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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 -
      1 September
      345

      Proposed Reliance Jio IPO billed as biggest public issue in Indian history

      Hyundai Motor India’s Rs 27,870-crore IPO in Oct 2024 is the biggest initial share-sale, surpassing the Rs 21,000-crore offering by LIC in May 2022 New Delhi: Reliance Jio, India’s largest telecom operator, is planning to launch its initial public offering (IPO) by the first half of 2026, which could be the biggest share-sale in the country’s history. Addressing the annual shareholders meeting of Reliance Industries, Chairman Mukesh Ambani on Friday said Jio is aiming to list by June 2026. According to market analysts, the initial share-sale of Jio is expected to be the biggest IPO in India. Till now, Hyundai Motor India’s Rs 27,870 crore (about USD 3.3 billion) IPO in October 2024 is the biggest initial share-sale. This had surpassed the Rs 21,000 crore…

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    • 1 September
      350

      Govt appoints former RBI Governor Urjit Patel as IMF Executive Director

      The government has appointed former RBI Governor Urjit Patel as India’s Executive Director at the International Monetary Fund for three years, replacing KV Subramanian. Patel, who earlier served at the AIIB and IMF, resigned as RBI Governor in 2018 New Delhi: The government has approved the appointment of former Reserve Bank Governor Urjit Patel as Executive Director at the International Monetary Fund (IMF) for a period of three years. He would replace K V Subramanian, whose services were terminated by the government six months ahead of his three-year tenure. The termination took effect on April 30, 2025. The Appointments Committee of the Cabinet has approved the appointment of Urjit Patel, economist and former RBI Governor, to the post of Executive Director…

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    • 1 September
      344

      Sensex, Nifty rebound after two-day decline as investors eye value buying

      Sensex and Nifty rebounded in early trade on Friday after two days of losses, led by value-buying. Key Sensex stocks gained while FIIs sold equities. India awaits US-India trade negotiations amid the 50 per cent tariff on Indian goods. Mumbai: Equity benchmark indices Sensex and Nifty rebounded in early trade on Friday after two days of sharp decline amid value-buying at lower levels. The 30-share BSE Sensex climbed 197.11 points to 80,277.68 in initial trade. The 50-share NSE Nifty went up by 63.45 points to 24,564.35. From the Sensex firms, Hindustan Unilever, Trent, Asian Paints, ITC, Kotak Mahindra Bank and UltraTech Cement were among the major gainers. However, Mahindra & Mahindra, NTPC, Eternal and Infosys were among the laggards. On Thursday, the Sensex…

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    • 1 September
      328

      Rupee falls 18 paise to 87.76 amid US tariffs, foreign fund outflows

      The Indian rupee slipped 18 paise to 87.76 against the US dollar on Friday due to persistent foreign fund outflows and US tariffs. RBI interventions and government support measures aim to stabilize currency and mitigate impact on exporters. Mumbai: The rupee depreciated 18 paise to 87.76 against the US dollar in early trade on Friday, weighed down by persistent foreign fund outflows and month-end dollar demand. Forex traders said the rupee is under persistent pressure as the weakness from Trump tariffs was being countered by a softer US dollar, giving the local currency some much-needed breathing space. At the interbank foreign exchange market, the rupee opened at 87.73 against the US dollar, then fell to 87.76, registering a decline of 18 paise over…

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    • Aug- 2025 -
      31 August
      380

      US tariffs: Need to stay united, must stand up to bullying, says Maruti Chairman RC Bhargava

      Maruti Suzuki Chairman R C Bhargava urged Indians to stand united against the US’s 50% tariffs on Indian goods, calling it economic bullying. He also welcomed proposed GST restructuring, expressing hope for reduced tax on small cars to boost consumers New Delhi: India needs to come together to deal with the 50 per cent punitive US tariffs on Indian products and stand up to any kind of bullying, Maruti Suzuki India Chairman R C Bhargava said on Thursday. “It is our duty as Indians to do our very best to promote and maintain our dignity and respect and not give in to any kind of bullying in this matter… the nation has to stand united,” Bhargava said at the company’s 44th…

