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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 -
      2 August
      180

      Godrej properties’ Q1 Profit Rises 15 per cent, sales booking declines

      The real estate firm’s net profit touched Rs 598 crore, while sales booking fell 18 per cent to Rs 7,082 crore due to a high base effect New Delhi: Godrej Properties Ltd has reported a 15 per cent increase in its consolidated net profit to Rs 598.40 crore for the first quarter of this fiscal, while sales booking fell 18 per cent to Rs 7,082 crore during April-June on a high base effect. Its net profit stood at Rs 518.8 crore in the year-ago period. Total income, however, fell to Rs 1,620.34 crore in the April-June period of 2025-26 fiscal against Rs 1,699.48 crore in the corresponding period of the preceding year, according to a regulatory filing on Friday. On the…

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    • 1 August
      227

      Adani Enterprises Q1 EBITDA from incubating businesses rises 5 per cent to Rs 2,800 crore

      Airports and clean energy led the growth. Overall consolidated EBITDA stood at Rs 3,786 crore, with PBT at Rs 1,466 crore and income at Rs 22,437 crore Ahmedabad: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, on Thursday said that EBITDA from incubating businesses have increased by 5 per cent to Rs 2,800 crore in the April-June quarter (Q1 FY26) on a year-on-year basis — contributing 74 per cent to the quarterly results. The company registered consolidated EBITDA at Rs 3,786 crore and consolidated profit before tax (PBT) at Rs 1,466 crore – with total income at Rs 22,437 crore — in the quarter ended June 30. “Adani Enterprises has established itself as one of the world’s most…

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    • 1 August
      161

      Income Tax Department raids Nuvama Wealth offices in Jane Street probe

      This follows SEBI’s ban on Jane Street for allegedly disrupting the derivatives segment. The ongoing investigation is a significant enforcement action in India’s capital markets, impacting index options activity Mumbai: The Income Tax Department on Thursday launched search operations at the offices of Nuvama Wealth and Investment Limited, formerly known as Edelweiss Broking, in connection with the ongoing probe into the Jane Street matter. As per multiple reports, the raids were ongoing at the offices; however, the company is yet to respond to the matter. Nuvama was Jane Street’s on-ground trading partner in India. The case is being seen as one of the biggest enforcement actions in India’s capital markets in recent years. Earlier this month, market regulator SEBI barred New…

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    • 1 August
      205

      India’s economy is ‘dead,’ only PM and FM don’t know says Rahul Gandhi

      Congress leader Rahul Gandhi attributed this to BJP’s policies, further claiming a US trade deal will be dictated by Trump. Gandhi also criticised the government’s handling of foreign policy and its alleged impact on India’s global standing New Delhi: Congress leader Rahul Gandhi on Thursday said everybody except Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman know that India is a “dead economy”, as he alleged that the BJP-led government has destroyed India’s economic, defence and foreign policies. Speaking with reporters in the Parliament House complex, Gandhi also claimed that a trade deal with the US will happen and Trump will define it, while Prime Minister Modi will do what the American President tells him to do. Gandhi’s remarks came…

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    • 1 August
      199

      Trump announces trade deal with Pakistan to develop unexplored oil reserves

      Trump Pakistan oil deal, Trump tariffs India 2025, US-India trade war, Trump BRICS criticism, Pakistan offshore oil reserves, India US trade tensions, Trump Truth Social news, 25% tariff on Indian goods, US Pakistan energy cooperation, Trump foreign trade policy New York/Washington: US President Donald Trump has announced sealing a trade deal with Pakistan and said that Washington will work with Islamabad to develop what he described as the South Asian nation’s “massive oil reserves”. It is not immediately clear what massive oil reserves in Pakistan Trump was referring to. In a social media post, the US President also wondered if Pakistan could sell oil to India “some day”. “We have just concluded a deal with the country of Pakistan, whereby Pakistan…

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    • Jul- 2025 -
      31 July
      202

      SEBI has mechanisms to address conflict of interest, says Minister

      SEBI has internal mechanisms to address conflict of interest, including a disclosure and recusal framework, the Centre told Parliament. A high-level committee has been set up to review and strengthen regulations under new Chairperson Tuhin Kanta Pandey’s leadership New Delhi: The Securities and Exchange Board of India (SEBI) has adequate internal mechanisms for addressing issues relating to conflict of interest, which include a disclosure framework and provisions for recusal, the Parliament was informed on Tuesday. Replying to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said that to further strengthen this framework, the SEBI has set up a high-level committee to review and make recommendations for enhancing the existing framework for managing conflicts of interest, disclosures…

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    • 31 July
      183

      Black Money Act: Govt raises Rs 35,104 crore in tax and penalties over 10 years

      The government has raised over Rs 35,000 crore in tax and penalty demands under the Black Money Act since 2015, but recovered only Rs 338 crore. No country-specific data is maintained, and 163 prosecutions have been filed till March 2025 New Delhi: The government has raised a tax demand of Rs 21,719 crore as a result of assessments completed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (during July 1, 2015 to March 31, 2025), the Parliament was informed on Tuesday. In addition, demand of Rs 13,385 crore has been raised (till March 31, 2025) on account of penalties imposed under various sections of Black Money (Undisclosed Foreign Income and Assets) and Imposition of…

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    • 31 July
      175

      Apple powers India past China as top smartphone exporter to US in April–June

      India overtook China as the top exporter of smartphones to the US in Q2 2025, thanks to Apple’s strategic shift in manufacturing. “Made-in-India” devices accounted for 44 per cent of imports, with Apple’s iPhone 16 Pro models driving the growth New Delhi: The share of US smartphone shipments assembled in China shrank from 61 per cent in Q2 2024 to 25 per cent in Q2 2025 and most of this decline has been picked up by India, according to a new report. The total volume of “Made-in-India” smartphones grew 240 per cent year on year, and now accounts for 44 per cent of smartphones imported into the US, up from only 13 per cent of smartphone shipments in Q2 2024, according…

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    • 31 July
      195

      New UPI rules from August 1 to cap balance checks, auto-pay timings and more

      The NPCI will enforce new UPI rules from August 1, limiting balance checks, restricting auto-pay timings, and capping reversal requests. The changes aim to ease network congestion, enhance transaction security, and improve the user experience across payment apps Mumbai: Starting August 1, using UPI will come with a set of new rules aimed at improving transaction speed, reducing system load, and making payments safer. The National Payments Corporation of India (NPCI) has issued fresh guidelines for all members of the UPI ecosystem, including banks and payment apps, which must be implemented by July 31. One of the major changes is a cap on how many times users can check their account balance through a UPI app. From next month, each app…

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    • 30 July
      295

      Kinetic re-enters two-wheeler market with electric DX scooter

      Kinetic Engineering has re-entered the two-wheeler segment with the launch of its iconic Kinetic DX in an electric avatar. Priced from Rs 1.11 lakh, the scooter offers a 116 km range as the company plans major investments and dealership expansion New Delhi: Kinetic Engineering on Monday announced its re-entry into the two-wheeler space and said it aims to invest around Rs 177 crore over the next 18 months to scale up sales network and ramp up production. The Pune-based firm, which used to produce and sell the iconic scooter Kinetic DX from 1984 till 1998, aspires to be among the leaders in the electric two-wheeler space over the next three years. The company on Monday launched Kinetic DX scooter in an…

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