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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 -
      25 June
      320

      Gautam Adani hails Indian Armed Forces for successfully performing ‘Operation Sindoor’

      Gautam Adani praised Indian Armed Forces for Operation Sindoor against terror sites, highlighting Adani Defence’s role with drones. He honoured their sacrifices and mourned the Air India crash victims. He emphasised that peace is earned through bravery and vigilance Ahmedabad: Gautam Adani, the Chairman of the Adani Group, on Tuesday hailed the Indian Armed Forces for successfully performing ‘Operation Sindoor’, saying their courage reminded us that peace is never free and is rather earned. Addressing the Adani Enterprises’ Annual General Meeting (AGM), the Chairman said that during ‘Operation Sindoor’, “our brave men and women in uniform stood tall, not for fame, not for medals, but for duty”. “Their courage reminded us that peace is never free. It is earned. And the…

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    • 25 June
      295

      Adani Airports secures $1 billion from global investors for Mumbai International Airport upgrade

      Adani Airports has raised $1 billion in project finance for Mumbai International Airport via global investors, marking India’s first IG-rated private bond in airport infrastructure. The funds will support capacity upgrades, modernisation, and MIAL’s net-zero emissions goal by 2029. Mumbai: Adani Airports Holdings Limited (AAHL) on Tuesday said it has successfully secured $1 billion financing through a project finance structure for its Mumbai International Airport Ltd (MIAL). The transaction involves issuance of $750 million notes maturing July 2029 which would be used for refinancing. The financing structure also includes provision to raise an additional $250 million, resulting in total financing of $1 billion. This framework will provide enhanced financial flexibility for the capital expenditure program of MIAL for development, modernisation, and capacity enhancement,…

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    • 24 June
      201

      Iran-Israel conflict: Rice exporters stare at major disruptions, payment delays

      Basmati exporters in Haryana face severe disruptions due to the Iran-Israel conflict, with 1 lakh tonnes stuck at ports and payments worth up to Rs 2,000 crore delayed. Trade risks have surged amid lack of insurance, affecting prices and exporter confidence Chandigarh: With the escalation of Iran-Israel conflict, rice exporters in Haryana — which accounts for 30 per cent of the country’s basmati rice shipments to Iran — are struggling with major disruptions in ship movements and payment delays. While Karnal is the main hub of basmati exports, Kaithal and Sonipat also contribute to the foreign demand. “The ongoing Iran-Israel conflict has impacted the trade,” said Sushil Jain, Rice Exporters Association’s state unit president. “Nearly 10 lakh metric tonnes of Basmati…

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    • 24 June
      151

      SBI to train its employees to help deepen their financial understanding; to have bi-weekly yoga sessions

      SBI will train its 2.36 lakh employees in financial planning through a tie-up with FPSB India, enhancing customer service and financial literacy. The bank also launched year-round virtual yoga sessions to promote holistic employee well-being and a mindful work culture Mumbai: Country’s largest lender SBI on Monday announced that it will train all its 2.36 lakh employees to help deepen their financial understanding. Additionally, as part of the overall well-being, the bank will also have virtual yoga sessions twice a week throughout the year, an official statement said. The state-run bank has tied up with FPSB India to integrate ‘Certified Financial Planner’ certification into its employee learning and development framework, according to another statement. A memorandum of understanding has been signed…

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    • 24 June
      172

      India’s export sector stands strong amid rising geopolitical tensions says FIEO

      Despite Middle East tensions, India’s export sector remains resilient. FIEO notes minor disruptions in Gulf trade, but exporters are adapting through diversification and logistics management. Crude volatility is a concern, but support from the government and RBI ensures macroeconomic stability New Delhi: While geopolitical tensions in the Middle East, including the ongoing Iran-Israel conflict, pose certain challenges to global trade dynamics, India’s export sector remains resilient and adaptive, the Federation of Indian Export Organisations (FIEO) said on Monday. The country’s trade with both Iran and Israel, while important, constitutes a small share of the overall export-import basket. “The government and industry are jointly monitoring developments to ensure minimal disruption,” FIEO President S C Ralhan said. “We do anticipate some short-term impact…

