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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 -
      19 June
      184

      SpaceX chief appreciates license granted to Starlink in India, says Jyotiraditya Scindia

      Union Minister Jyotiraditya Scindia met SpaceX COO Gwynne Shotwell, who welcomed India’s approval of Starlink’s satcom licence. Starlink joins OneWeb and Jio-SES in offering satellite internet, aiming to boost connectivity in remote areas under Digital India initiatives New Delhi: Union Communications Minister Jyotiraditya Scindia has said that he held a “productive meeting” with Gwynne Shotwell, president and chief operating officer of Elon Musk-owned SpaceX, who appreciated the licence granted to the affordable satellite internet service Starlink in the country. Starlink provides high-speed internet access to remote locations using low Earth orbit satellites. “Had a productive meeting with @Gwynne_Shotwell, President & COO of @SpaceX, on India’s next frontier in connectivity. We delved into opportunities for collaboration in satellite communications to power Digital…

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    • 19 June
      144

      Jio Financial buys 17.8 per cent stake of SBI in Jio Payments Bank for Rs 105 crore

      Jio Financial Services acquired SBI’s 17.8 per cent stake in Jio Payments Bank for Rs 104.54 crore, making it a wholly-owned subsidiary. The deal received RBI approval on June 4, consolidating JFSL’s ownership from 82.17 per cent to 100 per cent New Delhi: Jio Financial Services Ltd (JFSL) on Wednesday said it has acquired the entire 17.8 per cent stake of State Bank of India in Jio Payments Bank Ltd for a consideration of Rs 104.54 crore. With the stake buy, Jio Payments Bank becomes a wholly-owned subsidiary of JFSL. The company acquired 7,90,80,000 equity shares of Jio Payments Bank from SBI for an aggregate consideration of Rs 104.54 crore pursuant to the approval received from Reserve Bank of India on June 4, JFSL said…

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    • 19 June
      160

      Piyush Goyal in London to finalise FTA, ways to promote trade, investment

      Commerce Minister Piyush Goyal is in London to finalise the India-UK Free Trade Agreement. He’ll meet key UK officials and business leaders to boost trade, investment, and collaboration in sectors like manufacturing, fintech, and creative industries New Delhi: Commerce and Industry Minister Piyush Goyal is in London on a two-day official visit to discuss issues related to the implementation of the Free Trade Agreement (FTA) and explore ways to boost trade and investment between the two countries, an official statement said on Wednesday. During the visit, Goyal will hold a bilateral meeting with the UK Secretary of State for Business and Trade, Jonathan Reynolds. “Both leaders will review the progress made in the ongoing FTA negotiations and chart out a clear,…

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    • 19 June
      153

      Rupee trades in narrow range as crude prices rise and risk-off sentiment persists

      rupee vs dollar, USDINR rate, Indian rupee today, crude oil price, forex market India, dollar index, Israel Iran conflict, FII inflows, Sensex Nifty update, Amit Pabari forex Mumbai: The rupee traded in a narrow range against the US dollar in early trade on Wednesday as the prevailing risk-off sentiments, and rising crude oil prices weighed on the local unit. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at 86.42 against the greenback, then touched an early high of 86.25 against the greenback in initial trade. On Tuesday, the rupee declined 30 paise to close at 86.34 against the greenback. Forex traders said geopolitical uncertainties, prevailing risk-off sentiments, and rising crude oil prices, collectively pressured the local…

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    • 19 June
      183

      Sensex and Nifty rebound on FII inflows, Reliance and ICICI Bank buying

      Benchmark indices Sensex and Nifty rebounded on Wednesday after an early dip, driven by fresh foreign fund inflows and gains in blue-chip stocks like Reliance and ICICI Bank. Strong liquidity and optimism around earnings supported the positive sentiment in the markets. Mumbai: Benchmark indices Sensex and Nifty bounced back after falling in opening trade on Wednesday amid fresh foreign fund inflows and buying in blue-chip stocks Reliance Industries and ICICI Bank. Despite a weak beginning to the trade, the 30-share BSE Sensex later rebounded and went up by 93.05 points to 81,676.35. The 50-share NSE Nifty edged higher by 42.80 points to 24,896.20. Later, the BSE benchmark traded 228.13 points higher at 81,812.04, and the Nifty climbed 82.25 points to 24,937.70.…

