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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 -
      8 May
      251

      If implemented, Trump’s 100 per cent tariff threat will impact business of Indian films in US: producers

      Though there is little clarity just yet, the fear is that it will impact the footfall for Indian movies screened in the US, according to a section of industry insiders, including Shibasish Sarkar, president of the Producers Guild of India, filmmaker Vivek Agnihotri and exhibitor-distributor Akshay Rathi Mumbai: US President Donald Trump‘s announcement threatening 100 per cent tariff on movies produced outside and coming to the US will impact the box office business of Indian films and may lead to an increase in ticket prices for Indian films, say producers in India. Though there is little clarity just yet, the fear is that it will impact the footfall for Indian movies screened in the US, according to a section of industry insiders,…

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    • 8 May
      233

      British whisky, cars to get cheaper as India-UK clinches trade deal

      The pact lowers tariffs on 99 per cent of Indian goods to zero in the UK market while allowing Indian workers to travel to the UK for work without changing Britain’s point-based immigration system New Delhi/London: India and the UK clinched a ‘landmark’ trade deal that will remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to USD 120 billion by 2030. The world’s fifth and sixth-largest economies concluded the deal after three years of on-off negotiations. The pact lowers tariffs on 99 per cent of Indian goods to zero in the UK market while allowing…

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    • 8 May
      195

      Rupee falls 31 paise to 84.66 against dollar after India’s cross-border strikes under Operation Sindoor

      Early Wednesday, the Indian armed forces launched missile strikes on nine terrorist targets in Pakistan and Pakistan-Occupied Kashmir, targeting key locations such as the Jaish-e-Mohammad stronghold in Bahawalpur and the Lashkar-e-Taiba base in Muridke. Mumbai: The rupee depreciated 31 paise to 84.66 against the US dollar in early trade on Wednesday, after India’s military strikes against terrorist camps in Pakistan and Pakistan-Occupied Kashmir increased cross-border tensions. Indian armed forces on early Wednesday carried out missile strikes on nine terror targets in Pakistan and Pakistan-Occupied Kashmir including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba’s base in Muridke. The military strikes were conducted under Operation Sindoor two weeks after the Pahalgam attack that killed 26 civilians. Forex traders said the military strikes against…

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    • 8 May
      278

      Sensex, Nifty volatile after India’s recision strikes under Operation Sindoor; Markets await further cues

      The benchmark indices showed range-bound movement during morning trade, with the BSE Sensex down by 87.81 points at 80,553.26 and the Nifty slipping 16.55 points to 24,365.05. Mumbai: Equity benchmark indices Sensex and Nifty faced heavy volatility on Wednesday morning trade after India launched missile strikes on terrorist hideouts in Pakistan and Pakistan-Occupied Kashmir. The Sensex hit the day’s high of 80,844.63 and an intra-day low of 79,937.48. The NSE Nifty hit a high of 24,449.60 and a low of 24,220. Both the benchmark indices depicted range-bound trading during the morning trade. The BSE benchmark gauge traded 87.81 points lower at 80,553.26, and the Nifty quoted 16.55 points down at 24,365.05. Retaliating for the Pahalgam terror attack, Indian armed forces on…

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    • 6 May
      370

      India’s mineral production rises to all-time high in 2024-25

      The output of iron ore, which accounts for 70 per cent of the total mineral production by value, increased to 289 million metric tonnes (MMT) in FY 2024-25, breaking the earlier production record of 277 MMT achieved in FY 2023-24, registering a 4.3 per cent growth New Delhi: The production of key minerals such as iron ore, manganese ore, bauxite and lead in the country has recorded a robust growth in financial year 2024-25 after reaching record production levels in FY 2023-24, according to a statement issued by the Ministry of Mines on Monday. The output of iron ore, which accounts for 70 per cent of the total mineral production by value, increased to 289 million metric tonnes (MMT) in FY…

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    • 6 May
      423

      Apple to scale iPhone production in India to $40 billion by FY26 amid shift from China

