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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

    • Aug- 2025 -
      30 August
      213

      India-Japan partnership set to drive inclusive growth across Global South

      Prime Minister Narendra Modi will visit Japan on August 29 for his first annual summit with PM Shigeru Ishiba to strengthen strategic ties, trade, and technology cooperation. The partnership is expected to benefit Africa and the wider Global South through sustainable growth New Delhi: Prime Minister Narendra Modi, in his meeting with his Japanese counterpart Shigeru Ishiba this week, will review the Special Strategic and Global Partnership between India and Japan, including defence and security, trade and economy, technology and innovation, as well as discuss issues of regional and global importance. The visit, which will reaffirm the longstanding special bond of friendship between the two countries, also comes close on the heels of the Africa summit hosted by Japan last week.…

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    • 30 August
      184

      US moves ahead with plans to impose 50 pc tariff on India, starting Wednesday

      The US administration will raise tariffs on Indian imports to 50% from Wednesday, targeting India over continued Russian oil purchases, sparking concerns in markets and raising trade tensions. Washington/New Delhi: The US administration has decided to raise tariffs on Indian imports, with an additional 25 per cent duty for purchasing Russian oil, which is set to take effect from August 27. This decision will push the overall tariffs to 50 per cent on Indian goods entering the US. The Department of Homeland Security (DHS) confirmed that the new measures will take effect from “12:01 am Eastern Daylight Time on 27 August as per their latest draft notice”. According to the draft notice issued by the DHS, the duties target India under…

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    • 30 August
      192

      Gold slips Rs 200 to Rs 1,00,170/10 g, silver trades flat

      Gold prices slipped by ₹200 to ₹1,00,170 per 10 grams in Delhi on Monday, tracking weak global cues. Silver held steady at ₹1,15,000/kg. Analysts cited Fed’s dovish stance, US job data, inflation, and GDP outlook as key factors New Delhi: Gold prices slipped Rs 200 to Rs 1,00,170 per 10 grams in the national capital on Monday due to selling by stockists in line with a bearish trend in the global markets, according to the All India Sarafa Association. On Friday, the precious metal of 99.9 per cent purity had closed at Rs 1,00,370 per 10 grams. In the national capital, gold of 99.5 per cent purity dipped by Rs 150 to Rs 99,900 per 10 grams (inclusive of all taxes)…

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    • 30 August
      179

      Amazon and HPCL launch 40 more Ashray rest stops across 13 cities

      Amazon India expanded its ‘Project Ashray’ with 40 new rest centres for delivery associates in partnership with HPCL. The centres, now totalling 65 across 13 cities, provide essential amenities and are open to all delivery personnel in the ecosystem. New Delhi: E-commerce major Amazon India on Monday announced expansion of ‘Project Ashray’, launching 40 more rest centres for all delivery partners across the country in collaboration with Hindustan Petroleum Corporation Limited (HPCL). Ashray centres are dedicated rest stops for delivery associates, offering air-conditioned seating, clean drinking water, mobile charging points, washrooms, and first-aid kits. With the latest addition, Amazon now operates 65 Ashray centres across 13 cities, including 24 in Delhi-NCR. Amazon aims to set up 100 such centres by the end…

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    • 29 August
      217

      RBI chief Malhotra says growth focus intact amid tariffs, geopolitical risks

      RBI Governor Sanjay Malhotra stressed that the central bank remains focused on growth despite tariff and geopolitical challenges. He urged banks and corporates to revive investments, assured sector-specific support, and confirmed upcoming measures to expand credit and enhance financial inclusion Mumbai: Reserve Bank governor Sanjay Malhotra on Monday said that corporates and banks need to come together to boost investments amid challenges emanating from tariff uncertainties and geopolitical concerns, stressing that the central bank has not lost sight of growth objectives. Speaking at the annual Fibac event here, the Governor said he is hopeful that the ongoing negotiations between the US and Indian trade representatives will yield a decision which will “minimize” the impact of tariffs on the domestic economy. Amid…

