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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 -
      24 July
      417

      Hyderabad-based Natco Pharma offers to acquire nearly 36 per cent stake in Adcock Ingram in Rs 2,100-crore deal

      Should the offer be accepted, the company will hold a 35.75 per cent stake in the South Africa firm, valued at R4 billion (USD 226 million), the company stated in a regulatory filing New Delhi: Natco Pharma on Wednesday said it has offered to acquire nearly 36 per cent stake in South African drug firm Adcock Ingram Holdings for up to Rs 2,100 crore in a cash deal. The Hyderabad-based firm said it has submitted a firm intention offer to Adcock Ingram Holdings to buy out minority shareholders for a cash offer of R75 (USD 4.271) per share. Should the offer be accepted, the company will hold a 35.75 per cent stake in Adcock Ingram, valued at R4 billion (USD 226…

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    • 24 July
      193

      Infosys net profit up 8.7 per cent to Rs 6,921 crore in Q1 of FY26

      The IT company said it is on track to hire 20,000 freshers this fiscal year Bengaluru: Infosys Ltd on Wednesday reported an 8.7 per cent rise in its June quarter net profit and narrowed its full-year revenue forecast after stronger-than-expected earnings growth. Consolidated net profit stood at Rs 6,921 crore in April-June — the first quarter of 2025-26 fiscal year — compared with Rs 6,368 crore earnings in the same period a year ago, according to a company statement. Revenue from operations at Rs 42,279 crore was higher 7.53 per cent year-on-year and 3.3 per cent quarter-on-quarter, on the back of strong performance in AI and deal wins. Net profit, howeve,r fell 1.5 per cent sequentially when compared with the January-March quarter. “Our…

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    • 23 July
      305

      India’s smartphone market grows 7 pc to reach 39 million units in April-June

      India’s smartphone market grew 7 per cent year-on-year in Q2 2025, reaching 39 million units. Driven by fresh launches and easing inventory, Vivo led the market. Brands are now preparing for festive season sales with incentives and financing schemes. New Delhi: Driven by easing inventory challenges and renewed vendor activity, India’s smartphone market rebounded in the April-June period, growing 7 per cent year to reach 39 million units, according to a new report. The growth was primarily fuelled by fresh launches concentrated in the second quarter, following a cautious Q1 where vendors held back due to elevated inventory levels, according to Canalys (now part of Omdia). “Heightened competition beyond the top five is reshaping India’s smartphone landscape, as premium incumbents and…

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    • 23 July
      335

      Colgate Palmolive India’s net profit falls 11.8 pc, net sales decline

      Colgate-Palmolive India reported an 11.8% YoY decline in Q1 FY26 net profit to Rs 321 crore, citing weak urban demand and rising competition. The company is focusing on premium products and innovation to drive recovery in the second half Mumbai: Colgate-Palmolive India on Tuesday reported an 11.8 per cent year-on-year (YoY) decline in its net profit to Rs 321 crore for the April–June quarter of FY26 (Q1 FY26), compared to Rs 364 crore in the corresponding period of the previous fiscal (Q1 FY25). The company’s net sales also fell by 4.4 per cent, dropping from Rs 1,486 crore in Q1 FY25 to Rs 1,421 crore this quarter, according to a filing with the stock exchanges. Revenue from operations declined by 4.3…

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    • 23 July
      254

      Rising digital fraud: Centre pushes for 1600-series call adoption, pilot with 7 banks underway

      The ‘1600’ series is a phone numbering range exclusively designated for all voice calls originating from regulated entities in the banking, financial services, insurance (BFSI), and securities sectors  New Delhi: In a bid to tackle rising digital payment-linked fraud and misuse of telecom infrastructure, the government on Tuesday deliberated upon how to fast-track the implementation of the ‘1600’ mobile series. The Telecom Regulatory Authority of India (TRAI) met the Joint Committee of Regulators (JCoR) in the national capital and discussed rolling out collaborative regulatory measures. The ‘1600’ series is a phone numbering range exclusively designated for all voice calls originating from regulated entities in the banking, financial services, insurance (BFSI), and securities sectors. At the meeting, regulators discussed setting up timelines…

