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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

    • May- 2025 -
      28 May
      228

      Relocation of existing HAL facility is not acceptable to Karnataka: Minister M B Patil

      Karnataka Minister for Large and Medium Industries M B Patil said there is nothing wrong in setting up a HAL unit in Andhra, but the relocation of the existing HAL facility is not acceptable Bengaluru: Following rumours that Andhra Pradesh Chief Minister Chandrababu Naidu has sought for relocation of the Hindustan Aeronautics Limited (HAL), the premier defence manufacturing industry run by the Centre and based in Bengaluru, Karnataka Minister for Large and Medium Industries M B Patil said on Monday there is nothing wrong in setting up a HAL unit in Andhra, but the relocation of the existing HAL facility is not acceptable. Minister Patil said that he would soon visit Delhi and meet Defence Minister Rajnath Singh to strongly urge…

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    • 28 May
      222

      Radico Khaitan’s ‘Trikal’ brand liquor draws ire of religious gurus, Hindu organisations

      The company, Radico Khaitan, has used the name ‘Trikal’ on its IMFL on its single malt bottle priced at Rs 3,500- Rs 4,500. The whisky bottle with a teal label also carries a line-drawn figure of a face with closed eyes and a circle on the forehead – allegedly similar to Lord Shiva’s third eye New Delhi: Religious gurus, Sanatan Dharam organisations and politicians on Monday lashed out at a liquor company for naming a product as ‘Trikal’, demanding withdrawal of the product, which is hurting religious sentiments as its name refers to the Hindu deity Shiva. The company, Radico Khaitan, has used the name ‘Trikal’ on its Indian Made Foreign Liquor (IMFL) on its single malt bottle priced at Rs…

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    • 28 May
      206

      Hyundai Motor Group unveils $91.4 million startup investment fund

      The Hyundai group’s third fund under its ZER01NE accelerator program has been set up at a scale of 125 billion won (US$91.4 million), with financial participation from group affiliates Seoul: Hyundai Motor Group said on Monday it has established its third startup investment fund to support innovative venture companies with cutting-edge technologies and ideas. The group’s third fund under its ZER01NE accelerator program has been set up at a scale of 125 billion won (US$91.4 million), with financial participation from group affiliates, reports Yonhap news agency. Hyundai Motor Co. and Kia Corp. each invested 40 billion won, while Hyundai Motor Securities Co. contributed 10 billion won. Additional investments came from seven other units, including Hyundai Mobis Co., Hyundai Glovis Co. and…

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    • 28 May
      267

      Reliance Jio seeks DoT approval to use 26 GHz band spectrum for WiFi

      According to sources, Jio has approached TEC – the technical arm of the Department of Telecommunications (DoT) – seeking approval to use radiowaves in the 26 GHz band for WiFi services New Delhi: Reliance Jio has approached the telecom department’s Telecommunication Engineering Centre (TEC) to seek approval to use radiowaves in a 26 GHz band for WiFi services. The request was made last week, sources said. According to sources, Jio has approached TEC – the technical arm of the Department of Telecommunications (DoT) – seeking approval to use radiowaves in the 26 GHz band for WiFi services. An email sent to Jio did not elicit a response. It is pertinent to mention that the Notice Inviting Application (NIA) or the bid…

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    • 26 May
      281

      India has become 4th largest economy, overtaking Japan: NITI CEO BVR Subrahmanyam

      Subrahmanyam said the overall geopolitical and economic environment is favourable to India. “We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak,” he said New Delhi: India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam has said. Subrahmanyam said the overall geopolitical and economic environment is favourable to India. “We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak,” he said. Citing IMF data, Subrahmanyam said India today is larger than Japan. Till 2024, India was the fifth-largest economy in the world. “It is only the US, China and Germany which are larger than India,…

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    • 26 May
      192

      India, Maldives to review implementation of economic, maritime security partnership on May 26

      EAM S Jaishankar and his Maldivian counterpart Abdulla Khaleel will take stock of the implementation of the India-Maldives comprehensive economic and maritime security partnership New Delhi: External Affairs Minister S Jaishankar and his Maldivian counterpart Abdulla Khaleel will on Monday take stock of the implementation of the India-Maldives comprehensive economic and maritime security partnership. Khaleel, accompanied by a high-level delegation, is paying a three-day visit to India beginning Sunday evening. It is his third trip to India this year. The India-Maldives vision document on comprehensive economic and maritime security partnership was adopted by Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu in October last year. Foreign Minister Khaleel’s visit is in continuation of “intensified high-level political exchanges” between India and…

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    • 26 May
      222

      PNB targets Rs 16,000 cr recovery, aims to keep slippages below 1 per cent in FY26: MD Ashok Chandra

      The total recovery of the PNB stood at Rs 4,733 crore for the fourth quarter and Rs 14,336 crore for FY25, while overall slippage ratio was 0.73 per cent during the last financial year New Delhi: Punjab National Bank (PNB) is targeting a significant recovery of Rs 16,000 crore and aims to keep slippages below 1 per cent in the current fiscal year to sustain profitability, the top official of the country’s second biggest state-owned lender said. The total recovery of the bank stood at Rs 4,733 crore for the fourth quarter and Rs 14,336 crore for FY25, while overall slippage ratio was 0.73 per cent during the last financial year. “Going forward, maximisation of recovery and preventing fresh slippages are…

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    • 26 May
      245

      Government-owned ONGC strikes more oil & gas in Mumbai offshore basin

      The discoveries, which have been named ‘Suryamani’ and ‘Vajramani’, have been struck in blocks awarded under the Open Acreage Licensing Policy (OALP) regime, the ONGC said New Delhi: Government-owned Oil and Natural Gas Corporation (ONGC) has made new oil and gas discoveries in the Mumbai Offshore hydrocarbon basin that are expected to enhance the production of the upstream oil giant in the near future. The discoveries, which have been named ‘Suryamani’ and ‘Vajramani’, have been struck in blocks awarded under the Open Acreage Licensing Policy (OALP) regime, the ONGC said in a statement issued as part of its January-March quarterly financial results. Exploratory well MBS202HAA-1 on Block MB-OSHP-2020/2 yielded 2,235 barrels per day of oil and 45,181 million cubic metres a…

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    • 26 May
      245

      More limited edition trims to debut in Indian market: Range Rover MD Martin Limpert

      The Range Rover brand is looking at enhancing its presence as it anticipates growth in the Indian market, with the number of high-net-worth individuals expected to rise at a fast clip by the end of this decade Gaydon (UK): India could see the introduction of more Range Rover limited edition trims, specially curated for the country, to cater to the diverse set of customers in the market, according to a top company executive. The brand is looking at enhancing its presence as it anticipates growth in the Indian market, with the number of high-net-worth individuals expected to rise at a fast clip by the end of this decade. In an interaction with PTI here, the global Managing Director of the Range…

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    • 26 May
      191

      Airtel approaches Jio, VIL on joint telecom initiative against rising telecom fraud and scams

      Airtel has also urged all telcos to collaborate and collectively address the growing threat of deceptive and malicious scams targeting vulnerable individuals New Delhi: Airtel has informed the government and regulator Trai that it has approached Reliance Jio and Vodafone Idea with a proposal for a joint initiative to unite the industry against rising telecom fraud and scams. Airtel has also urged all telcos to collaborate and collectively address the growing threat of deceptive and malicious scams targeting vulnerable individuals. In separate letters to the telcos, it cited data that India recorded over 1.7 million cybercrime complaints in the first nine months of 2024, resulting in financial losses exceeding Rs 11,000 crore. The call for action comes at a time when…

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