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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 -
      25 May
      209

      Piyush Goyal meets EU counterpart for second time in a month on FTA talks

      Goyal travelled to Brussels on May 23 from Washington, while India’s chief negotiator L Satya Srinivas and his team are already at the EU headquarters for the FTA negotiations New Delhi: Commerce and Industry Minister Piyush Goyal has met European Commissioner for Trade Maros Sefcovic in Brussels, their second meeting within a month, to discuss the proposed free trade agreement (FTA), currently under negotiation between the two regions. Goyal travelled to Brussels on May 23 from Washington, while India’s chief negotiator L Satya Srinivas and his team are already at the EU headquarters for the FTA negotiations. The Indian minister held meetings with his EU counterpart earlier this month. “Delighted to welcome my friend and counterpart @PiyushGoyal. We continue to make…

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    • 25 May
      198

      India emerges as global iPhone hub as Apple boosts manufacturing amid global shifts

      “India is rapidly emerging as a global center for high-tech manufacturing, driven by progressive initiatives like the Production Linked Incentive (PLI) scheme and the consistent efforts of the Indian government,” Chandrasekhar stated in a post on X. New Delhi: Apple’s decision to expand iPhone manufacturing in India despite challenges shows the growing global confidence in the country’s manufacturing ecosystem, BJP’s Kerala unit President and former Union Minister Rajeev Chandrasekhar, has said. By the end of 2025, about 25 per cent of all iPhones will be made in India, up from virtually zero a few years ago, when China dominated Apple’s supply chain. “Thanks to forward-thinking policies like the Production Linked Incentive (PLI) scheme and sustained efforts by the Indian government, India…

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    • 25 May
      199

      Six-member board to regulate payment systems in India, government to have a say in new Payments Regulatory Board

      In October 2018, RBI had released its ‘Dissent Note’ against having a regulator for payment systems outside the central bank New Delhi: The RBI Governor will head a six-member Payments Regulatory Board, including three central government nominees, will regulate and supervise payment systems in the country, according to a central bank notification. The Payments Regulatory Board (PRB) will replace the Board for Regulation and Supervision of Payment and Settlement System (BPSS). The five-member BPSS is also headed by the RBI Governor but does not include any government nominee. The other members are a deputy government concerned and three directors from the Central Board of the Reserve Bank of India. The Reserve Bank has now notified ‘Payments Regulatory Board Regulations, 2025’. According to the…

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    • 25 May
      245

      RBI to pay government record dividend of Rs 2.69 lakh crore for FY25

      The Reserve Bank of India had transferred Rs 2.1 lakh crore dividend to the government for the fiscal 2023-24. It was Rs 87,416 crore for 2022-23 Mumbai: The Reserve Bank of India on Friday announced a record Rs 2.69 lakh crore dividend to be paid to the government for the fiscal ended March this year, 27.4 per cent more than the payout in 2023-24. The Reserve Bank had transferred Rs 2.1 lakh crore dividend to the government for the fiscal 2023-24. The payout was Rs 87,416 crore for 2022-23. The decision on the dividend payout was taken at the 616th meeting of the Central Board of Directors of Reserve Bank of India under the Chairmanship of Governor Sanjay Malhotra. The board reviewed the global…

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    • 25 May
      218

      Make iPhones in US or pay 25% import tax, Trump threatens Apple

      Apple, led by CEO Tim Cook, in response to Trump’s tariffs on China is looking to shift iPhone manufacturing to India as it adjusts supply chains Washington: President Donald Trump on Friday threatened to put a 25% tariff on Apple products unless iPhones are manufactured in the United States. The threat delivered over social media could dramatically increase the price of iPhones, potentially hurting sales and the profits of one of America’s leading technology companies. The company now joins Amazon, Walmart and other major companies as being in the White House’s crosshairs as they try to respond to the uncertainty and inflationary pressures unleashed by the import taxes being imposed by Trump. “I have long ago informed Tim Cook of Apple…

