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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 -
      3 July
      250

      M&M, Toyota see growth while Maruti, Hyundai face slowdown

      India’s top carmakers Maruti Suzuki and Hyundai Motor India saw double-digit declines in June sales amid a domestic demand slowdown. While M&M and  Toyota posted growth, the dip in small car sales highlights growing affordability concerns in the market New Delhi: Automakers Maruti Suzuki and Hyundai Motor India reported a double-digit drop in vehicle dispatches in June amid a demand slowdown in the domestic market. Mahindra & Mahindra saw an increase in dispatches to dealers last month, while Tata Motors witnessed a dip compared to June last year. The country’s largest carmaker Maruti Suzuki said its total domestic passenger vehicle dispatches to dealers dipped 13 per cent to 1,18,906 units last month compared to 1,37,160 units in the year-ago period. Sales of mini-segment…

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    • 3 July
      216

      Bangladesh clears pending dues of Adani Power

      Bangladesh makes single largest payment of USD 437 million in June, asks Adani Power to supply power from both units as per Bangladesh Power Development Board schedule New Delhi: Bangladesh made its single largest payment of USD 437 million in June, clearing pending dues, including carrying costs, and issues related to the power purchase agreement, reaffirming the Indian conglomerate’s asset as a reliable and cost-competitive power source for meeting the country’s growing energy needs, sources said. Bangladesh is now regular in payments. Additionally, an LC (Letter of Credit) worth about two months of billing and sovereign guarantee for all dues as additional security has been established, sources aware of the matter said. Since payment-related matters are resolved, Bangladesh has asked Adani…

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    • 3 July
      197

      Mahindra sales rise 14 per cent in June to 78,969 units

      Mahindra & Mahindra posted a 14 per cent rise in overall sales for June 2025, led by  SUV and  tractor demand. Passenger vehicle sales rose 18 per cent, while tractor sales climbed 13 per cent. The company also recorded its highest-ever quarterly SUV performance New Delhi: Mahindra & Mahindra on Tuesday reported a 14 per cent year-on-year increase in its overall auto sales to 78,969 units in June. In the passenger vehicles segment, the company said its utility vehicles sales surged 18 per cent to 47,306 units in the domestic market last month against 40,022 units in the year-ago period, up 18 per cent. Domestic three-wheeler sales stood at 8,454 units, an increase of 37 per cent as compared with 6,180 units in June last…

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    • 3 July
      192

      Bajaj Auto June sales rise 1 per cent to 3.6 lakh units

      Domestic sales dropped 13 per cent, strong export performance—up 21% per cent—helped offset the decline. The Pune-based company sold over 1.7 lakh units overseas New Delhi: Bajaj Auto on Tuesday reported 1 per cent year-on-year growth in total sales, including exports, to 3,60,806 units in June. The Pune-based automobile firm had recorded total sales of 3,58,477  vehicles in June 2024, Bajaj Auto said in a regulatory filing. Total domestic sales, including commercial  vehicles, stood at 1,88,460 units last month as compared with 2,16,451 units a year ago, a dip of 13 per cent. Exports during the month under review jumped 21 per cent to 1,72,346 vehicles from 1,42,026 vehicles in the year-ago period, the company said.

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    • 2 July
      267

      Cabinet clears Rs 1.07 lakh crore job-linked incentive scheme

      The Union Cabinet has approved a Rs 1.07 lakh crore Employment-linked Incentive scheme to create over 3.5 crore jobs in two years. Employers will receive up to Rs 3,000 per month for hiring first-time employees, with extended benefits for the manufacturing sector New Delhi: The government on Tuesday approved an Employment Linked Incentive scheme with an outlay of Rs 1.07 lakh crore to support job generation, enhance employability and social security across all sectors, with special focus on the manufacturing sector. The decision was taken at a meeting of the Union Cabinet, chaired by Prime Minister Narendra Modi, Information & Broadcasting Minister Ashwini Vaishnaw said. The scheme aims to incentivise the creation of more than 3.5 crore jobs in the country over two years.…

