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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 -
      22 June
      250

      When ICICI Bank wanted to acquire HDFC Ltd

      ICICI Bank had offered to take over mortgage lender HDFC Ltd before its reverse merger with HDFC Bank, says former HDFC chairman Deepak Parekh New Delhi: Veteran banker and former chairman of HDFC Ltd Deepak Parekh has said that ICICI Bank had made an offer to take over mortgage lender HDFC Ltd but it was declined. HDFC Ltd, the parent entity of HDFC Bank, later merged with its banking subsidiary to create the country’s biggest private sector lender. The merger became effective from July 1, 2023. With the reverse merger, the 44-year-old institution HDFC Ltd faded into memory lane. Interestingly, creation of HDFC Ltd was financially supported by erstwhile ICICI Ltd, the parent entity of ICICI Bank. During an interaction with ex-ICICI Bank MD…

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    • 22 June
      220

      Govt launches Rs 2.3 crore startup challenge to boost rooftop solar adoption

      The Ministry of New & Renewable Energy has launched a ₹2.3-crore startup innovation challenge to accelerate rooftop solar and renewable energy solutions in India. Startups can apply by August 20 to compete for cash prizes and incubation support New Delhi: The Ministry of New & Renewable Energy (MNRE) on Saturday announced the launch of a Rs 2.3-crore startup innovation challenge with an aim to accelerate rooftop solar installation and renewable energy adoption in the country. This innovation challenge aims to identify and support breakthrough solutions for India’s rooftop solar and distributed renewable energy ecosystem, a ministry statement said. It is being implemented under the aegis of MNRE with support from the National Institute of Solar Energy (NISE), and in coordination with StartUp India,…

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    • 20 June
      243

      Bernstein sees strong rebound for Paytm, sets Rs 1,100 target with 27 per cent upside

      Global investment firm Bernstein has reaffirmed an ‘Outperform’ rating on Paytm, setting a target price of Rs 1,100. The report highlights Paytm’s recovery post-2024 regulations, strong merchant business, and growth potential driven by lending, cost control, and possible regulatory approvals. New Delhi: Global investment firm Bernstein, in its latest research report titled ‘Paytm: What Do You Need to Believe Now?’ has reaffirmed an ‘Outperform’ rating on One97 Communications Ltd (Paytm), setting a target price of Rs 1,100, which implies a 27 per cent upside from current levels. According to Bernstein, “Paytm has shown remarkable resilience, recovering from the regulatory actions of early 2024 to once again near break-even,” with the report noting that many concerns around the sustainability of its business…

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    • 20 June
      209

      Siemens Energy India lists on bourses

      While Germany-based Siemens AG and its subsidiaries hold 69 per cent stake in SEIL, subsidiaries of Siemens Energy AG hold 6 per cent, with the remainder in free float New Delhi: Siemens Energy India Ltd (SEIL) got listed on stock exchanges BSE and NSE on Thursday. While Germany-based Siemens AG and its subsidiaries hold 69 per cent stake in SEIL, subsidiaries of Siemens Energy AG hold 6 per cent, with the remainder in free float. Siemens Energy shares opened at Rs 2,850 apiece on the BSE, and hit 5 per cent upper circuit Rs 2,992.45. The stock dropped 5 per cent from listing price and touched a low of Rs 2,707.50 per share. On the NSE, the shares were listed at…

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    • 20 June
      237

      Vedanta contributes Rs 4.5 lakh crore to government in 10 years, Rs 55,349 crore in FY25

      A significant portion of the contribution came from Vedanta’s Rajasthan and Odisha operations, reflecting its focus on transparent and responsible governance New Delhi: Anil Agarwal-led Vedanta Ltd has contributed Rs 4.5 lakh crore to the government exchequer over the past decade, according to its latest Tax Transparency Report (TTR), reaffirming the company’s commitment to transparent and responsible tax practices. The report states that Vedanta has “contributed Rs 4,48,830 crore to the exchequer across its domestic and international operations from FY2015- 16 to FY2024- 25.” In FY25 alone, Vedanta contributed Rs 55,349 crore — accounting for 37 per cent of its consolidated revenue — through direct and indirect taxes, royalties, dividends, and other statutory payments. Of this, Rs 54,595 crore went directly to the…

