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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

    • Apr- 2025 -
      23 April
      227

      FM Nirmala Sitharaman invites global IT CEOs to explore opportunities in India

      During a bilateral meeting with Google Cloud CEO Thomas Kurian and his team here, Sitharaman encouraged them to explore local linkages in India for territorial collaboration and to develop tech for India and the world market under the ‘Make In India’ initiative San Francisco: Finance Minister Nirmala Sitharaman on Monday met several IT industry leaders and invited them to explore opportunities for technical collaboration and investment. During a bilateral meeting with Google Cloud CEO Thomas Kurian and his team here, Sitharaman encouraged them to explore local linkages in India for territorial collaboration and to develop tech for India and the world market under the ‘Make In India’ initiative. They discussed the transformative evolution of India’s digital infrastructure under the Digital India…

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    • 23 April
      204

      India, US finalise ToR for proposed bilateral trade agreement: USTR

      India and the US have finalised the terms of reference outlining the roadmap for negotiations of the proposed Bilateral Trade Agreement (BTA) New Delhi: India and the US have finalised the terms of reference outlining the roadmap for negotiations of the proposed Bilateral Trade Agreement (BTA), according to a statement issued by the US. US Trade Representative (USTR) Jamieson Greer said that these ongoing talks will help achieve balance and reciprocity by opening new markets for American goods and addressing unfair practices that harm US workers. “India’s constructive engagement so far has been welcomed, and I look forward to creating new opportunities for workers, farmers, and entrepreneurs in both countries,” he said in a statement. “I am pleased to confirm that…

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    • 22 April
      339

      Gold prices hit record high of Rs 96,805, may touch Rs 1 lakh mark soon

      Spot gold prices in India also surged. According to the India Bullion and Jewellers Association (IBJA), the fine gold (999 purity) was priced at Rs 9,659 per gram, while 22-carat gold stood at Rs 9,427 New Delhi: Gold prices in India touched a new record high of Rs 96,805 per 10 grams on Monday on the Multi Commodity Exchange (MCX) as rising fears over a global trade war and weakness in the US dollar pushed investors towards the yellow metal. Around 1:30 pm, the ‘MCX Gold June 5’ contract was trading 1.65 per cent higher at Rs 96,830 per 10 grams. Spot gold prices in India also surged. According to the India Bullion and Jewellers Association (IBJA), the fine gold (999…

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    • 22 April
      354

      Govt orders Google to remove Chinese app ‘Ablo’ for showing wrong map of India

      The government’s notice states that the China-based video chat platform, which has over 10,000 downloads on Google Play, misrepresented the Union Territories of Jammu & Kashmir and Ladakh, and entirely omitted Lakshadweep Island from its map New Delhi: The Ministry of Electronics and Information Technology (MeitY), along with the Survey of India (SoI), has directed US tech giant Google to remove the Chinese chat app ‘Ablo’ from its Play Store, as the app is not correct in its depiction of India’s territorial borders. The government’s notice states that the China-based video chat platform, which has over 10,000 downloads on Google Play, misrepresented the Union Territories of Jammu & Kashmir and Ladakh, and entirely omitted Lakshadweep Island from its map. The directive…

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    • 22 April
      406

      Samsung to introduce AI-based commands for vernacular languages, India-specific features to drive AI appliances sale

      The Appliances & Consumer Electronics major Samsung is quite encouraged by the growth of the registered user base of the SmartThings app in India, currently ranked third globally New Delhi: Appliances & Consumer Electronics major Samsung is introducing artificial intelligence-based commands for vernacular languages and India-specific features to drive growth in the highly competitive domestic appliances market here, said executives of the South Korean company. The Chaebol is quite encouraged by the growth of the registered user base of the SmartThings app in India, currently ranked third globally. “We have approximately 23 million registered users of SmartThings in India, and India ranks third globally. The top two countries are the US and Brazil. The number of registered devices is also growing…

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    • 22 April
      366

      India’s jewellery industry expected to reach $128 billion by 2029

      Gold continues to dominate the market with an 86 per cent share, but lab-grown diamonds (LGDs) are emerging as a powerful growth catalyst, said the report by 1Lattice New Delhi: India’s gems and jewellery industry is expected to surge from $83 billion in 2024 to $128 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.5 per cent, a report showed on Monday. Gold continues to dominate the market with an 86 per cent share, but lab-grown diamonds (LGDs) are emerging as a powerful growth catalyst, said the report by 1Lattice. The LGD segment, currently valued at $345 million (2024), is projected to grow at a CAGR of 15 per cent to reach $1.2 billion by 2033. India…

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    • 22 April
      425

      Infosys shares climb over 3 per cent after March quarter earnings

      The stock bounced back after a muted beginning and rallied 2.95 per cent to Rs 1,462.20 on the BSE. Shares of the firm climbed 3 per cent to Rs 1,462.70 at the NSE New Delhi: Shares of Infosys climbed 3 per cent on Monday morning trade after the company’s March quarter net profit rose 3.3 per cent sequentially. The stock bounced back after a muted beginning and rallied 2.95 per cent to Rs 1,462.20 on the BSE. Shares of the firm climbed 3 per cent to Rs 1,462.70 at the NSE. In the equity market, the BSE benchmark Sensex jumped 794.10 points to 79,347.30 during morning trade. The NSE Nifty surged 242.95 points to 24,094.60. India’s second-largest IT company, Infosys, on Thursday reported…

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    • 22 April
      362

      HDFC Bank shares up over 2 per cent post March quarter earnings

      The stock rallied 2.27 per cent to Rs 1,950 — its 52-week high level — on the BSE. At the NSE, it climbed 2.30 per cent to hit the one-year peak of Rs 1,950.70 New Delhi: Shares of HDFC Bank on Monday climbed over 2 per cent to hit its one-year peak after the firm reported a 7 per cent growth in consolidated net profit for the March quarter. The stock rallied 2.27 per cent to Rs 1,950 — its 52-week high level — on the BSE. At the NSE, it climbed 2.30 per cent to hit the one-year peak of Rs 1,950.70. The 30-share BSE benchmark Sensex jumped 625.63 points to trade at 79,178.83 in morning trade. The NSE Nifty climbed 191.35 points…

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    • 21 April
      380

      Indian toy makers aim to leverage ‘golden opportunity’ amid US tariffs on Chinese imports

      Toy Association of India has identified about 40 firms with potential to export to US market while meeting the compliance requirements New Delhi: India’s toy exporters are aiming to utilise a “golden opportunity” emerging out of the steep tariffs imposed by the US on Chinese imports, and growing enquiries from American buyers eyeing alternative markets to reduce their reliance on Chinese goods. Toy Association of India has identified about 40 firms with the potential to export to the US market while meeting the compliance requirements. Currently, about 20 companies export toys in bulk to the American market, President Ajay Aggarwal said. “We are getting more enquiries from US-based toy buyers in the last month. Some Indian export houses have also got…

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    • 21 April
      382

      India is on a trajectory to achieve steel production capacity of 300 million tonnes by 2030

      In FY25 (April to December period), the production of crude steel stood at 110.99 MT and finished steel stood at 106.86 MT New Delhi: India is on a trajectory to achieve a steel production capacity of 300 million tonnes (MT) and a per capita consumption of 160 kg by 2030, according to the government. In FY25 (April to December period), the production of crude steel stood at 110.99 MT and finished steel stood at 106.86 MT. Also, the production-linked incentive (PLI) scheme 1.1 for specialty steel has witnessed investment commitments worth Rs 17,000 crore in the second round, according to the government. The expansion of the scheme is expected to further enhance India’s global competitiveness in specialty steel production. Keeping this…

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