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    • 24 June
      169

      Saudi Arabia, Russia offer oil supply continuity for India

      India faces crude supply risks due to Strait of Hormuz tensions, but Saudi’s Red Sea route and rising Russian, US, and Latin American oil imports reduce disruption chances. Full closure is unlikely, though short-term delays and freight hikes are expected New Delhi: For India, which reportedly holds crude reserves for 90 days, Saudi Arabia’s ability to reroute crude exports via the Red Sea offers a layer of supply continuity amid the Strait of Hormuz uncertainty, according to a report on Monday. While India sources 18–20 per cent of its crude from Saudi Arabia, the Petroline-Yanbu corridor ensures that a significant portion of these volumes could still reach Indian refiners even if the Hormuz route is disrupted. “Although some logistical constraints and…

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    • 23 June
      360

      Coal India arm Central Coalfields plans to bring 2 new mines into production

      Central Coalfields Ltd plans to open two new coal mines, aiming to boost production to 110 million tonnes this year and 150 million tonnes by 2030. It will also build four new washeries to improve coal quality for industrial use Ranchi: Coal India arm Central Coalfields Ltd plans to bring two new coal mines into production in the current financial year which would ramp up its capacity by 10-12 million tonnes per annum, a top official said on Sunday. The move assumes significance as Central Coalfields Ltd (CCL) aims to cross 110 million tonnes production in the current financial year and 150 million tonnes by 2030. “We have planned to open two new mines this year,” CCL Chairman and Managing Director…

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    • 23 June
      331

      SEBI clears path for NSE IPO, says no more obstacles

      SEBI Chairman Tuhin Kanta Pandey said there are no remaining obstacles to the NSE’s IPO, pending submission of its DRHP. SEBI is also tightening scrutiny on market manipulation in SME IPOs and derivatives, promising strict action against irregularities Mumbai: There is no obstacle remain for the National Stock Exchange (NSE) to proceed with its much-awaited IPO plans, SEBI Chairman Tuhin Kanta Pandey has said. Speaking at the FE CFO Awards here, Pandey said there is no obstacle that will remain in the case of NSE IPO. However, when asked whether the NSE IPO could see the light of the day ahead of Diwali this year, the markets regulator chief declined to comment on any timeline. Earlier this month, Ashish Kumar Chauhan,…

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    • 23 June
      289

      Net direct tax collections dip 1.39% to Rs 4.59 lakh crore on higher refunds

      India’s net direct tax collection fell 1.39% to ₹4.59 lakh crore so far this fiscal due to slower advance tax inflows and a surge in refunds. Corporate tax collections declined over 5%, while STT registered a 12% increase New Delhi: Net direct tax collection so far this fiscal dipped 1.39 per cent to Rs 4.59 lakh crore, on slowdown in advance tax mop-up and higher refunds, government data released on Saturday showed. Advance tax, which is an indicator of corporate profitability and income of individuals, grew a meagre 3.87 per cent to Rs 1.56 lakh crore between April 1-June 19, 2025. In the comparable period in 2024, advance tax collection had recorded an annual growth of 27 per cent. Advance tax paid…

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    • 23 June
      371

      NTPC board approves plan to issue NCDs worth Rs18,000 crore

      NTPC’s board has approved raising up to ₹18,000 crore via non-convertible debentures (NCDs) or bonds through private placement in the domestic market. Shareholders’ approval will be sought through a postal ballot, and funds will be raised in up to 12 tranches New Delhi: State-run power giant National Thermal Power Corporation (NTPC) board on Saturday approved the proposal to raise up to Rs 18,000 crore through the issuance of NCDs or bonds on private placement in the domestic market. The board of directors of the company in its meeting on Saturday also considered and approved the draft notice of postal ballot in respect of seeking approval of shareholders of the company for issue of these non-convertible debentures (NCDs), as per a regulatory filing.…

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