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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 -
      7 June
      201

      Rupee trades flat with mild volatility ahead of RBI rate decision

      The rupee moved in a narrow range in early trade on Friday, ahead of the RBI’s monetary policy announcement. Forex markets remained cautious amid expectations of a rate cut. The currency opened lower but recovered slightly against the US dollar. Mumbai: The rupee witnessed range-bound trading in the morning session on Friday, ahead of the Reserve Bank’s monetary policy outcome. Forex traders said market participants are keenly awaiting the outcome of the Reserve Bank of India’s monetary policy meeting for further cues. The RBI’s rate-setting panel started its three-day brainstorming on monetary policy on Wednesday, and the outcome is scheduled to be announced in a short while. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at…

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    • 7 June
      232

      Sensex, Nifty slip ahead of RBI policy outcome; foreign fund outflows weigh on sentiment

      Equity benchmarks Sensex and Nifty fell in early trade on Friday ahead of the RBI’s monetary policy announcement. Weak global cues and foreign fund outflows weighed on investor sentiment. Focus remains on interest rate direction and FY26 growth outlook. Mumbai: Benchmark equity indices Sensex and Nifty declined in early trade on Friday ahead of the RBI monetary policy outcome. Moreover, a sluggish trend in global equity markets and fresh foreign fund outflow also drove investors to stay on the sidelines. The 30-share BSE Sensex declined 159.93 points to 81,282.11 in early trade. The 50-share NSE Nifty dropped 27.65 points to 24,723.25. From the Sensex firms, Tata Motors, Bajaj Finance, ICICI Bank, Bajaj Finserv, Reliance Industries and Bharti Airtel were among the…

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    • 7 June
      152

      Investors dump Tesla on bet Trump may lash out at Musk

      Shares of Elon Musk’s electric vehicle maker plunged more than 14% in a stunning wipe-out as investors dumped holdings amid a bitter war of words between the President and the world’s richest man Washington: Investors bought hundreds of billions of dollars of Tesla stock after Donald Trump was elected on a bet that politics were more important than profits. In three hours on Thursday, they learned yet again how dangerous that gamble could be. Shares of Elon Musk’s electric vehicle maker plunged more than 14% in a stunning wipe-out as investors dumped holdings amid a bitter war of words between the President and the world’s richest man. By the end of the trading day, $150 billion of Tesla’s value had been erased, more than what it would take to buy all the shares of Starbucks and hundreds…

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    • 6 June
      219

      Hiring of staff in India’s services sector at all-time high in May

      The seasonally adjusted HSBC India Services PM Business Activity Index registered 58.8 in May, broadly in line with April’s reading of 58.7 New Delhi: Driven by a strong demand for exports, India’s services sector activity kept up its high pace of growth in May. According to the latest HSBC survey, It also saw hiring of staff by firms surge to an all-time high during the month. Registering 58.8 in May, the seasonally adjusted HSBC India Services PM Business Activity Index which is based on a single question asking how the level of business activity compares with the situation the month before, was broadly in line with April’s reading of 58.7 (PMI) and therefore signalled another sharp rate of expansion. Growth was…

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    • 6 June
      218

      Hyderabad-based Dhruva Space enters strategic partnership with French Sodern ArianeGroup

      Dhruva Space has partnered with France-based Sodern ArianeGroup to deploy the HORUS star tracker on a 2026 mission. The collaboration will use Dhruva’s modular nanosatellite platform and marks a significant Indo-French advancement in satellite-based attitude determination technology. Hyderabad: Hyderabad-based Dhruva Space, a full-stack Space Engineering solutions provider in India, on Thursday announced strategic partnership with France-based Sodern ArianeGroup, a global leader in optical and inertial instrumentation for Space and Defence sectors. As part of the strategic collaboration, under Dhruva Space’s flagship Launching Expeditions for Aspiring Payloads (LEAP) initiative, Sodern will deploy its next-generation HORUS star tracker on a Dhruva Space-hosted payload mission scheduled for launch in 2026. The HORUS payload will be integrated onto Dhruva Space’s indigenously-developed P-30 nanosatellite platform, featuring…

