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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 -
      14 July
      411

      Andhra Pradesh: BITS Pilani to invest over Rs 2,200 cr on expansion, new ‘AI+ Campus’ at Amaravati

      BITS Pilani will invest over Rs 2,200 crore in a five-year expansion, including a futuristic AI+ Campus in Amaravati. The initiatives aim to increase student capacity, enhance research, and launch digital education programs to reach over 1 lakh learners New Delhi: BITS Pilani, an Institution of Eminence, will invest over Rs 2,200 crore on expansion, including an ‘AI+ Campus’ at Amaravati in Andhra Pradesh, its Chancellor and industrialist Kumar Mangalam Birla said on Sunday. The investment will be made over a period of five years. In his address at the 2025 convocation of the institution, Birla reaffirmed BITS Pilani’s “commitment to nation-building with three transformative initiatives”, as “India aspires to become a 10 trillion dollar economy and a knowledge superpower”. Elaborating,…

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    • 14 July
      329

      Centre eases FGD norms for power plants, electricity costs likely to fall

      India has relaxed mandatory FGD installation at most coal power plants, limiting it to areas near large cities or pollution hotspots. The move, based on scientific studies, aims to cut electricity costs while maintaining air quality through targeted, evidence-driven regulation New Delhi: The Ministry of Environment, Forest and Climate Change has relaxed the requirement for mandatory installation of flue gas desulphurisation (FGD) systems at most coal-based thermal power plants, marking a move towards differentiated compliance based on proximity to urban populations and the sulphur content of the coal used. The new framework, finalised after extensive deliberations and multiple independent studies, will restrict FGD mandates only to plants located within 10 kilometres of cities with a population exceeding one million. Plants in…

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    • 13 July
      236

      Government plans major payout to offset LPG losses

      The government is likely to compensate state-run oil firms — IOC, BPCL, and HPCL — with Rs 30,000–35,000 crore for LPG under-recoveries over the last 15 months. The compensation may be funded through additional revenue from the recent excise duty hike New Delhi:The government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies – Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) – to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official. The Finance Ministry is working out the exact under-recovery or loss incurred and the mechanism to compensate it, he said. In the Union Budget for 2025-26 fiscal (April…

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    • 13 July
      171

      Tesla’s first India experience centre to open in Mumbai on July 15

      Elon Musk’s Tesla is set to open its first Indian showroom in Mumbai on July 15, while Starlink prepares for its India launch. Tesla plans to sell electric vehicles without local manufacturing, leasing multiple properties for sales and service operations New Delhi: As Elon Musk-owned affordable satellite internet service Starlink gets prepared to finally launch its services in India, his other venture, electric car company Tesla, is also stepping closer to kick-off its operations in the country from this month. Although not manufacturing in the country at the moment, the company is set to open its first showroom in Mumbai on July 15. Called an “experience centre”, the Tesla showroom in the financial capital is situated in a 4,000 square feet…

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    • 13 July
      169

      Keep working hard in tariff talks: Trump tells countries

      US President Donald Trump made the remarks even as countries strive to reach deals with the US to avoid or minimise the impact of steep “reciprocal” tariffs that are set to take effect on August 1 Washington: US President Donald Trump has advised countries in ongoing trade talks with his administration to “just keep working hard” ahead of the August 1 negotiation deadline, repeating his claim that America has been taken advantage of by “both friend and foe” for many years. Trump made the remarks before departing for a flood-ravaged area in Texas, as South Korea, Japan and other countries strive to reach deals with the United States to avoid or minimise the impact of steep “reciprocal” tariffs that are set to…

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    • 13 July
      182

      Samsung Days Sale begins on July 12 with exclusive AI-powered deals across categories

