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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 -
      1 July
      195

      Rupee rises 6 paise to 85.44 against US dollar as crude prices ease and dollar weakens

      The rupee gained 6 paise to 85.44 against the US dollar in early trade on Monday, supported by lower crude prices and a weaker dollar index. A ceasefire in the Middle East and strong FII inflows boosted investor sentiment. Mumbai: The rupee appreciated 6 paise to 85.44 against the US dollar in early trade on Monday, supported by weakness of the American currency and easing crude oil prices amid rise in investor risk sentiments. Forex traders said the US dollar index weakened in the overseas market and was trading at 97 level, while Brent oil declined to USD 67 a barrel on prospects of more OPEC+ supply in August and easing risks in the Middle East. Moreover, the ceasefire between Iran and Israel…

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    • 1 July
      179

      Sensex, Nifty slip after four-day rally as profit-taking hits banking stocks

      Sensex and Nifty opened lower on Monday after a four-session rally, led by profit-booking in bank stocks. Sensex dropped 182 points and Nifty 46 points. FIIs remained net buyers while global cues were mixed, with Brent crude trading lower. Mumbai: Equity benchmark indices Sensex and Nifty declined in early trade on Monday after a four-day rally amid emergence of profit-taking, mainly in bank stocks. The 30-share BSE Sensex slipped 182.77 points to 83,876.13 in early trade. The 50-share NSE Nifty dropped 46.25 points to 25,591.55. From the Sensex firms, Mahindra & Mahindra, Bharti Airtel, NTPC, HDFC Bank, Kotak Mahindra Bank and Axis Bank were among the laggards. However, Larsen & Toubro, Trent, State Bank of India and Eternal were among the gainers. In…

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    • Jun- 2025 -
      30 June
      296

      Indian cement sector sees 9 per cent year-on-year growth in May

      India’s cement sector recorded 39.6 million MT production in May 2025, marking 9% YoY growth. ICRA projects continued demand from housing and infrastructure, forecasting 6–7% growth in FY26 and improving operating margins across cement firms New Delhi: The Indian cement sector reached 39.6 million metric tonnes (MT) in May, recorded a strong 9 per cent year-on-year (YoY) growth in volumes, according to a new report. The positive trend continued in the first two months of FY26, with volumes rising 8 per cent YoY to 78.7 million MT, according to the report by ICRA. For FY2025, cement volumes grew by 6.3 per cent YoY, totalling 453.0 million MT. ICRA projects a further 6-7 per cent growth in FY2026, with volumes expected to…

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    • 30 June
      278

      Anant Ambani to earn Rs 10–20 crore annually as Reliance Executive Director

      Anant Ambani, son of Mukesh Ambani, has been appointed Executive Director of Reliance Industries. He will earn ₹10–20 crore annually plus profit-based incentives and perks. The move is part of a succession strategy involving all three Ambani siblings New Delhi: Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed Executive Director on flagship Reliance Industries, will be paid Rs 10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice. While the richest Asian’s all three children – twins Akash and Isha, and Anant – were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youngest of the three…

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    • 30 June
      221

      India’s ban on Pakistani cargo ships raises freight costs, delays shipments

      Pakistani importers now depend on feeder vessels, causing delays of up to 50 days, with limited but rising export-related costs Islamabad: India’s ban on ships carrying Pakistani goods from anchoring at its ports has increased freight charges and transit time, according to a media report. Following the Pahalgam terror attack, India imposed a comprehensive ban, effective May 2, 2025, on the direct or indirect import or transit of goods originating in or exported from Pakistan. Pakistani importers said the Indian ban has resulted in longer shipping times and higher freight charges, Dawn newspaper reported on Sunday. “Mother vessels are not coming to Pakistan due to this Indian action, which delays our imports by 30 to 50 days,” said Javed Bilwani, President of the…

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    • 30 June
      289

      India’s auto sector powers $5 trillion economy dream; contributes over 7 per cent to GDP

      India’s booming automobile sector, contributing over 7 per cent to GDP, is key to its $5 trillion economy goal. With strong policy support, EV adoption, and local manufacturing growth, it reflects India’s rise in global auto production and clean-tech innovation New Delhi: As India moves closer to achieving its $5 trillion economy dream, the automobile sector is emerging as a strong pillar of growth by contributing around 7.1 per cent to the country’s GDP and nearly 49 per cent to its manufacturing GDP. Additionally, it supports over 3.7 crore jobs and accounts for close to 8 per cent of India’s total exports. Clearly, the performance of this sector is closely linked to the overall economic growth of the country. More than…

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    • 29 June
      178

      Shell denies reports of BP takeover talks

      The British oil giant reaffirmed its focus on simplifying its business and clarified that no approach or discussions had taken place with BP regarding a potential offer London: British oil giant Shell on Thursday denied media reports that it is in talks to buy rival BP. The Wall Street Journal on Wednesday said Shell was holding “early stage talks” to acquire BP, citing people familiar with the matter. “In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” Shell said in a statement to the London Stock Exchange. Shell has…

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    • 29 June
      201

      PhonePe, HDFC announces launch of co-branded RuPay credit card

      The co-branded RuPay credit card, offers up to 10 per cent rewards on UPI and app-based spending. Available in two variants, the card integrates with UPI and is fully managed via the PhonePe app New Delhi: PhonePe and HDFC Bank announced the launch of a co-branded credit card, marking the digital payments and financial services company’s foray into the co-branded card segment. The PhonePe HDFC bank co-branded RuPay credit card is designed to meet the evolving financial needs of Indian consumers. It also offers benefits on UPI spending, especially on the PhonePe platform. “We are excited about our first co-branded credit card launch in partnership with HDFC Bank. This launch underscores our commitment to providing innovative financial solutions to our wide…

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    • 29 June
      144

      Post offices across India to accept digital payments from August

      Post offices have not been able to accept digital payments as they don’t have their accounts synced with UPI (unique payment interface) system  New Delhi: Post offices across India will start accepting digital payments at counters from August after completing the rollout of a new application in their IT system, official sources said. Post offices have not been able to accept digital payments as they don’t have their accounts synced with UPI (unique payment interface) system. “The Department of Posts is implementing its IT infrastructure which will have new applications that are enabled to perform transactions with Dynamic QR Code. Rollout will be completed at all post offices by August 2025,” an official source said. Pilot rollout of the new system under IT 2.0…

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    • 29 June
      195

      Hyderabad-based Aurobindo Pharma recalls over 4,000 bottles of pain relieving drug

      US-based unit of the drug major is recalling Acetaminophen Tablets (325 mg) in the US due to cGMP (Current Good Manufacturing Practices) deviations New Delhi: Aurobindo Pharma is recalling over 4,600 bottles of a  pain relieving drug in the US market due to manufacturing issues, according to the US health regulator. A US-based unit of the Hyderabad-based drug major is recalling 4,608 bottles of Acetaminophen Tablets (325 mg) in the US due to cGMP (Current Good Manufacturing Practices) deviations, the US Food and Drug Administration (USFDA) said in its latest Enforcement Report. The affected lot is being recalled “due to confirmed consumer complaints received with the observation of tablet discoloration (brown surface on tablets)”, it added. The medication is used to relieve headaches, migraine, toothache, back pain…

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