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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

    • Jul- 2025 -
      30 July
      317

      Government keeps close watch on TCS job cuts amid tech shift

      The IT Ministry is monitoring TCS’ decision to lay off over 12,000 employees, mostly at mid- and senior levels. The government is focusing on job creation and reskilling as India’s largest IT firm realigns for AI-driven growth and global expansion New Delhi: The IT Ministry is keeping a close watch on the developments after Tata Consultancy Services’ (TCS) decision to lay off over 12,000 employees, according to sources. Employment growth remains a key priority, with sharp focus on how initiatives like Employment Linked Incentive can help boost job creation, they asserted. At the same time, the emphasis is on skilling and reskilling, they added. The IT Ministry is keeping a close watch on the entire situation, and is in touch with…

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    • 30 July
      215

      TCS shares dip as IT major announces 12,000 job cuts

      The move, targeting mainly mid and senior roles, comes as part of TCS’ strategy to become a “future-ready” organisation New Delhi: Shares of Tata Consultancy Services (TCS) declined nearly 2 per cent on Monday after the company announced that it will lay off about 12,000 employees of its global workforce this year. The stock dipped 1.76 per cent to settle at Rs 3,079.05 apiece on the BSE. During the day, it dropped 2 per cent to Rs 3,070. On the NSE, the blue-chip stock went lower by 1.59 per cent to Rs 3,085.80 each. India’s largest IT services firm TCS is set to lay off about 2 per cent, or 12,261 employees, of its global workforce this year, with the majority…

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    • 30 July
      225

      Coal India to hit 1 billion tonne production target by 2026-27: Minister

      The government projects annual coal output growth of 6-7 per cent to reach 1.5 billion tonnes by 2029-30 New Delhi: India’s total coal production has already crossed the 1 billion tonnes (BT) mark in the financial year 2024-25, and the coal output of the country’s largest company, Coal India Limited (CIL), is targeted to cross the 1 billion tonnes mark by 2026-27, the Parliament was informed on Monday. Union Coal and Mines Minister G. Kishan Reddy told the Rajya Sabha, in a written reply, that Coal India Ltd produced 781.07 million tonnes in 2024-25 and the target for 2026-27 has been fixed at 1004.00 billion tonnes. He further stated that most of the requirement of coal in the country is met…

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    • 28 July
      355

      India-UK trade pact to boost seafood exports, create global opportunities

      The agreement promises duty-free access, boosting exports of shrimp, frozen fish, and value-added products New Delhi: With India’s vast production capacity, skilled manpower and improved traceability systems, the India-UK trade pact enables domestic exporters to seize a larger share of the UK market and diversify beyond traditional partners like the US and China, the government said on Saturday. The Comprehensive Economic and Trade Agreement (CETA), signed in the presence of Prime Minister Narendra Modi and his UK counterpart Keir Starmer, marks a turning point for India’s fisheries sector not just by offering duty-free access to a premium market but also by uplifting coastal livelihoods, enhancing industry revenues, and strengthening India’s reputation as a reliable supplier of high-quality, sustainable seafood. “For fisherfolk,…

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    • 28 July
      314

      No plan to levy GST on UPI transactions exceeding Rs 2,000: Centre

      The Centre clarified in Parliament that it is not considering GST on UPI transactions over ₹2,000. Karnataka’s GST notices to traders were issued by the state’s Commercial Tax Department, not the Centre, Minister Pralhad Joshi asserted, accusing the state of misleading the public New Delhi: The government has reiterated that there is no plan to levy goods and services tax (GST) on unified payments interface (UPI)-based transactions exceeding Rs 2,000. Pankaj Chaudhary, Minister of State of Finance, said in the Rajya Sabha that “there is no recommendation of levying GST on UPI transactions of over Rs 2.000 from the GST Council”. Answering a question about whether the government is considering a proposal to levy GST on UPI transactions of over Rs…

