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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

    • Jun- 2025 -
      28 June
      203

      JioBlackRock Broking gets sebi approval to start brokerage operations

      The move enhances the joint venture’s goal of offering affordable, tech-driven investment solutions across mutual funds, advisory, and broking New Delhi: Jio BlackRock Broking Pvt Ltd, a wholly owned subsidiary of Jio BlackRock Investment Advisers Pvt Ltd, has received regulatory approval from the Securities and Exchange Board of India (Sebi) to commence operations as a brokerage firm. JioBlackRock Broking aims to bring affordable, transparent, and technology-driven execution capabilities for investors, the company said in a statement. The broking entity’s parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Ltd (JFSL) and BlackRock Inc of the US. Along with the recent regulatory approvals received by Jio BlackRock Asset Management Pvt Ltd and Jio BlackRock Investment Advisers to commence operations,…

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    • 28 June
      184

      South West Pinnacle secures Rs 30 crore Oman mining contract for copper, gold & chromite

      Through its JV Alara Resources LLC Oman, the explorer will execute a two-year mandate in concession areas 12B & 13 awarded by Minerals Development Oman New Delhi: South West Pinnacle Exploration Ltd on Friday said it has secured an approximately Rs 30 crore contract from Minerals Development Oman (MDO) for the exploration and mining of copper, gold and chromite in Oman’s concession areas 12 B and 13. The work will be carried out over a period of roughly two years through its joint venture company, Alara Resources LLC (ARL) Oman, the company said in a regulatory filing. MDO, a strategic partnership between the Oman Investment Authority and Oman National Investments Development Company (TANMIA) has a principal mandate to drive the monetisation…

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    • 28 June
      186

      Sensex, Nifty rise for fourth day on FII inflows and global market rally

      The Sensex and Nifty opened higher on Friday, extending their winning streak to four sessions, backed by foreign fund inflows and firm US cues. Gains in L&T, SBI, and Tata Motors lifted indices, while select financial stocks lagged. Mumbai: Benchmark indices Sensex and Nifty began the trading session on an optimistic note on Friday amid fresh foreign fund inflows and a rally in the US markets. Rallying for the fourth day running, the 30-share BSE Sensex climbed 229.22 points to 83,985.09 in early trade. The 50-share NSE Nifty went up 73.5 points to 25,622.50. From the 30-Sensex firms, Larsen & Toubro, Tata Steel, State Bank of India, Tata Motors, HCL Tech, and Bharat Electronics were among the major gainers. Bajaj Finserv, HDFC Bank,…

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    • 28 June
      224

      Rupee rises to 85.49 on FII inflows and stock market gains; Brent crude caps further upside

      The rupee appreciated by 23 paise to 85.49 against the US dollar on Friday, backed by strong FII inflows and buoyant equity markets. However, a rise in Brent crude prices and a stronger dollar index limited further appreciation. Mumbai: The rupee rose 23 paise to 85.49 against the US dollar in early trade on Friday, aided by strong FII inflows and positive sentiments in the domestic equity markets. However, a rise in global crude oil prices and a slightly stronger greenback capped further gains in the local unit, forex traders said. Foreign institutional investors (FIIs) purchased equities worth Rs 12,594.38 crore on a net basis on Thursday, according to exchange data. At the interbank foreign exchange, the rupee opened at 85.50 against…

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    • 27 June
      192

      Microsoft plans ‘substantial’ layoffs at Xbox gaming division

      The job cuts at Xbox are expected to impact several teams and also affect employees working in Microsoft’s global sales operations Hyderabad: Microsoft is planning to lay off a ‘substantial’ number of employees from its Xbox division as part of a company-wide restructuring exercise. The company is likely to announce the layoffs early next week, just before the end of its fiscal year on June 30, according to reports. Although the exact number of job losses remains unclear, the layoffs will impact several teams and may also affect employees working in Microsoft’s global sales operations, according to a Bloomberg report. The Xbox division oversees Microsoft’s gaming consoles, game development studios, and digital services, including Game Pass. This could be the fourth major layoff at…

