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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 -
      4 August
      214

      India may lose $11 bn if forced to cut Russian oil amid US sanctions

      India may face a $9–11 billion spike in oil import costs if US penalties force it to cut Russian crude. With EU sanctions also tightening, refiners like Reliance and Nayara could lose margins, affecting inflation and fuel pricing. New Delhi: India’s annual oil import bill could rise by USD 9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said. India, the world’s third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted Russian crude following Western sanctions on Moscow after its invasion of Ukraine in February 2022. Russian oil, which accounted for less than 0.2 per cent…

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    • 4 August
      239

      RBI may cut repo rate by 25 bps in August MPC meet: SBI Research

      SBI Research expects the RBI to cut the repo rate by 25 basis points in August, citing soft inflation, early festive demand, and global headwinds. It warns against delayed action that may miss the current policy window Mumbai: RBI is expected to cut 25 bps in repo rates in light of soft inflation and global uncertainties, aiming to reinforce growth momentum while it has a policy window, a report said on Saturday We expect the RBI to continue frontloading with a 25 basis point cut at its August MPC meeting. Tariff uncertainty, better GDP growth and CPI numbers in FY27 are all frontloaded, SBI Research said in a report. A frontloaded rate cut in August could bring an “early Diwali” by…

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    • 4 August
      238

      No pause on Russian oil imports, say govt sources after Trump’s claim

      Indian government sources clarified on Saturday that there is no pause in Russian oil imports, countering President Trump’s claim. They said India’s energy decisions are based on national interest and market prices, with no halt reported by Indian refiners. New Delhi: After US President Donald Trump claimed that India has stopped purchasing Russian oil, government sources on Saturday clarified there is no such pause on the oil imports from Russia. According to government sources, “India’s energy purchases are driven by national interests and market forces. We do not have any reports of Indian oil firms halting Russian imports”. There was, however, no official statement from the Ministry of External Affairs (MEA) on Trump’s statement. “I understand that India is no longer…

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    • 3 August
      193

      RBI likely to hold repo rate steady in August MPC meet: HSBC report

      The Reserve Bank of India is expected to maintain the status quo on repo rates in the August 6 MPC meet, as per HSBC Global Investment Research. The report projects 7 per cent GDP growth in upcoming quarters despite inflation and corporate margin pressures New Delhi: The Reserve Bank of India (RBI) is projected to keep repo rates unchanged in the upcoming Monetary Policy Committee (MPC) meeting on August 6, a report said on Friday. Amid global market uncertainties and tariff concerns, India’s GDP is projected to be 7 per cent in the upcoming three quarters, higher than current estimates, according to the report from HSBC Global Investment Research. Analysts believe that the GDP deflator has too much WPI inflation in…

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    • 3 August
      208

      Reliance Power, Infra hit lower circuit as ED summons Anil Ambani in money laundering case

      Shares of Reliance Power and Reliance Infrastructure hit their lower circuit limits after the ED summoned Chairman Anil Ambani in a money laundering probe. The case involves alleged loan diversions exceeding Rs 17,000 crore across his group companies New Delhi: Shares of Reliance Power and Reliance Infrastructure hit their respective lower circuit limits on Friday amid reports that the Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning on August 5 in a money laundering case. The stock of Reliance Power tumbled 5 per cent to Rs 50.21 — its lower circuit limit — on the BSE. Shares of Reliance Infrastructure also dropped 5 per cent to hit the lowest trading permissible limit for the day of Rs 311.60.…

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    • 3 August
      147

      NSDL IPO subscribed 15x on final day; NIIs lead the charge

      NSDL’s IPO was oversubscribed 15 times on the final day, driven by strong interest from NIIs and retail investors. The grey market premium rose to Rs 937. Share allotment is on August 2, and listing is set for August 6, 2025 Mumbai: On its third and final day of public bidding on Friday, the National Securities Depository Ltd’s (NSDL) IPO attracted strong investor interest, with IPO subscriptions exceeding 15 times its offer size. According to the NSE data, bids for approximately 54 crore shares were received in the company’s first public issue, exceeding the offer size of 3.51 crore. Non-institutional investors (NII) led the subscription race, overbooking their reserved section nearly 20 times. Employees booked their reserved portion nearly 10 times,…

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    • 3 August
      182

      Gold falls Rs 400 to Rs 97,620 per 10g; silver drops Rs 2,500 amid global cues

      Gold prices dipped Rs 400 to Rs 97,620 per 10 grams in Delhi, tracking weak global cues and persistent selling by stockists. Silver prices tumbled Rs 2,500 to Rs 1,09,500 per kg as investor sentiment weakened due to US Fed’s hawkish stance New Delhi: Gold prices dipped Rs 400 to Rs 97,620 per 10 grams in the national capital on Friday due to continuous selling by stockists, according to the All India Sarafa Association. The yellow metal of 99.9 per cent purity had closed at Rs 98,020 per 10 grams in the previous market session. In the national capital, gold of 99.5 per cent purity dipped by Rs 300 to Rs 97,500 per 10 grams (inclusive of all taxes) on Friday…

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    • 2 August
      215

      Manish Tewari alleges “disaster” in Air India’s management, calls for government takeover

      Congress MP Manish Tewari has called for the government to take back Air India from the Tata Group, citing poor management and safety concerns. His comments come after a London-bound flight was delayed and a DGCA audit flagged 51 safety lapses at the airline New Delhi: Congress MP and former I& B Minister Manish Tewari on Friday said that the government should take Air India back from the Tata Group “as they have run the airline into the ground”. “The Airline is a complete management mess. There are hardly any competent aviation professionals running Air India. The privatisation has been a disaster,” Tewari wrote on X. “Flights cancelled at the drop of a hat, flights delayed without any explanation whatsoever,” he…

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    • 2 August
      195

      Financial turbulence for Ola electric as sales drop by 57 per cent

      Amid stiff competition and user complaints, the company’s stock price and market capitalisation have also plummeted. The firm reported a Q1 FY26 net loss, signaling a challenging financial period Mumbai: Ola Electric, once the leader in India’s electric two-wheeler market, is seeing its dominance fade fast as the company sold 17,848 units in July — a steep 57.29 per cent drop from 41,802 units sold a year ago, the government’s VAHAN data showed on Friday. The Bhavish Aggarwal-led company’s market share dropped to 17.35 per cent in July, compared to 38.83 per cent in the same month previous year. This decline has badly hit Ola Electric’s market value. Its market capitalisation has fallen by more than 45 per cent, from Rs…

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    • 2 August
      183

      Tata Motors sales dip in July

      Wholesales decline 4 per cent year-on-year, driven by a slump in passenger vehicle dispatches; commercial vehicle sales show a 7per cent jump New Delhi: Tata Motors on Friday said its total wholesales dipped 4 per cent year-on-year to 69,131 units last month as compared with 71,996 units in July 2024. The company’s total domestic dispatches declined 12 per cent to 39,521 units last month against 44,725 units in July last year, the auto major said in a statement. Total passenger vehicle sales declined 11 per cent to 40,175 units last month from 44,954 units in July 2024. Total commercial vehicle sales stood at 28,956 units in July, a jump of 7 per cent as compared with 27,042 units a year ago.

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