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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 -
      3 May
      285

      Sensex surges over 800 points, Nifty hits record high on India-US trade deal hopes

      A strong global market trend further bolstered investor sentiment, lifting equities. The 30-share BSE Sensex rallied 500.81 points to 80,743.05 in early trade, while the NSE Nifty advanced 110.65 points to 24,444.85. Mumbai: Equity benchmark indices Sensex and Nifty surged in early trade on Friday amid optimism surrounding a potential India-US trade deal, record high GST collection in April, and continuous foreign fund inflows. Moreover, a firm trend in global markets also added to the optimism in equities. The 30-share BSE benchmark gauge jumped 500.81 points to 80,743.05 in early trade. The NSE Nifty surged 110.65 points to 24,444.85. Later, the Sensex quoted 816.41 points up at 81,064.47, and the Nifty climbed 222.30 points to 24,556.50. From the Sensex firms, Adani…

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    • 3 May
      245

      Rupee rallies 77 paise to 83.77 against dollar amid robust GST data and foreign inflows

      Forex traders noted that GST collections surged to a record ₹2.37 lakh crore in April, indicating strong domestic demand. Additionally, upbeat sentiment was supported by a rally in domestic equities, fueled by consistent foreign fund inflows. Mumbai: The rupee appreciated 77 paise to 83.77 against the US dollar in early trade on Friday, supported by sustained foreign fund inflows and stronger domestic data. Forex traders said GST collections for April were robust at Rs 2.37 lakh crore, an all-time high, reflecting the health of domestic demand. Moreover, a positive trend in domestic equities driven by foreign fund inflows further boosted sentiments. However, caution lingers, as they noted any escalation in tensions between India and Pakistan could swiftly reverse gains and pressurise…

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    • 3 May
      228

      Eternal to shut Zomato Quick, Everyday businesses

      Zomato, which re-branded itself to Eternal in March, reported a net profit of Rs 39 crore for the fourth quarter ended March New Delhi: Food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit brands, on Thursday reported a consolidated net profit of Rs 39 crore for the fourth quarter ended March. The online platform also announced that it is shutting its Zomato Quick and Everyday businesses. The company, which re-branded itself from Zomato to Eternal in March, had reported a net profit of Rs 175 crore in the year-ago period. In a regulatory filing, it said the results for the quarter and year ended March 31, 2025, along with the December-end quarter, are not comparable with other periods. Eternal’s…

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    • 2 May
      250

      Prime Minister Modi to commission Vizhinjam seaport on May 2

      Vizhinjam is India’s first dedicated transshipment port and also the country’s first semi-automated port. The deep-water port has been developed by Adani Ports and Special Economic Zone Ltd Thiruvananthapuram: Prime Minister Narendra Modi will officially commission the Vizhinjam International Seaport on Friday (May 2), placing Kerala firmly on the global maritime map. The port is expected to transform India’s role in international trade and shipping. The deep-water port has been developed by Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of the Adani Group, under a public-private partnership. The project was completed at an estimated cost of Rs 8,867 crore. Following a successful trial run, the port received its commercial commissioning certificate on December 4 last year.…

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    • 2 May
      217

      alt.f coworking opens facility in Hyderabad with over 1,200 seats

      The company has opened its first centre in Hyderabad at Nanakramguda Financial District New Delhi: Co-working operator alt.f coworking has opened a new facility in Hyderabad covering 56,000 square feet with more than 1,200 seating capacity. In a statement on Thursday, the company said it has opened its first centre in Hyderabad at Nanakramguda Financial District. “Hyderabad is a growing market for flexible workspaces. Our launch here brings us one step closer to our vision of building a powerful national footprint,” Yogesh Arora, co-founder of alt.f coworking, said. The price per desk starts at Rs 8,000 per month. At present, alt.f coworking operates over 11,000 seats and manages more than 5,00,000 sq ft space across Delhi, Noida and Gurugram. It mainly focuses…

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    • 2 May
      211

      Tesla chair denies report about replacing Musk as CEO

      The Wall Street Journal (WSJ) reported that as sales and profits tanked with Musk focusing on his work with the Donald Trump administration, “Tesla’s board began mulling a replacement, it also met with Musk, telling him he had to spend more time with Tesla” New Delhi: After a report claimed that electric car maker Tesla’s board is planning to replace Elon Musk as CEO, Robyn Denholm, Chairman of the board of directors at Tesla Motors, on Thursday denied the report, saying “this is absolutely false”. The Wall Street Journal (WSJ) reported that as sales and profits tanked with Musk focusing on his work with the Donald Trump administration, “Tesla’s board began mulling a replacement, it also met with Musk, telling him…

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    • 2 May
      257

      ATM transaction revised rules come into effect from May 1; Check here for new charges

      As per the new guidelines, customers are now eligible for five free transactions every month from their respective banks. They will be charged if the limit exceeds Hyderabad: As directed by the Reserve Bank of India (RBI), banks from today ie, May 1, will apply a revised fee structure for ATM transactions. The new guidelines imposed by the apex bank emphasise free ATM transaction limits, revising charges for exceeding limits, and modifying the structure of interchange fees. As per the new guidelines, customers are now eligible for five free transactions every month from their respective banks. They can also avail of three free ATM transactions in metro cities and five transactions in non-metro cities from other banks. Customers will be charged…

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    • 2 May
      206

      IndusInd Bank appoints ‘committee of executives’ to run bank following CEO’s resignation

      “The Board has constituted such “Committee of Executives” to oversee the operations of the bank, under the oversight and guidance of the Oversight Committee of the Board till a new MD&CEO…assumes charge or a period of 3 months,” IndusInd Bank said New Delhi: IndusInd Bank on Wednesday said its board has appointed a ‘committee of executives’ to oversee the operations of the bank following resignation of CEO Sumant Kathpalia.Kathpalia resigned from services of the bank with effect from April 29, 2025, taking moral responsibility of accounting lapses in the derivatives portfolio having financial implication of Rs 1,960 crore. “The Board has constituted such “Committee of Executives” to oversee the operations of the bank, under the oversight and guidance of the Oversight…

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    • 1 May
      210

      Blinkit-Airtel SIM home delivery on hold; DoT asks telecom service to abide by stipulated KYC norms

      New Delhi: Just days after Blinkit-Airtel SIM home delivery was announced with much fanfare, the service has been put on hold, sources said. The move came after DoT queried Airtel on the process being followed and made it clear that stipulated norms have to be complied with, the sources said. The Telecom Department recently circulated […] New Delhi: Just days after Blinkit-Airtel SIM home delivery was announced with much fanfare, the service has been put on hold, sources said. The move came after DoT queried Airtel on the process being followed and made it clear that stipulated norms have to be complied with, the sources said. The Telecom Department recently circulated a mail to various telecom service providers, saying “the existing…

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    • 1 May
      227

      NSE IPO: Sebi chief Pandey says discussions ongoing with bourse to resolve key issues

      Sebi’s concerns include the compensation given to key management personnel, technology and the majority ownership in Clearing Corporation, among others Mumbai: The long-awaited initial public offering (IPO) of the National Stock Exchange (NSE) is under regulatory review, with discussions ongoing between the bourse and Sebi to resolve certain issues, markets regulator chief Tuhin Kanta Pandey said. Sebi’s concerns include the compensation given to key management personnel, technology and the majority ownership in Clearing Corporation, among others. The bourse has restarted its listing process by applying for an NOC at the Securities and Exchange Board of India (Sebi). While a No Objection Certificate (NOC) has been filed, the timeline for the IPO remains uncertain as both parties work to resolve key issues…

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