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    • 31 August
      244

      Unpredictable American diplomacy complicating India trade talks, says ex-US diplomat

      Former US Charge d’Affaires to India Donald Heflin warned that Washington’s broken diplomatic norms and loss of career diplomats are complicating trade talks with New Delhi. While cautiously optimistic about incoming envoy Sergio Gor, he cautioned US unpredictability may strain ties Washington: Former US Charge d’Affaires to India, Donald Heflin, has warned that Washington’s unpredictable diplomatic approach is complicating trade negotiations with New Delhi. Heflin, who is now a Senior Fellow at the Fletcher School at Tufts University, argued that the traditional norms and processes of diplomacy are “broken” in Washington. “Normally, you go to a country like India and say we are thinking about raising tariffs on you, and here’s why. Now, if you can address the problem we’re concerned…

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    • 31 August
      237

      Ukraine conflict is ‘Modi’s war’, claims White House trade adviser

      White House trade adviser Peter Navarro controversially labeled the Ukraine conflict as “Modi’s war,” alleging India fuels Russia’s war machine by buying discounted oil. Navarro defended Trump’s 50% tariffs on India, insisting peace “runs through New Delhi,” drawing criticism for targeting India New York/Washington: The Ukraine conflict is “Modi’s war”, White House trade adviser Peter Navarro has alleged, saying the “road to peace” runs partly “right through New Delhi”. Navarro, President Donald Trump’s Senior Counsellor for Trade and Manufacturing, in an interview to Bloomberg on Wednesday claimed that “India is helping feed the Russian war machine”. “Everybody in America loses because of what India is doing. The consumers and businesses and everything lose, and workers lose because India’s high tariffs cost…

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    • 31 August
      220

      Textile, leather, gems and jewellery stocks decline

      Textile, leather, gems, and jewellery stocks fell in Thursday morning trade after the US imposed a steep 50% tariff on Indian goods from August 27, impacting exports worth over USD 48 billion. Broader markets also declined sharply in response New Delhi: Textile, leather, gems and jewellery stocks declined on Thursday morning trade as the steep 50 per cent tariff on Indian goods entering the United States came into effect. Shares of Alok Industries tanked 4.13 per cent, Raymond Lifestyle fell by 3.66 per cent, Siyaram Silk Mills dropped 2.92 per cent, Welspun Living declined 2.53 per cent, Gokaldas Exports went lower by 2.35 per cent and Trident Ltd dipped 2.16 per cent on the BSE. Among leather and footwear stocks, Zenith…

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    • 31 August
      265

      Dr Reddy’s expects new GST framework to address critical issues in pharma sector

      Association of Indian Medical Device Industry says changing GST rates for medical devices could impact domestic competitiveness if not carefully managed New Delhi: Dr Reddy’s Laboratories on Tuesday expressed hope that the new GST structure will take care of existing challenges and aid in ushering a rationalised, industry-friendly tax framework for the pharmaceutical industry. For an extended period, the pharmaceutical sector has faced structural challenges, including higher GST rates and an inverted duty structure, which have impacted the cost efficiency of domestic manufacturing and the affordability of medicines, Dr Reddy’s Laboratories Chairman Satish Reddy said in a statement. “We are optimistic that the forthcoming reforms will address these critical concerns and introduce a rationalised, industry-friendly tax framework,” he noted. Such measures will significantly…

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    • 30 August
      244

      India to become clean energy hub, says PM Modi

      PM Modi inaugurated hybrid battery production in Ahmedabad and launched EV exports to 100 countries, highlighting India’s clean energy leadership, domestic battery manufacturing, electric mobility growth, and strengthened India-Japan industrial cooperation Ahmedabad: Prime Minister Narendra Modi on Tuesday inaugurated localised production of hybrid battery electrodes and flagged off Battery Electric Vehicle (EV) exports to 100 countries from Hansalpur in Ahmedabad and stated that India will become a hub of clean energy. Addressing the gathering, PM Modi emphasised India’s growing role in clean energy and electric mobility, while underlining the deepening partnership between India and Japan. Highlighting India’s workforce and manufacturing potential, the Prime Minister said, “India has a demographic advantage, we have a skilled workforce. This makes it a win-win situation…

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