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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 -
      21 April
      409

      BHEL jumps 19 per cent revenue growth at Rs 27,350 cr in 2024-25

      According to the statement, Bharat Heavy Electricals Ltd (BHEL) registered a revenue of Rs 27,350 crore (provisional and unaudited) for FY 2024–25, marking a robust growth of around 19 per cent over the previous year New Delhi: State-owned engineering firm BHEL on Sunday posted a 19 per cent on-year growth in revenue at Rs 27,350 crore for the fiscal year 2024-25. The company also secured its highest-ever order inflows during the year, amounting to Rs 92,534 crore, a company statement said. With this, BHEL’s total order book at the end of FY 2024–25 stood at Rs 1,95,922 crore, it stated. According to the statement, Bharat Heavy Electricals Ltd (BHEL) registered a revenue of Rs 27,350 crore (provisional and unaudited) for FY…

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    • 21 April
      358

      Bank Nifty in focus after robust Q4 results by leading private lenders

      According to market watchers, technically, Bank Nifty has formed a strong bullish candle on the daily chart, making a high of 54,407.20 — just 60 points away from its all-time high Mumbai: Robust results by leading private lenders like HDFC Bank and ICICI Bank reflect rising investor confidence in the sector’s fundamentals, and the stock market is likely to respond positively to their Q4 FY25 results when it opens on Monday, according to analysts. The Bank Nifty index surged by 2.2 per cent on April 17 to close at 54,290.20, just 177 points shy of its 52-week high of 54,467.35. The rally was driven by strong gains in heavyweight constituents like HDFC Bank and ICICI Bank. The overall banking space showed…

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    • 21 April
      342

      Hyundai Palisade SUV sales in United States exceed 500,000 units

      Hyundai Motor, South Korea’s top automaker, said, it has sold over 500,000 units of the Palisade sport utility vehicle (SUV) in the United States Seoul: Hyundai Motor, South Korea’s top automaker, said on Sunday it has sold over 500,000 units of the Palisade sport utility vehicle (SUV) in the United States, as automakers scramble to navigate the global trade turmoil. The cumulative sales of the Palisade in the United States reached 506,425 units as of the end of last month, according to Hyundai’s sales data. Hyundai Motor launched the first-generation Palisade SUV in the US market six years ago in 2019. The second-generation model is set to be released there later this year, reports Yonhap news agency. In 2024, about two-thirds…

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    • 21 April
      380

      Coal Trade Exchange: Ministry of Coal to extend deadline until May 7 for comments on draft rules

      “The Ministry of Coal had published the proposed draft legislation on Coal Trade Exchange for public consultation… Ministry of Coal has decided to extend the last date for submission of comments/suggestions from April 6, 2025, till May 7, 2025,” the coal ministry said New Delhi: The government has extended the deadline to early next month for public comments on the proposed rules on Coal Trade Exchange that will facilitate the dry-fuel’s trading as a commodity. “The Ministry of Coal had published the proposed draft legislation on Coal Trade Exchange for public consultation… Ministry of Coal has decided to extend the last date for submission of comments/suggestions from April 6, 2025, till May 7, 2025,” the coal ministry said on its website.…

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    • 20 April
      278

      Gold prices may hit Rs 1 lakh soon

      The yellow metal will remain attractive as long as global policy uncertainty and trade issues persist, say experts New Delhi: Gold prices in India could soon touch Rs 1 lakh per 10 grams, as global uncertainties continue to push investors towards safe-haven assets, experts said on Saturday. The sharp rise in gold prices is being driven by fears of a slowdown in the US economy, fuelled by President Donald Trump’s renewed tariff policies. According to estimates by global brokerage Goldman Sachs, gold prices could reach $3,700 per ounce in the near term, and possibly touch $4,500 per ounce if trade tensions escalate further. If this happens, domestic gold prices on the Multi Commodity Exchange (MCX) could climb to Rs 1 lakh or even Rs 1.25…

