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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 -
      16 July
      297

      Wholesale inflation dips into negative territory on food, fuel deflation

      India’s wholesale price inflation entered the negative zone in June 2025 after 19 months, declining by 0.13 per cent due to falling food and  fuel prices New Delhi: Wholesale price inflation (WPI) turned negative after a gap of 19 months, declining 0.13 per cent in June as deflation widened in food articles and fuel, along with softening in manufactured product costs, government data showed on Monday. WPI-based inflation was 0.39 per cent in May. It was 3.43 per cent in June last year. “Negative rate of inflation in June, 2025 is primarily due to decrease in prices of food articles, mineral oils, manufacture of basic metals, crude petroleum & natural gas etc,” the industry ministry said in a statement. As per WPI data,…

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    • 16 July
      269

      NSE becomes world’s fourth-largest exchange by fundraising

      This strong performance comes at a time when expectations are rising for NSE’s own public listing — a long-anticipated move that could mark a historic moment in India’s capital markets Mumbai: The National Stock Exchange (NSE) has emerged as the fourth-largest exchange in the world in terms of IPO fundraising during the first half of calendar year 2025, a new report said on Monday. NSE raised USD 5.51 billion through initial public offerings in the six-month period, accounting for 8.9 per cent of the total global IPO fundraising of USD 61.95 billion, according to data compiled by S&P Global Market Intelligence. The top three positions on the global IPO league table were taken by the Nasdaq Global Market, NYSE, and the…

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    • 16 July
      283

      Jane Street deposits Rs 4,843 crore in escrow, asks Sebi to lift restrictions

      US hedge fund Jane Street has deposited Rs 4,843.57 crore in an escrow account in compliance with Sebi’s interim order. It has now requested that certain market restrictions be lifted. Sebi is currently examining the plea as part of due process New Delhi: US-based hedge fund Jane Street, which allegedly made handsome gains through market manipulation, has deposited the mandated Rs 4,843.57 crore in an escrow account in favour of Sebi and requested it to lift certain restrictions. The watchdog is examining the request, Sebi said in a statement on Monday. In an interim order on July 3, the regulator found Jane Street (JS) guilty of manipulating indices by taking bets in cash and futures & options markets simultaneously for making…

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    • 16 July
      263

      India, US to resume bilateral trade negotiations amid tariff concerns

      An Indian delegation has reached Washington to hold a fresh round of talks on the Bilateral Trade Agreement (BTA) with the US, focusing on agriculture, automobiles, and tariffs. The four-day discussions are expected to shape a potential interim deal New Delhi: An Indian Commerce Ministry team has reached Washington for another round of talks on the proposed bilateral trade agreement (BTA), which will begin on Monday, an official said. Chief negotiator of India and special secretary in the department of commerce Rajesh Agrawal will join the team on Wednesday. The four-day talks will end on Thursday. India’s deputy chief negotiator for the proposed BTA has reached Washington for the talks on the first phase of the BTA, the official said. The…

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    • 15 July
      231

      Ola Electric posts Rs 428 crore loss in Q1 FY26 as revenue halves

      Ola Electric reported a Q1 FY26 net loss of ₹428 crore as revenue fell nearly 50% YoY to ₹828 crore. E-scooter deliveries dropped sharply, and share prices continue to slump amid rising losses and operational consolidation efforts New Delhi: Bhavish Aggarwal-led electric two-wheeler maker Ola Electric on Monday reported a consolidated net loss of Rs 428 crore in Q1 FY26, as revenue from operations also nosedived to Rs 828 crore a 49.6 per cent year-on-year decline from Rs 1,644 crore revenue in the same quarter last fiscal. The net loss widened by nearly 30 per cent (year-on-year) from Rs 347 crore net loss in Q1 FY25 for the company, according to its stock exchange filing. The e-scooter deliveries were also hit…

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    • 15 July
      185

      Sensex and Nifty fall amid IT selloff, FII outflows, and trade tariff uncertainty