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    • 6 June
      228

      Rupee weakens past 85.95 as dollar demand rises ahead of RBI policy outcome

      The rupee slipped 9 paise to 85.96 against the US dollar in early trade on Thursday amid strong dollar demand from importers and FIIs. Markets await RBI’s policy decision, while rising crude prices add pressure on India’s currency outlook. Mumbai: The rupee depreciated 9 paise to 85.96 against the US dollar in early trade on Thursday, weighed down by dollar demand from foreign investors, oil companies, and importers. Forex traders said market participants are now keenly awaiting the outcome of the Reserve Bank of India’s monetary policy meeting for further cues. The Reserve Bank’s rate-setting panel started its three-day brainstorming on monetary policy on Wednesday, and the outcome is scheduled to be announced on June 6. At the interbank foreign exchange,…

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    • 6 June
      246

      Sensex, Nifty rise in early trade on Reliance buying, foreign inflows

      Benchmark indices Sensex and Nifty opened higher on Thursday, supported by gains in Reliance Industries and foreign institutional inflows. A firm trend in Asian markets also lifted investor sentiment. FIIs were net buyers, infusing Rs 1,076 crore into domestic equities. Mumbai: Benchmark equity indices Sensex and Nifty rallied in early trade on Thursday driven by buying in blue-chip stock Reliance Industries and fresh foreign fund inflows. Moreover, a largely firm trend in Asian markets also added to the positivity in domestic equities, analysts said. The 30-share BSE Sensex climbed 197.83 points to 81,196.08 in opening trade. The NSE Nifty went up by 71 points to 24,691.20. From the Sensex firms, Eternal, Power Grid, Reliance Industries, Sun Pharm, Mahindra & Mahindra, HCL…

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    • 6 June
      209

      Adani Group’s tax payments rise 29 per cent to Rs 75,000 crore in FY25

      The Rs 74,945 crore tax outgo in FY25 is roughly the cost of building the entire Mumbai Metro network – an infrastructure lifeline for millions of people. It’s also nearly enough to host a modern-day Olympics. New Delhi: Ports-to-energy conglomerate Adani Group saw a 29 per cent rise in tax outgo across portfolio companies to nearly Rs 75,000 crore, it said on Thursday. This includes both direct and indirect taxes paid, as well as payments towards employee social security. “For fiscal year 2025 (April 2024 to March 2025 financial year), the Adani Group’s total contribution to the exchequer increased by 29 per cent to Rs 74,945 crore, from Rs 58,104 crore in FY 2023-24, through its portfolio of listed entities,” it…

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    • 5 June
      219

      India can increase imports of shale gas, LNG, crude oil from US

      India’s exports to the US are rising, and it can increase imports of products like shale gas, LNG, and crude oil from America to diversify its import basket, as prices of these items are lower in the US, an official said New Delhi: India’s exports to the US are rising, and it can increase imports of products like shale gas, LNG, and crude oil from America to diversify its import basket, as prices of these items are lower in the US, an official said. Teams of both countries will start next round of talks this week here on the proposed bilateral trade agreement. Though India is looking for a balanced and mutually beneficial trade agreement with the US, “what we get…

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    • 5 June
      345

      RBI’s monetary policy panel starts deliberations; decision on June 6

      The decision of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Sanjay Malhotra, will be announced on June 6 Mumbai: The Reserve Bank’s rate-setting panel started its three-day brainstorming on monetary policy as expectations are high of a 25 bps or even a jumbo 50 bps rate cut to fuel economic growth amid uncertainties created by Trump’s tariff moves. The decision of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Sanjay Malhotra, will be announced on Friday. The RBI reduced the key interest rate (repo) by 25 bps each in February and April, bringing it to 6 per cent. This could be the third back-to-back reduction in the short-term benchmark lending rate. In response to the 50-bps…

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