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    • 20 April
      194

      Mody Volkswagen Deccan launches the new Volkswagen Tiguan R-Line

      The new Volkswagen Tiguan R-Line brings together premium styling, superior performance, and advanced technology, setting new standards in the SUV segment Hyderabad: Mody Volkswagen Deccan announced the launch of the highly anticipated Volkswagen Tiguan R-Line at its showrooms located in LB Nagar and Mehdipatnam. The launch event had the presence of Umesh Sharma, Regional Manager – Volkswagen, Parth Modi, Executive Director – Mody Group, and Krishna Prasad, Vice President – Volkswagen Deccan, apart from customers, automotive enthusiasts, and dedicated dealership staff. The new Volkswagen Tiguan R-Line brings together premium styling, superior performance, and advanced technology, setting new standards in the SUV segment. With its bold design elements and R-Line exclusive features, the Tiguan R-Line is designed to deliver a dynamic driving…

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    • 20 April
      172

      MTNL defaults on over Rs 8,300 crore loan repayments

      Union Bank of India is the largest creditor, with MTNL owing it over Rs 3,633 crore, followed by Indian Overseas Bank (Rs 2,374 crore) and Bank of India (Rs 1,077 crore) Mumbai: Mahanagar Telephone Nigam Limited (MTNL) on Saturday said it has defaulted on loan repayments of over Rs 8,300 crore to multiple banks. According to its stock exchange filing, the telecom firm failed to repay dues to several public sector banks, including Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank. As per the filing, MTNL defaulted on both principal and interest payments in March 2025. The total outstanding principal amount is Rs 7,794.34 crore,…

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    • 19 April
      291

      ITC to acquire Hyderabad-based 24 Mantra Organic for Rs 472.50 crore

      Sresta Natural Bioproducts, which owns the ‘24 Mantra Organic’ brand, was incorporated in March 2004 and has a network of approximately 27,500 farmers and 1.4 lakh acres of certified organic land in 10 States New Delhi: Multi-conglomerate ITC will acquire Sresta Natural Bioproducts, which owns the ‘24 Mantra Organic’ brand, in an all-cash deal valued at Rs 472.50 crore, to expand its play in the fast-growing organic food products. ITC has signed a share purchase agreement with Sresta Natural Bioproducts Private Limited (SNBPL) to acquire a 100 per cent stake in the company, ITC informed in a regulatory filing. Besides, ITC also announced the acquisition of the remaining 73.5 per cent stake of Mother Sparsh Baby Care, an associate company. ITC…

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    • 19 April
      260

      Satellite-based tolling to replace FASTag from May 1?

      There were reports that a satellite-based tolling system would be launched from May 1, 2025, and will replace the existing FASTag-based toll collection system. The Ministry of Road Transport and Highways has issued clarification New Delhi: The Ministry of Road Transport and Highways (MoRTH) on Friday clarified that no decision has been taken on the nationwide implementation of satellite-based tolling from May 1. The Ministry’s response came after some sections of the media reported that a satellite-based tolling system would be launched from May 1, 2025, and will replace the existing FASTag-based toll collection system. In a statement, the Ministry said that to enable seamless, barrier-free movement of vehicles through toll plazas and reduce travel time, an ‘Automatic Number Plate Recognition (ANPR)-FASTag-based…

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    • 19 April
      197

      India is a key resource talent hub for AI professionals: Jayant Chaudhary

      Speaking at Africa’s largest tech and startup show, ‘GITEX Africa 2025’, the minister said that India’s Digital Public Infrastructure (DPI) has driven transformative changes across areas, especially through developments of digital identity (Aadhaar), digital payments (UPI), e-commerce (ONDC), and healthcare New Delhi: India is a key resource talent hub for AI professionals, which is a clear indicator of the efforts of the government and the industry to nurture an environment for adoption of AI, Minister of State for Skill Development and Entrepreneurship (Independent Charge), Jayant Chaudhary, has said. Speaking at Africa’s largest tech and startup show, ‘GITEX Africa 2025’, the minister said that India’s Digital Public Infrastructure (DPI) has driven transformative changes across areas, especially through developments of digital identity (Aadhaar),…

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