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    • 28 July
      287

      Andhra CM Chandrababu Naidu lands in Singapore to woo investors

      Andhra Pradesh CM N. Chandrababu Naidu began a five-day visit to Singapore to attract investments, promote global employment, and strengthen Telugu diaspora ties. His itinerary includes 29 programs focusing on infrastructure, IT, fintech, ports, urban development, and strategic collaborations for Andhra Pradesh’s growth Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu landed in Singapore on Sunday, beginning a five-day official visit to attract investments and strengthen diaspora ties. During this visit, the Chief Minister is scheduled to participate in a total of 29 programmes. Naidu received a grand welcome at Changi Airport from Telugu community members, industrialists, Andhra Pradesh Non-Resident Telugu Society (APNRTS) representatives, and Non-Resident Indians (NRIs). Children performed Kuchipudi dance while women offered traditional harathi (traditional lamp ritual). “Truly…

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    • 28 July
      292

      India-UK FTA boosts services exports and opens doors for professionals

      The India-UK Comprehensive Economic and Trade Agreement (CETA) promises significant gains for services exports, duty-free access to 99% of India’s goods, and enhanced mobility for professionals. It aims to double bilateral trade to $100 billion by 2030 while safeguarding core sectors New Delhi: The India-UK Comprehensive Economic and Trade Agreement (CETA) goes beyond goods and addresses services exports, which are a core strength of India’s economy. Currently, India’s services exports to the UK are a robust USD 19.8 billion, and CETA promises to expand this further with increased mobility for professionals across IT, healthcare, finance, and education. CETA is providing for streamlined entry for contractual service suppliers, business visitors, intra-corporate transferees, and independent professionals (e.g., yoga instructors, chefs, and musicians). Another…

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    • 27 July
      202

      Over 78 pc Indian Railways tracks upgraded for speed of 110 kmph & above

      Earlier, this high-speed section was only 6.3 per cent of the total length, the minister said in a written reply to a question in the Rajya Sabha. New Delhi: Over 78 per cent of railway tracks in the country have now been upgraded for speeds of 110 kmph and above, with the improvement in the Indian Railways network carried out in a big way during the last 10 years, Railways Minister Ashwini Vaishnaw informed Parliament on Friday. The minister said that the measures for track upgradation include the use of 60 kg rails, wider base concrete sleepers, thick web switches, longer rail panels, H Beam sleepers, modern track renewal and maintenance machines, The track length for the highest speed potential of…

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    • 27 July
      180

      Rupee weakens 12 paise to settle at 86.52 against US dollar

      Foreign institutional investors (FIIs) offloaded equities worth Rs 1,979.96 crore on a net basis on Friday, according to exchange data. Mumbai: The rupee declined 12 paise to settle at 86.52 against the US dollar on Friday, tracking negative domestic equity markets and surging global crude oil prices. A strengthening American currency overseas and foreign fund outflows further weighed on the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 86.59 and hit the lowest level of 86.63 against the greenback. The unit touched the intra-day peak of 86.47 before ending the session at 86.52, registering a loss of 12 paise from its previous closing level. On Thursday, the rupee saw some initial recovery but ended…

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    • 27 July
      192

      Indian markets fall for 4th week on weak Q1 earnings, global sentiment

      Private banks like ICICI and HDFC Bank reported steady Q1 earnings. Improved fundamentals and valuations helped PNB Housing Finance and Bajaj Finance. Mumbai: The Indian equity market ended 0.26 per cent lower on a weekly basis, showing decline for the fourth consecutive week, due to subdued Q1 earnings and cautious global sentiment, analysts said on Saturday. The Nifty50 breached the key level of 24,900, and reached 24,837 when the market closed on Friday. FIIs consistently remained net sellers for last five sessions, reflecting broad-based selling pressure. Mid-cap and small-cap indices saw steeper corrections, underperforming the benchmark. “Technically, Nifty is trading below its 20- and 50-day EMAs, indicating a bearish short-term trend. The next immediate support to watch is at 24,750, and if this level breaks,…

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