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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 -
      8 August
      189

      Infosys launches advanced AI and space tech centre in Hubballi

      Infosys has inaugurated a new Centre for Advanced AI, Cybersecurity, and Space Technology in Hubballi, Karnataka. Part of its global Living Labs network, the facility enhances digital innovation and pushes its local workforce beyond 1,000 employees New Delhi: IT major Infosys on Wednesday announced the inauguration of a new Centre for Advanced AI, Cybersecurity, and Space Technology at its Hubballi development centre in Karnataka, a move that establishes the city as a key technology hub for the company and takes its local employee strength to over 1,000. The centre was inaugurated by Karnataka’s Minister for Large & Medium Industries and Infrastructure Development, M B Patil, and Minister for Electronics, IT & Biotechnology, Priyank Kharge. The new centre is part of the…

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    • 7 August
      339

      Anil Ambani grilled by ED for 9 hours in Rs 17,000-crore loan fraud case, to be called again

      According to sources, Reliance Group Chairman sought to deny any involvement in the case, maintaining that all the financial decisions were taken by the internal board of his companies New Delhi: After a gruelling around nine-hour interrogation regarding an alleged Rs 17,000-crore loan fraud case, Reliance Group Chairman Anil Ambani finally left the Enforcement Directorate (ED) headquarters here on Tuesday. After the first round, the regulator is set to call Anil Ambani again for questioning in a couple of days, according to sources. Reliance Group Chairman has reportedly sought 7-10 days from the probe agency to submit documents related to the alleged scam. The 66-year-old industrialist was summoned to the ED headquarters in New Delhi, where his statement was recorded under the Prevention…

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    • 7 August
      263

      Trump says he will raise tariffs on India substantially in next 24 hours

      New Delhi calls the threat of additional tariffs “unjustified and unreasonable” Washington: US President Donald Trump on Tuesday said that he is going to further raise tariffs on India in the next 24 hours, after announcing 25 per cent tariffs from August 7. In an interview with CNBC, Trump said he will raise tariffs on India, revising the earlier settled rate of 25 per cent. “India has the highest tariffs. We do very little business with India. We settled on 25 per cent, but I think I am going to raise that substantially within the next 24 hours,” the US President was quoted as saying. He claimed that India is buying Russian oil and fuelling the Russian war machine. This comes a day…

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    • 7 August
      222

      India saw over 84,000 gaming accounts leaked in 2024: Kaspersky report

      Over 84,000 gaming account credentials were leaked in India in 2024, according to cybersecurity firm Kaspersky. The Asia-Pacific region leads globally in gaming-related data breaches, with over 11 million accounts exposed worldwide amid rising mobile and digital penetration Da Nang (Vietnam): Over 84,000 online gaming account user details were leaked in India in 2024, the global cybersecurity and digital privacy company Kaspersky on Tuesday said. The maximum number of leaks of gaming account user details was witnessed in Thailand, the minimum such instances were in Singapore in the Asia-Pacific (APAC)Region, it said. The APAC region has emerged as the global epicentre of gaming, with more than half of the world’s gamers based here. Markets such as China, India, Japan, South Korea, and…

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    • 7 August
      343

      ITR verification must be completed in 30 days to avoid invalidation, warn experts

      Income tax returns filed online must be verified within 30 days, or they will be considered invalid. With the AY25-26 deadline set for September 15, tax experts urge users to complete the e-verification step to ensure their returns are processed New Delhi: Income tax returns must be verified within 30 days of being uploaded online and the process of filing return does not stop when the return is submitted on the official e-filing website (www.incometax.gov.in), according to experts. ITRs filed without e-verification will be treated as invalid. With less than two months remaining before the extended deadline for filing income tax returns for the assessment year 2025-26 on September 15, many individual taxpayers have completed the process, said experts. If you…

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    • 5 August
      253

      Hyderabad-based Aurobindo Pharma’s Q1 net profit falls 10 per cent to Rs 824 crore

      The company has declared an interim dividend of Rs 4 per equity share, to be paid on or before August 21 Mumbai: Aurobindo Pharma Limited on Monday reported a 10.2 per cent year-on-year (YoY) drop in consolidated net profit to Rs 824.2 crore for the first quarter (Q1) of FY26, compared to Rs 918.2 crore in the same period the previous year (Q1 FY25). The pharmaceutical company’s revenue rose 4 per cent YoY to Rs 7,868 crore from Rs 7,567 crore in the year-ago period, according to its stock exchange filing. Operating profit remained largely stable, with EBITDA slipping 1 per cent to Rs 1,603 crore from Rs 1,619.6 crore. The EBITDA margin narrowed to 20.3 per cent from 21.4 per cent a…

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    • 5 August
      228

      Will substantially raise tariffs on India over Russian oil purchase, says Trump

      The US President had mounted a sharp attack on India and Russia for their close ties and said the two countries can take their “dead economies down together” New York/Washington: US President Donald Trump on Monday said he will “substantially” raise tariffs paid by India to America, accusing the country of buying massive amounts of Russian oil and selling it for big profits. “India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits,” Trump said in a social media post. “They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising…

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    • 5 August
      237

      Tesla to open 2nd India showroom in Delhi’s Aerocity on August 11

      The Aerocity facility, currently in the final stages of construction, is expected to command a monthly rent of around Rs 25 lakh New Delhi: Tesla is set to expand its presence in India’s electric vehicle market with the launch of its second retail outlet in the country. The new Tesla Experience Centre will open on August 11 at Aerocity’s upscale Worldmark 3 complex in the national capital, catering to customers in the national capital region — a key hub for India’s electric mobility push. This opening comes less than a month after Tesla inaugurated its first showroom in Mumbai on July 15 at the Maker Maxity mall in Bandra Kurla Complex. The high-profile Mumbai launch was attended by Maharashtra Chief Minister Devendra Fadnavis,…

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    • 5 August
      243

      Tesla awards CEO Musk USD 29 billion stock months after court scraps pay

      Tesla awarded Elon Musk $29 billion worth of stock, months after a court struck down his earlier $56 billion pay. The new shares match terms of the old plan. Musk has appealed, and Tesla is reviewing his compensation Washington: Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately USD29 billion, just six months after a judge ordered the company to revoke his massive pay package. The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla USD 23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company’s CEO. In December, Delaware…

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    • 4 August
      388

      Centre slashes prices of 35 key medicines to boost affordability

      The NPPA has cut retail prices of 35 essential medicines, including antibiotics, anti-diabetics, and cardiovascular drugs, to make healthcare more affordable. Retailers must comply or face penalties under DPCO and the Essential Commodities Act New Delhi: In a move to make medicines more affordable for patients, the National Pharmaceutical Pricing Authority (NPPA) has reduced the retail prices of 35 essential drugs sold by leading pharmaceutical companies. The formulations, which will now cost less, span a wide range of medicines including anti-inflammatory, cardiovascular, antibiotic, anti-diabetic and psychiatric medicines. The Ministry of Chemicals and Fertilisers notified the order based on price regulation by the NPPA. The price reductions, which apply across drugs, are expected to bring relief to consumers, particularly those managing chronic…

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