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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 -
      17 June
      175

      India’s merchandise trade deficit reduces to $21.88 billion in May

      India’s trade deficit narrowed to $21.88 billion in May 2025, helped by strong electronics exports and falling imports. Forex reserves rose to $696.66 billion, boosting the RBI’s ability to stabilize the rupee amid global uncertainty and geopolitical tensions New Delhi: India’s merchandise trade deficit declined to $21.88 billion in May this year from $26.42 billion in April, reflecting a stronger external sector, according to data released on Monday. The trade deficit was lower on a year-on-year basis as well, compared to the corresponding figure of $22.09 billion recorded in May 2024. “Despite the global policy uncertainty regarding trade, we have done extremely well,” Commerce Secretary Sunil Barthwal told journalists. He said that exports of electronic goods, including mobile phones, recorded the…

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    • 17 June
      227

      WPI inflation declines to 14-month low of 0.39 per cent in May on easing food, fuel prices

      Wholesale inflation fell to 0.39% in May due to lower food and fuel prices. However, rising crude oil prices and monsoon delays may push inflation up slightly in June. Retail inflation remains low, supporting RBI’s recent interest rate cut New Delhi: Wholesale price inflation (WPI) declined to a 14-month low of 0.39 per cent in May on easing prices of food articles and fuel, and experts said geopolitical tensions could push up prices. WPI-based inflation was 0.85 per cent in April. It was 2.74 per cent in May last year. In a statement, the industry ministry said the inflation in May is in the positive zone primarily due to “an increase in prices of manufacture of food products, electricity, other manufacturing,…

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    • 17 June
      179

      Oil prices in international market jump as Mideast tensions escalate

      Oil prices surged after Israel attacked Iran’s South Pars gas field amid escalating tensions. While analysts expect temporary price hikes, any disruption to the Strait of Hormuz or broader conflict could lead to lasting price increases New Delhi: Oil prices in the international market jumped further on Monday after the Mideast tensions escalated between Israel and Iran. Brent climbed as much as 5.5 per cent before paring most gains to trade around $75 a barrel. Israel launched an attack on the giant South Pars gas field, forcing the halt of a production platform, according to reports. According to analysts, they do not expect to see another significant leg higher in crude prices unless there are attempts to close the Strait of…

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    • 17 June
      172

      Sensex, Nifty rebound after two-day fall; Asian markets rally, crude prices rise

      Sensex and Nifty rebounded in early trade Monday after a two-day slump, tracking gains in Asian markets. Brent crude rose 0.73% amid Middle East tensions. Despite the uptick, FIIs remained net sellers, offloading ₹1,263 crore on Friday. Mumbai: Equity benchmark indices Sensex and Nifty rebounded in early trade on Monday tracking a rally in Asian markets after two days of sharp decline. The 30-share BSE Sensex climbed 288.79 points to 81,407.39 in early trade. The 50-share NSE Nifty went up by 98.9 points to 24,817.50. From the 30-Sensex firms, Power Grid, UltraTech Cement, Bharti Airtel, Larsen & Toubro, Asian Paints, NTPC, Tata Consultancy Services and Infosys were among the biggest gainers. Tata Motors, Axis Bank, Adani Ports and Kotak Mahindra Bank…

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    • 17 June
      153

      Rupee slips to 86.17 as crude oil surges, Middle East tensions rise

      The Indian rupee fell 6 paise to 86.17 against the US dollar in early trade Monday amid rising crude prices and geopolitical tensions. FII outflows also weighed on the rupee, despite gains in equities and rising forex reserves. Mumbai: Rupee declined 6 paise to 86.17 against the US dollar in early trade on Monday as global crude oil prices continued to surge amid escalating tensions in the Middle East. A strong dollar against international currencies and FII outflows further pressured the rupee, while a positive opening at the domestic equity market and an increase in the country’s forex reserves prevented further losses, according to forex traders. At the interbank foreign exchange, the local unit opened at 86.16 before falling further to…

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    • 17 June
      135

      G7 summit opening in Canada with focus on trade, wars

      As US President Donald Trump returns to Canada for this year’s G7 summit in the Rocky Mountains, world leaders aim to avoid the kind of disruption seen at the 2018 meeting, which ended in acrimony and a viral image of Trump in defiance Kananaskis: When US President Donald Trump last came to Canada for a Group of Seven summit, the enduring image was of him seated with his arms folded defiantly as then-German Chancellor Angela Merkel stared daggers at him. If there is a shared mission at this year’s G7 summit, which begins on Monday in Canada’s Rocky Mountains, it is a desire to minimise any fireworks at a moment of combustible tensions. The 2018 summit ended with Trump assailing his Canadian hosts on social media as he…

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    • 15 June
      220

      Donald Trump gives green signal for Nippon Steel investment in US Steel

      President Trump approved Nippon Steel’s investment in US Steel, with conditions to protect US national security. The $28 billion deal includes $11 billion in investments, a “golden share” for government control, and commitments to keep US operations active and American-led Washington: President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in US Steel, so long as the Japanese company complies with a “national security agreement” submitted by the federal government. Trump’s order didn’t detail the terms of the national security agreement. But the iconic American steelmaker and Nippon Steel said in a joint statement that the agreement stipulates that approximately $11 billion in new investments will be made by 2028 and includes giving…

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    • 15 June
      218

      Air India, AI Express to do away with flight number ‘171’

      The Boeing 787-8 Dreamliner aircraft that went down soon after take-off was operating the flight ‘AI 171’ from Ahmedabad to London Gatwick New Delhi: Air India and Air India Express will do away with flight number ‘171’ after the fatal crash of the Air India plane that killed 241 people onboard on Thursday, according to sources. The Boeing 787-8 Dreamliner aircraft that went down soon after take-off was operating the flight ‘171’ from Ahmedabad to London Gatwick. Sources on Saturday said it is a general practice that airlines stop using particular flight numbers after fatal flight accidents. From June 17 onwards, the flight number of Ahmedabad-London Gatwick will be ‘AI 159’ instead of ‘AI 171’. The required changes to the booking system were made on…

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    • 15 June
      216

      ITC completes buying of 24 Mantra Organic brand owner Sresta Natural

      ITC has acquired Sresta Natural Bioproducts, owner of 24 Mantra Organic, for Rs 472.5 crore. This move boosts ITC’s presence in the organic food market, offering over 100 products and connecting with 27,500 organic farmers across India New Delhi: Multi-conglomerate ITC has completed the acquisition of Sresta Natural Bioproducts, which owns the ’24 Mantra Organic brand’ in an all-cash deal valued at Rs 472.50 crore. This will help ITC to expand its play in the fast-growing organic food products segment. “The company has completed the acquisition of 100 per cent of the share capital of SNBPL on 13th June, 2025,” ITC said in a regulatory filing. On the acquisition cost, ITC said it had an upfront consideration of Rs 400 crore…

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    • 14 June
      230

      Finance Minister to review Public sector bank performance on June 27 after RBI rate cut

      to discuss host of issues, including review of financial performance and implementation of various government schemes New Delhi: Amid rate moderation by the Reserve Bank, Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on June 27 to discuss a host of issues, including review of financial performance and implementation of various government schemes. This is going to be the first review meeting after the Reserve Bank on Friday carried out a jumbo policy rate cut of 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy. The RBI’s six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting…

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