      Sensex and Nifty fell in early trade Monday, dragged down by IT stocks and continued FII outflows. Investors await clarity on the US-India trade deal, with hopes that a resolution could revive market sentiment. Global cues remained mixed. Mumbai: Benchmark indices Sensex and Nifty dropped in early trade on Monday amid selling pressure in IT stocks and foreign fund outflows. The 30-share BSE Sensex declined 232.93 points to 82,267.54 in early trade. The 50-share NSE Nifty dipped 71.4 points to 25,078.45. From the Sensex firms, Bajaj Finance, Infosys, Tech Mahindra, Bharti Airtel, HCL Tech and Asian Paints were among the biggest laggards. However, Trent, Axis Bank, Mahindra & Mahindra and NTPC were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,104.22…

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    • 15 July
      182

      Bitcoin surges past $1,21,000 milestone for first time

      Bitcoin surged past $1,21,000 for the first time, driven by institutional demand, ETF inflows, and macroeconomic factors. Ethereum also rose. Experts cite regulatory clarity, tokenization progress, and US policy support as key drivers of this sustained crypto market rally New Delhi: Leading cryptocurrency Bitcoin surged past the $1,21,000 milestone for the first time on Monday. According to data from CoinMarketCap, the cryptocurrency went up 2.75 per cent at $1,21,097.94 in early trade. Market capitalisation of Bitcoin reached at $2.41 trillion, up 2.85 per cent, with trading volumes at $60.69 billion, up 33.12 per cent, the data showed. This year alone, the cryptocurrency has surged more than 29 per cent, according to reports. Ethereum, the second largest cryptocurrency, jumped 3.28 per cent…

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    • 15 July
      163

      Rupee falls 17 paise to 85.97 against US dollar amid FII outflows, trade tariff concerns

      The rupee slipped 17 paise to 85.97 against the US dollar on Monday due to a strong greenback and FII outflows. Market sentiment was also weighed by uncertainty over US tariffs, even as India remains exempt for now. Mumbai: The rupee fell 17 paise to 85.97 against the US dollar in early trade on Monday amid a strengthening greenback and FII outflows. Uncertainties over US trade tariffs further pressured the rupee, according to forex experts. At the interbank foreign exchange, the local unit opened 85.96 against the US dollar before slipping to 85.97, down 17 paise from its previous close. The rupee had closed at 85.80 against the US dollar on Friday. “As (US President Donald) Trump applies tariffs on various countries, India…

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    • 14 July
      400

      Kamarajar, Paradip, Deendayal ports to accommodate cape-size vessels

      India is enhancing port infrastructure to support larger vessels and boost transshipment capacity. With ports like Vadhavan and Galathea Bay under development, the government aims to reduce dependence on foreign hubs and position India as a major transshipment center New Delhi: Major ports have achieved a draft of 14 metres, while ports like Kamarajar, Paradip and Deendayal are progressing towards 18-metre draft to accommodate large shipping vessels due to policy initiative taken by the government to make India a regional transshipment powerhouse, Shipping Secretary TK Ramachandran said on Sunday. Transshipment has historically remained a missed opportunity for Indian ports, with 75 per cent of India’s transshipment cargo routed through foreign hubs like Colombo, Singapore and Port Klang.“Major Ports have achieved a…

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    • 14 July
      317

      Vedanta donates Rs 97 crore to BJP in FY25, Nearly 4x rise

      Vedanta Ltd nearly quadrupled its political donations to the BJP to ₹97 crore in FY25, while slashing funds to Congress. Total political contributions rose to ₹157 crore, as per its annual report, alongside a rise in brand and management fees New Delhi: Billionaire Anil Agarwal’s mining conglomerate Vedanta Ltd nearly quadrupled its donations to the ruling Bharatiya Janata Party (BJP), contributing Rs 97 crore in the fiscal year ending March 2025, according to its latest annual report. Under “Miscellaneous Expenses’, Vedanta detailed the political donations as well as the management and brand fee expenses it paid to its parent, London-listed Vedanta Resources Plc. Political donations totalled Rs 157 crore in 2024-25, up from Rs 97 crore in the previous financial year. While…

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