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    • 18 June
      284

      South City Mall sold to Blackstone for Rs 3,250 crore mega deal

      Anarock was the sole transaction advisor in the deal. South City Mall spans over one million (10 lakh) square feet, and the asset generates an average annual turnover of over Rs 1800 crore. Mumbai: Global investment firm Blackstone has acquired South City Mall, comprising 10 lakh sq ft retail area, in Kolkata for Rs 3,250 crore. In a statement on Tuesday, real estate consultant Anarock said it has “successfully advised on Blackstone’s acquisition of South City Mall in Kolkata”. “Blackstone has acquired this prime asset for a transaction value of Rs 3,250 crore”, it added. Anarock was the sole transaction advisor in the deal. South City Mall spans over one million (10 lakh) square feet, and the asset generates an average annual turnover…

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    • 18 June
      245

      Google’s move to make India’s digital space safer

      The company during the Google India Summit unveiled Safety Charter which is built around three key goals — keeping internet users safe from scams and frauds, strengthening cybersecurity for governments and businesses and building responsible AI systems New Delhi: Google on Tuesday announced a major initiative to make India’s digital space safer by unveiling its new Safety Charter during the Safer with Google India Summit. The initiative is focused on protecting users from online fraud, boosting cybersecurity for critical infrastructure and ensuring that AI is developed responsibly. This Safety Charter is built around three key goals — keeping internet users safe from scams and frauds, strengthening cybersecurity for governments and businesses and building responsible AI systems that protect people. Google’s ‘Digikavach’…

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    • 18 June
      252

      India emerges as a global investment star in Q3 2025 with projected 6.2% GDP growth

      HSBC Global Private Banking highlights robust domestic consumption, favorable trade dynamics, and strategic investment opportunities in Indian equities and bonds amid global market volatility New Delhi: India continues to shine as a highly attractive destination for global investments in the third quarter of 2025. According to an HSBC Global Private Banking report, India is on track to become the fastest-growing major economy, with GDP expected to reach 6.2% in 2025. Investment Focus: The HSBC report maintains a mild overweight position on Indian equities and local currency bonds. Within the realm of equities, the focus is on large-cap stocks and sectors with strong domestic orientations. In particular, the financials, healthcare, and industrial sectors have been highlighted as areas with significant potential. This selective…

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    • 18 June
      306

      Vishal Mega Mart shares decline after Rs 10,488 crore block deal

      Vishal Mega Mart’s stock fell after a big Rs 10,488 crore block deal by promoter Samayat Services. The sale followed the end of a lock-in period. Though shares dropped, experts say the company remains strong, urging short-term caution Mumbai: The stock of Vishal Mega Mart on Tuesday saw a sharp decline of nearly 8 per cent in the early trade after a block deal. The drop came after a massive block deal worth Rs 10,488 crore in the stock market. The deal was carried out at an average price of Rs 115 per share, which was about 8 per cent lower than the previous day’s closing price of Rs 124.90. As of 1:15 PM, the stock had recovered slightly but was…

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    • 17 June
      213

      UPI transactions set to become faster from June 16

      From June 16, UPI payments will process faster, completing within 10–15 seconds. NPCI also set a 50-times daily limit for balance checks and tightened beneficiary name rules to boost security and user experience in India’s growing digital payment space New Delhi: Transactions through the popular UPI are set to become faster from Monday with National Payments Corporation of India (NPCI) mandating a reduction in response time to as swift as 10 seconds for payments. UPI or Unified Payments Interface is a real-time payment system developed by NPCI to facilitate inter-bank transactions through mobile phones. According to a recent NPCI circular, transactions including money transfer, status checks, and reversals will now be completed in 10 to 15 seconds, as against 30 seconds.…

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