and insurance. Investors cheered the reform, boosting consumption outlook, though concerns over tariff issues remain Mumbai: Benchmark equity indices Sensex and Nifty surged in early trade on Thursday as investors became cheerful after the GST Council approved a complete overhaul of the tangled Goods and Services Tax regime. The 30-share BSE Sensex jumped 888.96 points to 81,456.67 in opening trade. The 50-share NSE Nifty surged 265.7 points to 24,980.75. Common use items from roti/paratha to hair oil, ice creams and TVs will cost less, while tax incidence on personal health and life insurance will be brought down…

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    • 7 September
      444

      Opinion: RBI must address frontline Banking and Financial Services attrition

      The BFS frontline staff face a perfect storm: attrition at historic highs, stagnant wages, and rising pressures from digital shift. Time RBI created a Productivity and Attrition Task Force for them By T Muralidharan India’s banking and financial services (BFS) sector relies heavily on its frontline workforce for sales, customer service, and operational activities. Yet attrition — especially infant attrition within the first 3-6 months — remains alarmingly high, eroding productivity, customer trust, and increasing operating costs. The Reserve Bank of India (RBI) has acknowledged attrition concerns but requires a dedicated mechanism to measure and address them. A Productivity and Attrition Task Force (PAT) is urgently needed to standardise reporting, link wages to productivity, and recommend sustainable workforce practices. Without…

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    • 7 September
      386

      GST overhaul may lower prices, boost demand, say economists

      Economists say the 56th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, may result in a significant reform of the GST structure that could simplify the tax regime and lower prices. Experts believe the changes would boost household disposable income, increase demand, and drive consumption-led growth. New Delhi: Economists on Wednesday said that the ongoing 56th meeting of the Goods and Services Tax (GST) Council, chaired by Finance Minister Nirmala Sitharaman, could pave the way for a major tax reform that will directly benefit consumers. They say that any revision in the GST slabs will make goods cheaper and give a strong push to demand in the economy. Economist Rajeev Sahu told IANS that the two-day council meeting is particularly crucial as…

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    • 7 September
      222

      We get along with India very well: Trump

      President Donald Trump criticized the US-India trade relationship as “one-sided,” citing high Indian tariffs on American goods. While acknowledging improved ties, he defended steep US tariffs. India called the measures “unjustified,” asserting its right to protect national economic interests New York/Washington: President Donald Trump has said the US gets along with India “very well” but the relationship was “one-sided” for many years since New Delhi was charging Washington “tremendous tariffs”. “No, we get along with India very well,” Trump said in the White House on Tuesday in response to a question on whether he is considering taking away some of the tariffs imposed on India. Trump’s comments come amid a strain in ties between New Delhi and Washington after the US…

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    • 7 September
      125

      Semicon India 2025: India on track to become global semiconductor hub, say Industry leaders

      At the Semicon India 2025 event in New Delhi, industry leaders hailed India’s growing semiconductor ecosystem, citing strong government support, rising local demand, and international collaborations as key drivers. The event also saw 12 MoUs signed to boost indigenous technologies and talent development. New Delhi: Industry leaders on Tuesday hailed India’s vision of becoming a semiconductor manufacturing hub, saying the country is rapidly building a semiconductor ecosystem. Speaking to IANS on the sidelines of SEMICON India, industry leaders said India’s strong talent, supportive policies and international partnerships are the key factors driving this transformation. “I think this morning, Prime Minister (Narendra) Modi already shared a very strong ambition for India, the semiconductor growth. But as a part of the Semicon ecosystem…

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    • 7 September
      261

      Apple opens first retail store in Bengaluru, third in India

      Apple launched its first store in Bengaluru, Apple Hebbal, the company’s third outlet in India. Customers can explore iPhone 16, MacBook Pro M4, and other latest products. The store employs 70 staff from 15 states and operates on renewable energy Bengaluru: Apple on Tuesday opened its first retail store in Bengaluru, marking its debut in South India and the company’s third outlet in the country. Named Apple Hebbal, the store will offer customers the full range of Apple products, services, and support, along with free Today at Apple sessions designed to help users get the most out of their devices, the company said in a statement. Apple launched its first India store, Apple BKC, in Mumbai, followed by Apple Saket in Delhi,…

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