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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 -
      21 July
      249

      PNGRB orders city gas firms to charge uniform PNG rates for households

      Oil regulator PNGRB has directed city gas distributors to charge a uniform rate for piped natural gas supplied to households, regardless of consumption. The move seeks to prevent misclassification of commercial users as domestic consumers and ensure fair pricing New Delhi: Oil sector regulator Petroleum and Natural Gas Regulatory Board (PNGRB) has ordered city gas retailers to charge a uniform price for natural gas they pipe to household kitchens for cooking purposes, regardless of consumption levels, as it looks to curb the tendency of companies to charge a higher rate beyond a usage threshold. The government allocates natural gas priced at lower than market rates, called APM gas, to city gas retailers for sale to households as piped natural gas (PNG).…

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    • 21 July
      230

      India becomes global leader in fast payments as UPI processed over Rs 24 lakh crore transactions in June 2025

      India leads the world in fast payments, with UPI processing over Rs 24 lakh crore in June 2025 alone. Backed by the IMF, the system handles over 640 million daily transactions, revolutionising global digital payments and promoting financial inclusion New Delhi: India has emerged as the global leader in fast payments, as UPI processed over Rs 24.03 lakh crore in payments through 18.39 billion transactions in June, according to a note by the International Monetary Fund (IMF) on Sunday. In June last year, 13.88 billion UPI transactions were done, while 18.39 billion in the same period this year, marking a sharp 32 per cent year-on-year (YoY) growth. Today, UPI powers 85 per cent of all digital transactions in India and nearly…

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    • 21 July
      274

      Ashok Leyland charts strategic course amid industry disruption, says Chairman Hinduja

      Ashok Leyland plans to adopt a proactive strategy to navigate global megatrends like electrification and supply chain disruption. Chairman Dheeraj G Hinduja said the company will invest in EVs, forge tech partnerships, and deepen international market presence New Delhi: Ashok Leyland will follow a proactive approach to navigate emerging global and industry trends including electrification and supply chain challenges as it remains in hunt to be among the world’s leading commercial vehicle manufacturers, according to Chairman Dheeraj G Hinduja. In his address to shareholders in the company’s Annual Report for 2024-25, he noted that the commercial vehicle and mobility sectors are undergoing profound transformation. Electrification is accelerating, even as alternative propulsion technologies such as LNG and hydrogen-powered vehicles are moving from…

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    • 21 July
      342

      Gold may stay in narrow band as markets await Fed, macro cues

      Gold prices are expected to stay range-bound amid global trade uncertainty, key US macroeconomic data, and central bank cues. While domestic festive demand may offer support, a stronger US dollar and volatility persist. Silver surged on tightening supply and industrial demand New Delhi: Gold prices are likely to remain range-bound in the coming week as investors await clarity on global trade negotiations, upcoming US macroeconomic data and signals from the Federal Reserve, analysts said. Traders will closely watch Fed Chair Jerome Powell’s speech and global PMI data from major economies, including the US, UK and Eurozone. The European Central Bank’s interest rate decision will also be closely tracked for cues on the bullion price trajectory, they said. Pranav Mer, Vice President,…

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    • 20 July
      247

      ED summons Meta, Google over illegal betting platforms

      The Enforcement Directorate has summoned Meta and Google officials in a money laundering probe tied to illegal betting platforms. The agency wants to examine how such platforms place ads on digital outlets New Delhi: The Enforcement Directorate has summoned representatives of tech giants Meta and Google as part of a money laundering investigation against a number of illegal online betting platforms, official sources said Saturday. The executives have been asked to depose before the agency on July 21 here and get their statements recorded under the Prevention of Money Laundering Act (PMLA), they said. There was no immediate response from the two companies. The federal agency is probing multiple platforms hosting illegal betting and gambling links, including instances of advertisements placed for them…