      Samsung has launched its ‘Samsung Days Sale’ from July 12 to 18, offering major discounts on AI-powered smartphones, TVs, laptops, and home appliances. The sale is live on Samsung.com, the Shop App, and Experience Stores with exclusive exchange and cashback deals. Hyderabad: Samsung, India’s largest consumer electronics brand, has announced the launch of its much-anticipated Samsung Days Sale, starting July 12 and continuing through July 18, 2025. The sale is exclusive to Samsung.com, the Samsung Shop App, and Samsung Experience Stores. This year’s campaign focuses on Samsung’s AI-powered product ecosystem, offering customers exciting deals across smartphones, TVs, laptops, wearables, and home appliances. The brand is promising a “truly unparalleled shopping experience” with limited-period discounts, exchange offers, and bundled benefits. AI at…

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    • 12 July
      223

      Sensex, Nifty fall in early trade as TCS earnings drag down IT stocks

      Sensex and Nifty fell sharply on Friday, led by declines in IT stocks after TCS posted muted revenue growth in its Q1 FY26 results. Despite a 6% profit rise, weak market sentiment and global cues kept investor optimism in check. Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Friday dragged down by selling pressure in IT stocks post earnings announcement by TCS. The 30-share BSE Sensex dropped 398.45 points to 82,791.83 in early trade. The 50-share NSE Nifty declined 111.25 points to 25,244. From the Sensex firms, Tata Consultancy Services traded nearly 2 per cent lower after reporting its June quarter earnings. Country’s largest IT services company TCS on Thursday reported a 6 per cent growth in June quarter net…

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    • 12 July
      197

      Rupee slips to 85.89 vs US dollar as Trump’s tariff push spooks markets

      The rupee fell 19 paise to 85.89 against the US dollar after Donald Trump proposed steep tariffs on Canadian imports. Market jitters followed, capping rupee strength. India-US trade talks continue, with efforts to finalise the first phase by October. Mumbai: The rupee depreciated 19 paise to 85.89 against the US dollar in early trade on Friday, after Trump announced 35 per cent tariffs on Canada from next month, denting investor sentiments. At the interbank foreign exchange, the rupee opened at 85.76 against the dollar, then touched an early low of 85.89, down 19 paise from its previous close. On Thursday, the rupee pared initial gains and settled for the day higher by 3 paise at 85.70 against the US dollar. Trump on Thursday…

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    • 12 July
      187

      ‘SEMICON India 2025’ to showcase India’s growing role as trusted, self-reliant, global chip hub

      SEMICON India 2025, set for September 2–4 in Delhi, will spotlight India’s semiconductor ambitions. With global pavilions, CXO panels, startup showcases, and skill-building programmes, the event aims to position India as a trusted hub in chip innovation and manufacturing New Delhi: The upcoming ‘SEMICON India 2025’ event will play a key role in showcasing how India is positioning itself as a trusted, self-reliant, and globally competitive hub in the semiconductor and microelectronics sector, the Ministry of Electronics and Information Technology (MeitY) said on Friday. Scheduled to take place from September 2 to 4 at Yashobhoomi (India International Convention and Expo Centre) in the national capital, the event aims to highlight India’s growing capabilities and ambitions in the global semiconductor industry. Jointly…

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    • 12 July
      163

      National Highways Authority of India to report, blacklist ‘loose FASTag’ users

      NHAI has tightened its rules against ‘loose FASTags’—FASTags not affixed to vehicles—to improve toll collection and avoid congestion. Toll agencies must now report such cases for blacklisting to support smooth operations ahead of MLFF and annual pass rollouts New Delhi: State-owned NHAI on Friday said it has strengthened the process for reporting ‘loose FASTag’ for blacklisting users to ensure smooth tolling operations. In view of upcoming initiatives like the annual pass system and multi-lane free flow (MLFF) tolling, it is critical to address this issue to ensure FASTag authenticity and system reliability, the National Highways Authority of India (NHAI) said in a statement. “To ensure smooth tolling operations and strengthen reporting of ‘loose FASTags’, NHAI has further streamlined its policy for the Toll…

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