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    • 27 June
      178

      India’s E-commerce market to hit $300 billion by 2030, driving $1 trillion digital economy

      India’s e-commerce market is projected to grow from $30 billion in 2020 to $300 billion by 2030, fueled by internet access, policy support, and rising consumer aspirations. Q-commerce, D2C brands, content platforms, and UPI microtransactions are reshaping the digital economy. Bengaluru: Starting from a base of $30 billion in 2020, India’s online commerce sector is expected to get to $300 billion by the end of the decade in 2030, contributing to a $1 trillion digital opportunity in the country, according to a report released on Thursday. This demonstrates it is no longer a niche phenomenon catering to a small segment but has firmly established itself as a dominant force within the Indian retail landscape for a significant and growing share of…

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    • 27 June
      174

      Rupee rises 21 paise to 85.87 on weaker dollar; crude price and FII outflows limit gains

      The rupee strengthened by 21 paise to 85.87 against the US dollar in early trade Thursday amid global dollar weakness. Gains were capped by rising oil prices and FII outflows. Markets reacted to geopolitical stability and US economic cues. Mumbai: The rupee gained 21 paise to 85.87 against the US dollar in early trade on Thursday, mainly due to a weakened greenback in the global markets. However, a rise in global crude oil prices and FII outflows prevented sharp gains in the local unit, according to forex traders. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.27 per cent down at 97.41 after strengthening in the previous session. “The greenback clocked more losses on a…

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    • 27 June
      187

      Sensex and Nifty extend gains for third day amid Iran-Israel ceasefire optimism

      Sensex and Nifty rallied for the third straight session on Thursday, buoyed by optimism over the Iran-Israel ceasefire. Broader global cues, Asian market trends, and institutional activity also shaped the day’s momentum, with FIIs continuing to offload shares. Mumbai: Equity benchmark indices Sensex and Nifty rallied in early trade on Thursday, taking their winning momentum to the third day running, amid optimism following a ceasefire between Iran and Israel. The 30-share BSE Sensex climbed 163.27 points to 82,918.78 in early trade. The 50-share NSE Nifty went up 64.35 points to 25,309.10. Later, the BSE benchmark traded 415.98 points higher at 83,171.49, and the Nifty quoted 115.50 points up at 25,359.45. From the 30-Sensex firms, Bharat Electronics Ltd, Tata Steel, Eternal, Bharti Airtel, Bajaj…

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    • 25 June
      321

      GNG Electronics, Glottis and Amanta Healthcare get Sebi nod for IPOs

      The three firms had filed their preliminary IPO papers with Sebi during February-March. While GNG Electronics is into refurbishing laptops and desktops, Glottis is a logistics service provider and Amanta makes medical devices and sterile liquid products New Delhi: Electronics Bazaar parent company GNG Electronics, logistics service provider Glottis and pharma firm Amanta Healthcare have received Sebi’s go-ahead to raise funds through initial public offerings (IPOs). The three firms, which filed their preliminary IPO papers with Sebi during February-March, obtained their observation letters issued between June 16-20, according to an update with the regulator on Tuesday. As for GNG Electronics, the proposed IPO will be a combination of fresh issuance of equity shares worth Rs 450 crore and an offer-for-sale (OFS) of…

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    • 25 June
      340

      Centre unveils portal to promote EV car manufacturing, applications open till Oct 21

      India launched the SPMEPCI portal to attract global EV makers and boost domestic manufacturing. With reduced import duties and incentives for investment, the scheme supports clean mobility, innovation, job creation, and aims to position India as an EV manufacturing hub New Delhi: In a bid to boost the domestic manufacturing of electric vehicles (EVs), the government on Tuesday announced the portal launch of the application process under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI). Union Minister HD Kumaraswamy said that guided by the visionary leadership of Prime Minister Narendra Modi, this initiative marks a defining moment in India’s journey towards clean, self-reliant, and future-ready mobility. “The launch of this portal under the SPMEPCI scheme opens new avenues…

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