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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 -
      12 April
      218

      Rupee surges 51 paise to 86.17 against US dollar amid strong equities, weaker greenback

      In early trade at the interbank foreign exchange, the rupee opened at 86.22 against the US dollar, marking a gain of 46 paise from its previous close. It later strengthened further to 86.17. On Wednesday, the local currency had settled at 86.68 against the greenback. Mumbai: The rupee rose sharply by 51 paise against the US dollar to 86.17 in early trade on Friday amid a strong opening in the domestic equity markets, a weakening greenback, and decline in oil prices. The rise in the local unit comes a day after US President Donald Trump suspended the additional 26 per cent tariffs on India till July 9. At the interbank foreign exchange, the domestic unit opened at 86.22 against the US…

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    • 12 April
      261

      Sensex soars over 1,200 points, Nifty nears 22,800 after US suspends tariffs on India

      The 30-share BSE Sensex rallied 1,210.68 points to reach 75,057.83 in early trade, while the NSE Nifty climbed 388.35 points to 22,787.50. The gains came after the US announced a 90-day suspension of additional tariffs on India, effective until July 9, as per executive orders from the White House. Mumbai: Benchmark equity indices surged in early trade on Friday after the US announced suspension of additional tariffs on India for 90 days until July 9 this year. The 30-share BSE benchmark Sensex jumped 1,210.68 points to 75,057.83 in early trade. The NSE Nifty surged 388.35 points to 22,787.50. The US has announced suspension of additional tariffs on India for 90 days until July 9 this year, according to the White House…

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    • 12 April
      276

      Google lays off hundreds of employees from platforms and devices division

      The development comes at a time when several global companies, including Amazon, Intel and Goldman Sachs, are also cutting jobs amid the growing influence of AI and global economic uncertainty New Delhi: Tech giant Google has reportedly sacked hundreds of employees from its platforms and devices division — the team responsible for Android software, Pixel phones, and the Chrome browser. These layoffs came just months after Google had offered voluntary buyouts to employees in the same unit in January this year. According to a report in The Information, a Google spokesperson confirmed that following the merger of its platforms and devices teams last year, the company has been working to operate more efficiently and with greater agility. “As part of this effort, it has…

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    • 12 April
      257

      Ola’s Roadster X+ to hit road this month, check out details

      Company rolls out the first Roadster X+ e-bike from its Futurefactory in Krishnagiri, Tamil Nadu New Delhi: Ola Electric Mobility on Friday said it has rolled out the first Roadster X+ motorcycle from its Futurefactory in Krishnagiri, Tamil Nadu. The electric bike is set to hit the road this month. “The Roadster X+ series represents our commitment to taking the EV revolution to the next level. Today’s rollout celebrates not just a new product, but a new era for us and the industry, as it represents the next phase of revolution in electric mobility,” Ola Electric Chairman and MD Bhavish Aggarwal said in a statement. The Roadster X+ Series comes with a mid-drive motor that boosts performance and safety. Its also features a chain drive…

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    • 12 April
      224

      Gold prices hit record high, breach Rs 96,000 level

      Silver also registered a steep rise of Rs 2,300 to Rs 95,500 per kg, largely in tandem with global trends New Delhi: Gold prices surged by Rs 6,250 to hit a record high of Rs 96,450 per 10 grams in the national capital on Friday due to heavy demand from local jewellers and retailers, according to the All India Sarafa Association. Analysts said the precious metal hitting lifetime high levels in the international markets on strong safe-haven demand amid escalating US-China trade tensions boosted the domestic prices. On Wednesday, the yellow metal of 99.9 per cent purity had closed at Rs 90,200 per 10 grams. Rebounding after four days of sharp fall, gold of 99.5 per cent purity surged by Rs 6,250 to…

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    • 11 April
      210

      TCS net profit dips 2 per cent to Rs 12,224 crore in Q4 FY25

      Tata Consultancy Services (TCS) — whose earnings marked the official start of IT results season — reported a total revenue of Rs 64,479 crore in Q4 FY25, up 5.3 per cent over the year-ago period Mumbai: India’s largest IT services firm Tata Consultancy Services on Thursday reported a 1.68 per cent dip in its consolidated net profit to Rs 12,224 crore for the March 2025 quarter. Tata Consultancy Services (TCS) — whose earnings marked the official start of IT results season — reported a total revenue of Rs 64,479 crore in Q4 FY25, up 5.3 per cent over the year-ago period. For the full year FY25, TCS’ net profit rose 5.76 per cent year-on-year to Rs 48,553 crore. The IT heavyweight wrapped up…

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    • 11 April
      160

      TajGVK Hotels gets Rs 42 lakh tax demand order  

      The order relates to “mismatch” in service tax abatement availed by the company; hospitality firm to file an appeal New Delhi: TajGVK Hotels on Thursday said it has received an assessment order amounting to Rs 42.13 lakh in tax demand, interest and penalty related to “mismatch” in service tax abatement availed by the company. The hospitality firm said it is in the process of filing an appeal against the said order for the period between April 1, 2015 and June 30, 2017. The order was passed by the Office of Commissioner of Customs & Central Tax, Appeals-I, Commissionerate, Hyderabad, in relation to the Assessment of Service Tax for the hotels of Taj Krishna, Taj Deccan and Taj Banjara. In a regulatory filing,…

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    • 11 April
      207

      US-based BlackRock emerges as largest investor in Adani’s $750 million bond issue

      The investment comes at a time when Adani Group officials are under scrutiny following a US Department of Justice indictment in a bribery case in November last year New Delhi: Funds managed by BlackRock, the global investment behemoth, emerged as the largest subscribers of the USD 750-million private bond issuance by the Adani Group. The US-based asset manager, overseeing USD 12 trillion in assets, has taken on one-third of the USD 750 million issuance, which carries a tenure of 3-5 years, sources with direct knowledge of the matter said. This investment comes at a time when Adani Group officials are under scrutiny following a US Department of Justice (DOJ) indictment in a bribery case in November last year. BlackRock’s move marks its first…

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    • 11 April
      281

      China reaches out to others as Trump layers on tariffs

      Facing the cratering of global markets, Trump on Wednesday backed off his tariffs on most nations for 90 days, saying countries were lining up to negotiate more favorable conditions Beijing: China is reaching out to other nations as the US layers on more tariffs, in what appears to be an attempt by Beijing to form a united front to compel Washington to retreat. Days into the effort, it’s meeting only partial success from countries unwilling to ally with the main target of President Donald Trump’s trade war. Facing the cratering of global markets, Trump on Wednesday backed off his tariffs on most nations for 90 days, saying countries were lining up to negotiate more favorable conditions. China has refused to seek…

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    • 11 April
      228

      People were getting yippy: Trump on tariff pause

      Trump announced the revised levies in a post on Truth Social on Wednesday midday as the markets were in tumult for another day over the tariffs, this time with the sell-off treasury bonds Washington: US President Donald Trump announced that he has paused the implementation of most of his “reciprocal” tariffs because some people were getting “yippy” and “a little bit afraid.” Trump announced a pause in the tariffs to a low of 10 per cent for imports from all trading partner countries that had not hit back with retaliatory levies on American goods, which would upwards of 75 countries that have chosen to reach out to the administration to negotiate some kind of a deal, which included India, which is…

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