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    • 20 July
      187

      Sri Lanka seeks tariff relief from US to safeguard rubber exports

      Sri Lankan rubber exporters are urging the US to cut Trump-era tariffs to 15–20 per cent to stay competitive with Indonesia. A government delegation is in Washington negotiating relief as the current 30 per cent duty threatens USD300 million in annual exports Colombo: Ahead of the August 1 deadline for further negotiations on the tariffs imposed by the Trump administration, the Sri Lankan rubber exporters said they faced the threat of losing the US market unless a better deal was worked out. Kamal Silva, a spokesman for the exporters, said the tariff must be kept between 15 and 20 per cent to retain their edge over regional competitors.“Indonesia has gained a clear advantage already as Sri Lanka with the current 30…

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    • 20 July
      147

      Made-in-India Galaxy Z Foldables Clock 2.1 Lakh Pre-Orders in 48 Hours

      Samsung’s seventh-generation foldable smartphones — Galaxy Z Fold7 and Flip7 — received a record 2.1 lakh pre-orders in India within 48 hours. The company credits young Indian consumers for rapidly adopting its Made-in-India, AI-powered foldable technology New Delhi: Made in India’s Samsung Galaxy Z Fold7, Galaxy Z Flip7 and Galaxy Z Flip7 FE smartphones have received record pre-orders in India, the company said on Saturday. The newly-launched seventh generation of foldable smartphones secured 210,000 pre-orders in the first 48 hours, breaking previous records, and nearly equaling the pre-orders received for Galaxy S25 series earlier this year, said the company in a statement. JB Park, President and CEO, Samsung Southwest Asia, said “The record pre-orders for our Made in India foldable smartphones…

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    • 20 July
      172

      India, US aim for interim trade deal after fifth round of talks

      India and the United States concluded the fifth round of negotiations for a proposed bilateral trade agreement in Washington. Talks focused on tariffs, agriculture, and key sectors, with both sides aiming to finalise an interim deal before the August 1 deadline New Delhi: India and the US teams have concluded the fifth round of talks for the proposed bilateral trade agreement (BTA) in Washington on July 17, an official said. The negotiations were held for four days (July 14-17) in Washington. “The Indian team is coming back,” the official said. India’s chief negotiator and special secretary in the department of commerce Rajesh Agrawal leads the team for negotiations. These deliberations are important as both sides are looking at finalising an interim…

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    • 19 July
      206

      Hyderabad-based Dodla Dairy acquires Osam Dairy for Rs 271 cr

      The acquisition gives Dodla a strong foothold in the high-growth eastern market and accelerates its pan-India ambitions New Delhi: South India-based Dodla Dairy on Friday announced the acquisition of eastern India’s premium dairy brand Osam Dairy for Rs 271 crore, marking a significant expansion into the high-growth eastern market. The 100 per cent acquisition of Osam Dairy represents one of the first large-scale deals in eastern India’s dairy sector and underscores the region’s potential to attract institutional capital, the companies said in a joint statement. “We are thrilled to announce the proposed acquisition of Osam, marking a significant milestone in Dodla’s journey. This strategic move underscores our commitment to becoming a pan-India dairy company,” Dodla Dairy Managing Director Dodla Sunil Reddy…

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    • 19 July
      216

      Reliance Retail acquires Kelvinator for Rs 160 crore, targets premium appliances market

      The company aims to integrate Kelvinator’s legacy with its retail strength to offer high-quality global products to Indian households New Delhi: Reliance Retail on Friday announced the acquisition of consumer durables brand Kelvinator in a bid to accelerate its growth in the rapidly expanding premium home appliances market across India. The company, however, did not disclose the financial details of the transaction. The acquisition is poised to significantly amplify the company’s leadership in India’s fast-growing consumer durables sector, Reliance Retail said in a statement. “The acquisition of Kelvinator marks a pivotal moment, enabling us to significantly broaden our offering of trusted global innovations to Indian consumers. This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network,” Reliance Retail…

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