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    • 2 July
      245

      Jet fuel price hiked by 7.5 per cent , commercial LPG gets Rs 58.5 cut

      The increase in ATF price will add to the burden on commercial airlines, for whom fuel makes up for almost 40 per cent of the operating cost New Delhi: The price of jet fuel (ATF) was sharply increased by 7.5 per cent on Tuesday, while the cost of LPG used in commercial establishments was reduced by Rs 58.50 per cylinder, reflecting shifts in international benchmark rates. After three rounds of price cuts, aviation turbine fuel (ATF) price was increased by Rs 6,271.5 per kilolitre, or 7.5 per cent, to Rs 89,344.05 per kl in the national capital – home to one of the busiest airports in the country, according to state-owned fuel retailers. The increase amounts to half of the total…

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    • 2 July
      315

      Ola Electric sales drop 45 per cent in June, market share plunges to 19 per cent

      Over the past one month, the stock of the Bhavish Aggarwal-led company has lost 21.74 per cent of its value New Delhi: Bhavish Aggarwal-led Ola Electric sold 20,189 electric scooters in the month of June — a massive 45 per cent drop (year-on-year) compared with 36,859 units from the same month previous year (June 2024), the government’s VAHAN data showed on Tuesday. This decline has taken a toll on its market share, which has shrunk from 46 per cent in June 2024 to just 19 per cent now. The situation is no better on the stock market. Ola Electric, which is nearing the one-year mark since its public listing, has seen its share price fall steeply. On Tuesday afternoon, the stock was…

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    • 2 July
      273

      Coal India production drops by 8.5 per cent in June

      Coal India Ltd reported an 8.5 per cent drop in June production to 57.8 MT, likely due to monsoon disruptions. Offtake also fell. Despite this, the government assures no coal shortage and remains focused on reducing imports and boosting domestic output New Delhi: State-owned CIL on Tuesday said coal production dropped by 8.5 per cent to 57.8 million tonnes (MT) in June even as the government aims to increase the output to reduce the dependency on imports. The coal production by the PSU was 63.1 MT in the corresponding month of the previous fiscal, Coal India Ltd (CIL) said in a regulatory filing. The coal output by the PSU in the first three months of the current fiscal also dropped to…

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    • 1 July
      298

      Government to invite bids for IDBI stake sale

      The Centre and LIC together own nearly 95 per cent of the bank, and of this, 60.72 per cent is up for sale as part of the the government’s ongoing disinvestment plan Mumbai: Shares of IDBI Bank rose by 4 per cent to Rs 105 apiece on Monday after reports suggested that the government is preparing to invite financial bids for the lender. This move signals fresh momentum in the much-delayed disinvestment process of the bank. However, the share price consolidated later and was trading at Rs 104.26, up by Rs 2.94 or 2.90 per cent on the National Stock Exchange (NSE) around 1:50 pm. The bank was yet to comment on the reports. According to reports, the Centre is close…

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    • 1 July
      190

      GST completes 8 years with record Rs 22 lakh crore collection in FY25

      The ‘One Nation, One-Tax’ was launched by Prime Minister Narendra Modi on July 1, 2017 New Delhi:The Goods and Services Tax (GST), widely hailed as one of the biggest economic reforms in post-Independence India, will on Tuesday complete eight years of its success story, with collections soaring to a record Rs 22.08 lakh crore in 2024-25, marking a year-on-year growth of 9.4 per cent, with the number of taxpayers in its ambit surging past 1.51 crore. Prime Minister Narendra Modi had called GST path-breaking legislation for New India at its launch on July 1, 2017. Eight years on, the numbers speak for themselves, reflecting India’ s strong fiscal position. The average monthly collection stood at Rs 1.84 lakh crore in 2024-25, a…

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