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    • 29 August
      219

      Govt imposes minimum import price of Rs 67,220 per tonne on multi-layer paper board till Mar 2026

      The government has imposed a minimum import price of ₹67,220 per tonne on virgin multi-layer paperboard imports till March 31, 2026, to curb dumping from countries like Indonesia. The move follows an anti-dumping probe initiated after complaints from domestic manufacturers New Delhi: The government has imposed a minimum import price of Rs 67,220 per tonne on virgin multi-layer paper board till March 31, 2026, according to a notification. The product is used in the packaging of pharmaceuticals, FMCG products, food and beverages, electronics, high-end cosmetics, liquor, book covers, and publishing. “MIP (minimum import price) of Rs 67,220 per tonne on cost, insurance, and freight (CIF) value, is imposed for import of virgin multi-layer paper board…till March 31, 2026,” the Directorate General…

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    • 29 August
      123

      Asian shares track Wall Street’s rally after Powell hints at rate cuts

      Asian shares rose Monday, tracking Wall Street’s rally after Fed Chair Jerome Powell hinted at possible rate cuts amid labor market risks. Gains were led by Hong Kong, Shanghai, and Taiwan, with chipmakers boosting sentiment ahead of Nvidia’s earnings report Bangkok: Asian shares advanced on Monday, tracking Wall Street’s rally after the head of the Federal Reserve hinted that cuts to interest rates may be on the way. Fed chair Jerome Powell said Friday in a speech to an annual conference in Jackson Hole, Wyoming, that he’s seen risks for the job market. A surprisingly weak report on job growth this month has led many traders to expect a rate cut as soon as the Fed’s next meeting in September, after…

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    • 29 August
      216

      Benchmark indices rebound as IT stocks lead gains amid US Fed rate cut hopes

      Benchmark indices rose in early trade, boosted by IT stock buying and global markets reacting to a potential US Federal Reserve rate cut. Sensex and Nifty gained, while Asian and US markets showed positive trends amid investor optimism. Hyderabad: Benchmark indices rebounded in early trade on Monday in line with a rally in global equity markets on hopes of a potential US Federal Reserve rate cut. Buying in IT stocks also drove the markets higher during the initial trade. The 30-share BSE Sensex climbed 285.62 points to 81,592.47 in early trade. The 50-share NSE Nifty went up by 91.25 points to 24,961.35. From the Sensex firms, Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, Bajaj Finance, and Tata Steel were among…

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    • 29 August
      149

      Rupee rises 18 paise to 87.34 as domestic equities support gains amid global risks

      The rupee gained 18 paise to 87.34 against the US dollar in early trade, supported by positive domestic equities. Traders watch US economic data, August 27 tariffs, and Fed signals, while global oil and India’s forex reserves also showed gains. Hyderabad: The rupee appreciated 18 paise to 87.34 against the US dollar in early trade on Monday, supported by positive domestic equities, even as external risks remain elevated. Forex traders said the near-term direction of the rupee will depend on two key events — the implementation of the August 27 tariff and upcoming US economic data ahead of the Federal Reserve’s September 17 meeting. At the interbank foreign exchange, the rupee opened at 87.38, then touched an early high of 87.34,…

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    • 27 August
      243

      Mcap of 8 of top-10 most valued firms jumps Rs 1.72 lakh cr; Reliance biggest winner

      Eight of India’s top-10 most valued firms gained ₹1.72 lakh crore in market valuation last week, led by Reliance Industries. TCS, Airtel, ICICI Bank, Infosys, HUL, LIC, and Bajaj Finance also rose, while HDFC Bank and SBI declined New Delhi: The combined market valuation of eight of the top-10 most valued firms jumped Rs 1,72,148.89 crore last week, with Reliance Industries leading the pack with the maximum gain, in line with a bullish trend in domestic equities. Last week, the BSE benchmark jumped 709.19 points or 0.87 per cent. From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, Infosys, Hindustan Unilever Ltd, Life Insurance Corporation of India (LIC) and Bajaj Finance were the gainers. However, HDFC…

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