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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 -
      6 July
      187

      India-US interim trade talks in final phase, deal likely before July 9

      India has hardened its position on giving duty concessions to American farm and dairy products as these are politically sensitive sectors New Delhi: The Indian team, led by chief negotiator Rajesh Agrawal, has returned from Washington after concluding another round of talks on an interim trade pact, but discussions will continue as certain issues in the agri and auto sectors still need to be resolved, an official said. The official said that the talks are in the last phase and its conclusion is expected to be announced before July 9.”Indian team is back from Washington. Negotiations will continue. There are certain issues which need to be resolved in agriculture and auto sectors,” the official said. The Indian team was in Washington…

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    • 6 July
      174

      MakeMyTrip completes share repurchase to cut China-based Trip.com’s stake

      With the repurchase, Trip.com’s voting power in the travel booking platform has come down to 16.90 per cent from 45.34 per cent New Delhi: Nasdaq-listed MakeMyTrip has completed repurchase of over 3.4 crore Class B shares held by China-based Trip.com, bringing down the latter’s voting power in the travel booking platform to 16.90 per cent from 45.34 per cent. The Gurugram-headquartered MakeMyTrip informed the US stock exchange that three Trip.com-nominated directors have resigned with immediate effect following the completion of the repurchase, as the number of Trip.com nominated directors on its Board has been reduced from five earlier, to two pursuant to the Terms of Issue of the Class B shares. The move comes against the backdrop of calls for minimising business relations…

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    • 5 July
      194

      Pakistan, Russia plan road and rail links to boost trade routes

      Pakistan and Russia have agreed to expand regional rail and road networks to improve trade links and offer landlocked Central Asian countries access to warm waters. The collaboration aims to position Pakistan as a strategic transit hub connecting Asia and Russia Islamabad: Pakistan and Russia have agreed to collaborate on establishing a robust rail and road network to link the South Asian country with Central Asia and Russia, providing landlocked states direct access to warm waters, a media report said on Friday. Federal Minister for Communications Abdul Aleem Khan and Russian Deputy Minister of Transport Andrey Sergeyevich Nikitin, on the sidelines of the Shanghai Cooperation Organisation (SCO) ministerial conference in Tianjin, China, agreed to accelerate infrastructure development across the region to facilitate…

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    • 5 July
      176

      Massive stock market scam: How US firm Jane Street rigged Indian indices for Rs 43,000 crore profit

      Sebi bans Jane Street and three of its related entities — JSI2 Investments Private Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading Ltd — from accessing the Indian securities market until further notice Mumbai: In one of the biggest market manipulation cases India has witnessed in recent years, US-based trading firm Jane Street is under the scanner for allegedly using sophisticated strategies to rig Indian stock indices and pocket over Rs 43,000 crore in options profits. According to the Securities and Exchange Board of India (Sebi), Jane Street and its related entities devised an elaborate intra-day trading strategy to artificially inflate and deflate the Bank Nifty index — mainly on expiry days — to gain from massive options…

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    • 5 July
      215

      Sensex, Nifty open higher but turn flat as investors await US-India trade deal

      Sensex and Nifty opened higher on Friday driven by gains in bank stocks and a strong US market rally but turned flat amid investor caution over the anticipated India-US trade deal. Asian markets showed mixed trends, while crude oil prices fell. Mumbai: Benchmark indices Sensex and Nifty inched higher in opening trade on Friday amid buying in bank stocks and a rally in the US markets, but later turned flat as investors stayed on the sidelines ahead of India’s upcoming trade deal with the US. The 30-share BSE Sensex went up by 67.34 points to 83,306.81 in opening trade. The 50-share NSE Nifty inched higher by 23.55 points to 25,428.85. Later, both the key indices faced volatile trends and were trading flat. The…

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    • 5 July
      188

      Rupee gains 21 paise against dollar as trade deal hopes boost Asian currencies

      The rupee appreciated 21 paise to 85.34 against the US dollar on Friday, supported by gains in Asian currencies amid optimism over trade deals. US-Vietnam agreement, falling dollar index, and strong domestic PMI data boosted investor confidence. Mumbai: The rupee appreciated 21 paise to 85.34 against the US dollar in early trade on Friday as Asian currencies, including the rupee gained ground on renewed hopes of trade deals with the US. Forex traders said, US President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline. The optimism spilled over into broader Asian forex sentiment, giving the rupee some fresh momentum. At…

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    • 4 July
      293

      IndiGrid to build India’s largest battery storage system with IFC

      The Rs 460-crore project will come up in Gujarat and support India meet clean energy targets by 2030 New Delhi: International Financial Corporation (IFC), a member of the World Bank Group, on Thursday committed Rs 460 crore to IndiGrid to build India’s largest standalone battery energy storage system project in Gujarat. The project is designed to play a key role in supporting the state’s clean energy goals by enhancing grid stability and ensuring reliable power is available during peak demand, a joint statement said. The long-term financing of USD 55 million (about Rs 460 crore) will be through a subscription to listed non-convertible debentures, with USD 38.5 million from IFC’s own account and USD 16.5 million in concessional support from the…

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    • 4 July
      199

      LIC stock jumps 34pc from 52-week low on strong Q4 results and brand growth

      LIC shares have surged 34% from their 52-week low, driven by strong Q4 earnings, record-breaking policy sales, and rising brand value. Brokerages remain bullish, and the insurer’s market cap crossed ₹6 lakh crore after a 7-month gap. Mumbai: Life Insurance Corporation (LIC) shares have staged a sharp rebound, rising nearly 34.41 per cent from their 52-week low of Rs 715.30, driven by improved technical indicators, positive market sentiment, and upbeat brokerage ratings. The public sector insurer’s stock, which had declined nearly 40 per cent between August 2024 and February 2025 due to persistent selling pressure, has made a strong comeback since March. In just four months, it has recovered a significant portion of its losses. LIC shares began Thursday’s intra-day trading session…

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    • 4 July
      187

      Rupee falls 8 paise to 85.70 against US dollar amid FII outflows, RBI dollar demand

      The rupee fell by 8 paise to 85.70 against the US dollar in early trade Thursday, pressured by sustained FII outflows, dollar demand from the RBI, and global risk sentiment. Traders await NFP data and India-US trade deal cues. Mumbai: The rupee depreciated 8 paise to 85.70 against the US dollar in early trade on Thursday amid renewed headwinds from global risk sentiment and persistent foreign fund outflows.= Forex traders said the rupee was trading in a narrow range largely due to RBI’s cautious strategy as any dip in USD-INR is likely to be met with dollar buying by the RBI, not only to manage maturities but also to rebuild its intervention cushion. This persistent demand for dollars by the central bank is…

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    • 4 July
      226

      Sensex, Nifty rise on Asia cues and hopes of India-US trade deal

      Indian benchmark indices Sensex and Nifty rose in early trade on Thursday, buoyed by a positive trend in Asian markets and optimism over a potential India-US trade deal. Gains in key stocks and global cues supported investor sentiment. Mumbai: Equity benchmark indices Sensex and Nifty climbed in initial trade on Thursday, mirroring a positive trend in Asian markets, amid optimism over India-US trade deal. The US-Vietnam trade deal also had a positive effect on the domestic equities, analysts said. The 30-share BSE Sensex climbed 242.83 points to 83,652.52 in early trade. The 50-share NSE Nifty went up by 83.65 points to 25,537.05. “US President Trump announced a trade deal reducing Vietnam’s tariff to 20 per cent from 46 per cent, raising hopes that…

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