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    • 23 July
      287

      SBI Krishi Darshan and other CSR activities flagged off at ICAR-IIRR

      The project aims to promote Direct Seeded Rice practice for sustainable rice production and improve farmers’ income in Khammam and Nalgonda districts Hyderabad: The SBI Foundation has launched its CSR project on promotion of Direct Seeded Rice (DSR) for sustainable rice production at the ICAR-Indian Institute of Rice Research (ICAR-IIRR) here on Monday. The foundation Managing Director, Sanjay Prakash, launched the project formally. The project aims to promote DSR practice for sustainable rice production and improve farmers’ income in Khammam and Nalgonda districts. Two vehicles, ‘SBI Kisan Sarathi’ and ‘SBI Krishi Darshan’, were also flagged off to support DSR training activities. While Kisan Sarathi provides free transportation for farmers to attend trainings at ICAR-IIRR and KVKs, the ‘Krishi Darshan’ is a…

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    • 22 July
      214

      UIDAI to begin biometric update of children through schools soon

      UIDAI will launch a phased initiative to update Aadhaar biometrics of children via schools, targeting over 7 crore pending updates. With parental consent, biometric kits will be sent to districts and rotated across schools for easy access New Delhi: The UIDAI is working on a project to start biometric updates of children through schools after two months in a phased manner, a top official of the Aadhaar custodian body said. The Unique Identification Authority of India CEO, Bhuvnesh Kumar told PTI that over 7 crore children have not updated their biometrics for Aadhaar which is mandatory after attaining the age of 5 years. “UIDAI is working on a project to start updating the biometrics of children with parental consent through schools.…

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    • 22 July
      195

      Reliance shares drop nearly 3 pc post Q1 earnings

      Reliance Industries shares fell nearly 3% on Monday due to profit-taking, despite posting a record quarterly profit of ₹26,994 crore in April-June 2025. Strong performances in Jio and retail drove growth, aided by investment sale proceeds and consumer expansion New Delhi: Shares of Reliance Industries on Monday morning declined nearly 3 per cent largely as profit-taking emerged in the counter after the company announced its April-June quarter earnings. The bellwether stock edged lower by 2.70 per cent to Rs 1,436.85 on the BSE. At the NSE, the stock dropped 2.64 per cent to Rs 1,437 apiece. “RIL’s Q1 numbers are steady with Jio and retail posting good results,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said. India’s most valuable…

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    • 22 July
      180

      Anthem Biosciences’ stock jumps nearly 27 pc in market debut trade

      Anthem Biosciences shares debuted with a 27% premium over the IPO price of ₹570, listing at ₹723 on Monday. The ₹3,395-crore IPO, subscribed 63.86 times, saw strong institutional interest. Anthem is a CRDMO specializing in complex fermentation-based APIs New Delhi: Shares of Anthem Biosciences Ltd listed with a premium of nearly 27 per cent against the issue price of Rs 570 on Monday. The company’s stock started trading at Rs 723.10, surging 26.85 per cent from the issue price on the BSE. Later, it jumped 31 per cent to Rs 746.70. At the NSE, the stock listed at Rs 723.05, rallying 26.85 per cent. The company’s market valuation stood at Rs 40,716.73 crore. The Rs 3,395-crore initial public offer of Anthem…

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    • 22 July
      324

      CoinDCX hit by USD 44 million breach; says customer assets safe

      CoinDCX has reported a USD 44.2 million security breach linked to an internal operational account. Founders assured users their funds remain unaffected. The company is bearing the entire loss and has launched a forensic investigation with global cybersecurity firms New Delhi: Indian cryptocurrency exchange CoinDCX has suffered a security breach, resulting in theft of USD 44.2 million (approximately Rs 378 crore), or Rs 378 crore, even as the founders took to X to reassure that customer funds remained unaffected and safe, with the compromise limited to an internal operational account. The total exposure is being absorbed entirely by CoinDCX, using the company’s treasury reserves, the company said in a First Incident Report released on Sunday. According to the report, on July…

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