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    • 20 June
      210

      Amazon India to invest over Rs 2,000 crore in 2025 to bolster operations network

      The move aims to enhance speed, efficiency, and customer experience across the country’s serviceable pin codes. New Delhi: Amazon on Thursday said it will invest over Rs 2,000 crore ($233 million) in 2025 to expand and upgrade operations infrastructure, improve associate safety and well-being programmes, along with developing new tools and technology for its fulfillment network. The new investment builds on top of Amazon’s investments in creating an operations network that helps the company deliver to all serviceable pin-codes across the country, the company said in a statement. “For over a decade now in India, we have been focused on building the best-in-class logistics infrastructure — designed to deliver with safety, speed, scale, and reliability for our customers across the country,”…

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    • 20 June
      226

      Indian-owned companies in UK jump 23% to 1,197, fueling jobs and revenue growth

      Indian-owned companies in the UK have surged to 1,197 in 2025, up 23% from last year, with revenues hitting £72.14 billion. The TMT sector leads, and Wipro tops growth rankings with a 448% revenue increase, the latest report shows. New Delhi: In a sign of growing UK-India economic partnership, there are now 1,197 Indian-owned companies operating in Britain, an increase of over 23 per cent from 2024 when 971 were recorded, according to a report released on Thursday. This is the highest number identified and the largest year-on-year increase since Grant Thornton began tracking exact total numbers in 2017. The combined revenues reported by Indian-owned companies in the UK increased to 72.14 billion pounds from 68.09 billion pounds in 2024. These…

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    • 20 June
      171

      Sensex, Nifty open lower amid global weakness; volatility persists on geopolitical concerns

      Indian benchmark indices Sensex and Nifty opened lower on Thursday due to weak global trends and escalating tensions in the Middle East. After early losses, both indices turned flat amid volatility. Crude prices, Fed signals, and FII flows influenced investor mood. Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Thursday in-line with weak trends from global markets as the ongoing Iran-Israel conflict continue to weigh on investors’ sentiment. The 30-share BSE Sensex declined 253.62 points to 81,191.04 in early trade. The 50-share NSE Nifty dropped 73.95 points to 24,738.10. However, later both the benchmark indices faced heavy volatility and were trading flat. The BSE benchmark traded 39.09 points higher at 81,483.75, and the Nifty quoted 22.70 points up…

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    • 20 June
      159

      Rupee weakens 14 paise to 86.57 amid global uncertainties and firm dollar demand

      The Indian rupee fell 14 paise to 86.57 against the US dollar on Thursday, pressured by global risk-off sentiment, strong dollar demand from oil importers, and elevated crude prices. The US Fed kept rates unchanged, projecting two future cuts. Mumbai: The rupee depreciated 14 paise to 86.57 against the US dollar in early trade on Thursday, as safe-haven demand amid prevailing risk-off sentiments pushed the dollar index higher. Forex traders said geopolitical uncertainties, prevailing risk-off sentiments, and elevated crude oil prices collectively pressured the local currency, while robust dollar demand from oil importers dented investment sentiments further. At the interbank foreign exchange, the domestic unit opened at 86.54 against the greenback, then touched an early high of 86.49 and a low…

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    • 19 June
      195

      Standard Chartered under RBI lens?

      According to reports, the Reserve Bank of India has raised concerns following alleged sales by Standard Chartered to small and medium-sized enterprises of target redemption forwards, ‘a product that can cause significant losses’ New Delhi: After reports surfaced that Standard Chartered is facing RBI regulatory scrutiny in India over alleged lapses in derivatives sales, the lender on Wednesday said the Reserve Bank conducts annual inspections of banks, and this is just part of a routine examination. According to reports, the central bank raised concerns following alleged sales by the lender to small and medium-sized enterprises of target redemption forwards, “a product that can cause significant losses”.The RBI also raised issues regarding the bank’s maintenance of reserves and the accounting treatment of forward rate…

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