      The development follows Apple CEO Tim Cook’s recent statement during the company’s Q2 2025 earnings call, where he disclosed that most iPhones sold in the US during the ongoing April–June quarter would be manufactured in India. New Delhi: Apple is expected to ramp up its iPhone production in India to nearly $40 billion (about Rs 3,36,000 crore) by the end of FY26, as the tech giant continues to shift its global supply chain away from China amid growing geopolitical tensions and trade tariffs. According to industry estimates, this move will enable Apple to meet 80 per cent of its iPhone demand in the US and cater fully to India’s growing domestic market. The development comes close on the heels of Apple…

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    • 6 May
      294

      Sensex, Nifty rally in early trade on FII Inflows, Crude oil slump

      The 30-share BSE Sensex jumped 386.95 points to reach 80,888.94 in early trading, while the NSE Nifty advanced 114.05 points to 24,460.75. Among the top performers on the Sensex were Adani Ports, Asian Paints, Bajaj Finserv, Tata Consultancy Services, Infosys, HDFC Bank, Power Grid, HCL Tech, Titan, and Tata Motors. Mumbai: Equity benchmark indices Sensex and Nifty surged in early trade on Monday amid sustained foreign fund inflows, a sharp drop in crude oil prices and firm trends in the US markets. The 30-share BSE benchmark gauge climbed 386.95 points to 80,888.94 in early trade. The NSE Nifty surged 114.05 points to 24,460.75. From the Sensex firms, Adani Ports, Asian Paints, Bajaj Finserv, Tata Consultancy Services, Infosys, HDFC Bank, Power Grid,…

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    • 6 May
      350

      Rupee rises 39 paise to 84.18 against dollar amid FII inflows, crude oil slump

      Forex traders noted that a steep drop in crude oil prices, along with a strong performance in domestic equities, boosted investor sentiment. Brent crude prices fell by nearly 4 percent in early Asian trading after OPEC+ indicated plans over the weekend to ramp up production in the coming months. Mumbai: The rupee gained 39 paise to 84.18 against the US dollar in early trade on Monday, as continued foreign investor interest in Indian assets lent fundamental support to the local unit. Forex traders said a sharp decline in crude oil prices and a positive trend in domestic equities enthused investors further. Brent crude oil prices slumped nearly 4 per cent in the morning Asian trade after OPEC+ signalled over the weekend…

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    • 6 May
      335

      Airtel’s B2B arm launches ‘Business Name Display’ solution for enterprises

      The solution was piloted with over 250 businesses across sectors, including banking, retail, food delivery, mobility, Quick commerce, courier and logistics New Delhi: Bharti Airtel’s B2B arm on Monday announced the launch of ‘Business Name Display’ (BND), a solution that would enable enterprises to display their brand name on the recipient’s mobile screen during outgoing calls. The solution was piloted with over 250 businesses across sectors, including banking, retail, food delivery, mobility, Quick commerce, courier and logistics. These businesses used 1.5 million-plus phone numbers to make 12.8 million calls in the last 30 days, leading to a marked increase in customer engagement, Airtel said in a release. “Airtel Business today announced the launch of ‘Business Name Display’ (BND), an industry-first solution…

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    • 6 May
      302

      CBI arrests Oil India’s deputy general manager, private company executive for bribery

      Prayas Chakravorty, a deputy general manager (DGM) of Oil India Limited (OIL), had allegedly demanded a bribe from Jyoti Kumar Singh, the DGM of Noida-based United Drilling Tools Limited, for the award of a certain contract in favour of the private company, they said New Delhi: The CBI has arrested a deputy general manager of Oil India Limited posted in Assam’s Duliajan and a private company executive for alleged bribery of Rs 7 lakh, officials said on Monday. Prayas Chakravorty, a deputy general manager (DGM) of Oil India Limited (OIL), had allegedly demanded a bribe from Jyoti Kumar Singh, the DGM of Noida-based United Drilling Tools Limited, for the award of a certain contract in favour of the private company, they…

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