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    • 25 May
      224

      Ambani, Adani compete for North-East; announce big investments

      RIL chairman and managing director said his group will invest in setting up a 150-bed cancer hospital in Manipur. Adani committed to investing an additional Rs 50,000 cr over next 10 years in green energy, road construction and creating digital infrastructure in North Eastern states New Delhi: Oil-to-telecom conglomerate Reliance Industries Ltd will invest Rs 75,000 crore in North Eastern states in setting up 350 biogas plants, expanding its telecom services, retail footprint, and clean energy projects, chairman Mukesh Ambani said on Friday. Speaking at the Rising NorthEast Investors Summit here, Reliance Industries Ltd chairman and managing director said his group will invest in factories for high-quality FMCG products in the region and setting up a 150-bed cancer hospital in Manipur. “Reliance…

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    • 25 May
      173

      Wipro Chairman Rishad Premji’s pay doubles in FY25 but is still less than CEO Srinivas Pallia

      Premji, in the fiscal year 2023-24, did not take any commission since the company’s incremental consolidated net profit for the year was negative, and took a pay cut of about 20 per cent New Delhi: Wipro Executive Chairman Rishad Premji’s remuneration more than doubled to USD 1.6 million (about Rs 13.7 crore) but was still less than company CEO Srinivas Pallia’s earnings of USD 6.2 million (about Rs 53.64 crore) in the fiscal year ended March 31, 2025, according to the company’s latest annual report. Premji, in the fiscal year 2023-24, did not take any commission since the company’s incremental consolidated net profit for the year was negative, and took a pay cut of about 20 per cent with a salary…

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    • 25 May
      198

      GMR Airports loss widens to Rs 253 crore in March quarter of FY25

      Delhi, Hyderabad and Mopa (Goa) airports are operated by entities that are part of GMR Airports Ltd. The company had a loss of Rs 168 crore in the year-ago period New Delhi: GMR Airports saw its consolidated loss widen to Rs 253 crore in the three months ended March 2025 even as total income rose during the same period. The company had a loss of Rs 168 crore in the year-ago period. The figures are after tax for continuing operations. According to a regulatory filing on Friday, GMR Airports’ total income climbed to Rs 2,977 crore in the fourth quarter of 2024-25 financial year from Rs 2,570 crore in the year-ago period. For the 2024-25 fiscal, the company’s loss narrowed to Rs…

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    • 20 May
      347

      6 companies, including The Leela hotel chain owner, to launch their IPOs in May

      Together, these six companies are expected to raise Rs 11,669 crore as IPO market starts buzzing again New Delhi: After a tepid start to 2025, the IPO market is getting back on track with six main-board companies, including Schloss Bangalore, owner of luxury hotel chain The Leela, are set to float their initial share-sales this month to collectively mobilise over Rs 11,000 crore, investment banking sources said on Monday. Of the six firms, Borana Weaves and Belrise Industries will launch their IPOs this week. Borana Weaves will float its Rs 144-crore IPO on May 20, while Pune-based Belrise Industries’ Rs 2,150-crore IPO will open on May 21. The remaining four companies — Schloss Bangalore Ltd, Aegis Vopak Terminals, Arisinfra Solutions Ltd…

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    • 20 May
      366

      Myntra extends its foray with Singapore, targets Indian diaspora

      Myntra announced its foray into Singapore as part of its growth strategy New Delhi: Fashion and lifestyle e-commerce platform Myntra on Monday announced its foray into Singapore as part of its growth strategy. The move, targeted at around 650,000 Indian diaspora in the Lion City, is part of Myntra’s broader growth strategy, aiming to tap into new customer segments and build stronger international brand affinity over the coming years, Myntra said in a statement. Myntra has already observed notable organic interest, with around 30,000 users from Singapore visiting its existing platform, Myntra CEO Nandita Sinha said. “We have launched Myntra Global in Singapore, focused on presenting Indian fashion to the world. Made in India brands, which cater to the Indian diaspora,…

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