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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 -
      27 July
      182

      Japan to invest USD 550B in US, Trump claims 90pc profits for America

      “Whatever Donald Trump wants to build, the Japanese will finance it for him,” Lutnick said Thursday on CNBC. “Pretty amazing.” Washington: President Donald Trump is bragging that Japan has given him, as part of a new trade framework, USD 550 billion to invest in the United States. It’s an astonishing figure, but still subject to negotiation and perhaps not the sure thing he’s portraying. “Japan is putting up USD 550 billion in order to lower their tariffs a little bit,” Trump said Thursday. “They put up, as you could call it, seed money. Let’s call it seed money.” He said 90 per cent of any profits from the money invested would go to the US even if Japan had put up…

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    • 26 July
      213

      India-EU FTA talks intensify after UK deal, 12 rounds completed so far

      Aiming for a final deal by end-2025, an interim agreement is being explored as talks progress, with the next round scheduled for September New Delhi: After the successful completion of the India-UK Free Trade Agreement (FTA), all eyes on the trade pact with the European Union (EU) and the Centre on Friday said that India and the EU have been negotiating an FTA since June 2022, and 12 rounds of the negotiations have been completed, with the last being in July 2025. The merchandise exports to the European Union have shown an upward trend over the last five years, increasing from USD 41.36 billion in FY 2020-21 to USD 75.76 billion in FY 2024-25, Minister of State for Commerce and Industry,…

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    • 26 July
      201

      No project delays in Maharashtra due to rare earth shortage: govt

      The Centre told Parliament there are no reports of cost escalations or project delays from industries in Maharashtra, including its key auto and electronics clusters New Delhi: The recent imposition of export restrictions on key rare earth magnets has resulted in supply chain bottlenecks impacting the user industries, including auto and electronics sectors, but there are no reports about cost escalation or project delays from industries in Maharashtra, the Parliament was informed on Friday. In a written reply to a question in the Rajya Sabha, Union Minister of State for Commerce and Industry, Jitin Prasada, said that however, “this Ministry has not received any specific reports regarding cost escalation or project delays due to the shortage of rare earth magnets from…

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    • 26 July
      170

      Inflation, growth outlook to decide future rate cuts, not current CPI data, says Malhotra

      RBI Governor Sanjay Malhotra said rate cuts will depend on inflation and growth outlook, not just current data. He assured that more tools are available to support the economy and ruled out fears of asset bubbles or policy exhaustion Mumbai: With data showing a steep decline in price rise in June, Reserve Bank Governor Sanjay Malhotra on Friday said that the outlook on inflation and growth will determine future rate cuts, making it clear that the current data will not influence the trajectory. Speaking at the FE Modern BFSI Summit here, Malhotra also stated that the RBI’s rate cuts will not lead to asset bubbles and added that the central bank has more ammunition in its arsenal beyond rate cuts to…

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    • 26 July
      184

      India-UK FTA to boost manufacturing, agriculture, services: RBI Governor

      With multilateralism slowing, India is pursuing new trade pacts, including with the US and EU. Nearly 95 per cent of Indian farm goods will get duty-free UK access Mumbai: The India-UK Free Trade Agreement (FTA) should help various sectors in the country, including manufacturing and the services industry, Reserve Bank of India (RBI) Governor Sanjay Malhotra said on Friday. According to the RBI chief, multilateralism has taken a back seat, and India now requires more such free trade agreements with other countries as well. “The UK FTA is the way going forward, because unfortunately, multilateralism appears to have taken a back seat,” Malhotra said at an event here, adding that trade negotiations with the US are also in the advanced stages.…

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    • 25 July
      210

      India, UK ink landmark trade deal to boost annual commerce by USD 34 billion

      The FTA removes most tariffs, boosts jobs, and enhances competitiveness for sectors like textiles, leather, electronics, and jewellery in both nations London: In a historic moment for the India-UK trade and economic ties, Prime Minister Narendra Modi and his British counterpart Keir Starmer on Thursday signed the much-awaited Free Trade Agreement (FTA), which will boost annual bilateral trade by about USD 34 billion. As part of the landmark FTA, India will cut tariffs on 90 per cent of the UK products, while the UK will reduce duties on 99 per cent of Indian exports, significantly cutting tariff lines and regulatory processes across sectors. “Our landmark trade deal with India is a major win for Britain. It will create thousands of British…

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    • 25 July
      184

      Tata Group to expand chipmaking, EVs, digital services, says Chandrasekaran

      the group will scale up operations in semiconductors, EVs, digital platforms, and finance. With new chipmaking and battery initiatives, Tata aims to position India for GenAI and renewable energy leadership New Delhi: Tata Sons Chairman, N Chandrasekaran, has said that the company’s main goal is to scale up its manufacturing excellence in semiconductors, electric vehicles, digital platforms and financial services. In the company’s 2025 annual report, he said that Tata Electronics, which makes an annual revenue of Rs 66,000 crore, is focusing on building a vertically integrated ecosystem for technology hardware and semiconductor manufacturing. The group has begun its semiconductor journey with the 28nm node and plans to build on that foundation toward advanced chipmaking. “Together with TCS, startups, and other…

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    • 25 July
      189

      Adani Energy Solutions posts 71 per cent rise in Q1 PAT, EBITDA hits Rs 2,017 crore

      As EBITDA crossed Rs 2,000 crore. The growth was driven by strong transmission and smart metering performance, with capex rising 1.7 times YoY Ahmedabad: Adani Energy Solutions Ltd (AESL) on Thursday reported solid performance for the April-June quarter (Q1 FY26), clocking a profit after tax (PAT) growth of 71 per cent (year-on-year), as EBITDA crossed the Rs 2,000 crore mark, up 14 per cent. Net profit saw a sharp uptick to Rs 539 crore in the quarter, resulting from a double-digit EBITDA growth, and aided by lower depreciation and lower net tax outgo YoY, the Adani Group company said in a statement. The cash profit of Rs 1,043 crore in Q1 grew by 15 per cent YoY, as EBITDA increased to…

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    • 25 July
      266

      Tesla shares slide as Musk warns of ‘rough quarters’ ahead

      Tesla shares dropped 8% on Thursday after CEO Elon Musk admitted the company could face a “few rough quarters” amid its pivot from car sales to autonomous ride services. The EV maker posted a 12% revenue decline and 16% fall in profits for the quarter. New York:  Tesla shares sank Thursday after CEO Elon Musk said the company could face a “few rough quarters” as it transitions to a future focused less on selling cars and more on offering people rides in self-driving cars. Late Wednesday, the electric vehicle maker reported another quarter of lackluster financial results, with revenue dropping 12 per cent and profit falling 16 per cent. Many prospective buyers have been turned off by Musk’s foray into right-wing politics,…

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    • 24 July
      245

      Silver price hits record Rs 1.14 lakh per kg amid global demand surge

      Silver prices surged to an all-time high of ₹1,14,493 per kg amid strong global trends and domestic demand. Gold also gained sharply. Analysts cite economic uncertainty, industrial demand, and safe-haven interest as key drivers behind the rally. New Delhi: Silver prices continued their upward march, scaling a new all-time high and crossing the Rs 1.14 lakh per kg mark. This significant rally comes amid strong global cues and steady demand in the domestic market. The price of silver increased by Rs 1,028 to Rs 1,14,493 per kilogram on Tuesday, up from Rs 1,13,465 the day before, according to the India Bullion and Jewellers Association (IBJA). With this, silver has broken its previous record high of Rs 1,13,867 per kg, set on…

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