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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 -
      5 April
      221

      China hits back at US with 34 per cent tariffs

      The tariffs will be imposed on American goods starting April 10; Beijing also announced it filed a lawsuit with World Trade Organization Beijing: China on Friday hit back at the US by imposing additional 34 per cent tariffs on all imported American products in retaliation to US President Donald Trump’s decision to impose 34 per cent tariffs against Chinese exports, in the latest escalation of trade war between the top two economies of the world. The tariffs will be imposed on American goods starting April 10, state-run Xinhua news agency reported. The Commerce Ministry in Beijing also said in a notice that it will impose more export controls on rare earths, which are materials used in high-tech products such as…

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    • 5 April
      240

      Taj Mahal top earning ASI monument in last five years

      The Mughal-era mausoleum generated revenue of Rs 297 crore through ticket sales in the last five years. Qutub Minar and Red Fort of Delhi were in second and third positions in FY23-24 New Delhi: Mughal-era mausoleum Taj Mahal was the top earning ASI-protected monument through ticket sales, generating a revenue of Rs 297 crore in the last five years, according to data shared by the government. Union Culture Minister Gajendra Singh Shekhawat shared the data in a written response to a query in the Rajya Sabha on Thursday. In FY23-24, Qutub Minar and Red Fort of Delhi were in the second and third positions generating a revenue of Rs 23,80,16,983 and Rs 18,08,90,825 respectively. He was asked the amount that…

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    • 5 April
      285

      Sensex, Nifty plunge amid tariff fears and foreign fund outflows; Metal, oil and gas stocks lead decline

      Additionally, foreign fund outflows have dampened investor sentiment. In morning trade, the 30-share BSE Sensex dropped by 591.05 points, or 0.77%, to 75,704.31, while the broader NSE Nifty slipped 202.55 points, or 0.87%, to 23,047.55. Mumbai: Benchmark equity indices Sensex and Nifty slumped in initial trade on Friday due to heavy selling in metal, oil & gas shares as President Donald Trump’s sweeping tariff salvo reignited the fears of global trade war. Besides, foreign fund outflows have also dented the investor sentiment. The 30-share BSE Sensex slumped 591.05 points or 0.77 per cent to 75,704.31 in the morning trade. The broader NSE Nifty declined 202.55 points or 0.87 per cent to 23,047.55. From the Sensex pack, Tata Motors, Tata Steel,…

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    • 5 April
      199

      Rupee rises 34 paise to 84.96 against dollar amid crude price drop, US tariff impact

      The rupee’s rebound has been driven primarily by a decline in crude oil prices and the weakening of the US dollar in global markets. According to forex traders, the greenback lost ground due to growing concerns over inflationary pressures, triggered by tariffs and the looming threat of a potential recession in the United States. Mumbai: Rupee appreciated 34 paise to 84.96 against the US dollar in early trade on Friday, as the greenback’s broad-based weakness following the impact of Trump’s tariffs offered relief to emerging market currencies, including the rupee. The key catalysts for the rupee’s rebound include the fall in crude oil prices and the weakness of the American currency in the overseas market. Forex traders said the American…

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    • 4 April
      260

      US reciprocal tariff may shave off India’s GDP by up to 50 bps: Experts

      India, however, is likely to be relatively less impacted among Asian economies as other countries have been hit by higher tariff rates or run a larger trade surplus with the US New Delhi: The reciprocal tariff announced by the Trump administration can shave off India’s GDP growth rate by up to 50 basis points to 6 per cent and the country’s exports to the US could fall by 2-3 percentage points in the current fiscal, experts said on Thursday. EY Chief Policy Advisor D K Srivastava said, “the maximum adverse impact on India’s GDP growth will not be higher than 50 basis points. As per our earlier projection, the GDP growth estimate for current fiscal was 6.5 per cent, which may go down…

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    • 4 April
      269

      India imposes ‘uniquely burdensome’ certification requirements: White House  

      The White House fact sheet, read by Trump says India’s uniquely burdensome and duplicative testing and certification requirements in sectors such as chemicals, telecom products, and medical devices make it difficult or costly for American companies to sell their products in India New York: India imposes its “own uniquely burdensome” testing and certification requirements in sectors such as chemicals, telecom products, and medical devices, making it “difficult or costly” for American companies to sell their products in the country, the White House said. In a fact sheet issued after US President Donald Trump announced sweeping reciprocal tariffs on countries that levy taxes on US goods, the White House stated that non-tariff barriers — meant to limit the quantity of imports/exports and protect domestic industries — also deprive US manufacturers of reciprocal access to…

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    • 3 April
      262

      Ferrari opens showroom in Bengaluru. ‘Hope they sell roads too, as an accessory’, say netizens

      Ferrari is reportedly paying Rs 8 lakh as rent for a 10,000-square-foot showroom space in Bengaluru Bengaluru: One would think Ferrari reportedly paying Rs 8 lakh as rent for a 10,000-square-foot showroom space in Bengaluru would bring laurels to the IT hub. Instead, the internet is trolling the city, asking where the roads are to drive the supercar. Bengaluru’s first Ferrari showroom opened near the ITC factory in Meenakunte Hosur village, near Kempegowda International Airport, towards the end of March. While it may already be a crowd-puller, it has also sparked a raging online debate, once again highlighting the city’s pothole-ridden roads. Tongue-in-cheek, ‘X’ user @DoctorC28 asked, “Where will we even drive this car in Blore? The potholes are so deep, how will…

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    • 3 April
      259

      Maruti cars turn costlier

      India’s largest carmaker said it has planned to increase car prices due to rising input costs, operational expenses, regulatory changes and feature additions New Delhi: The country’s largest carmaker Maruti Suzuki India on Wednesday said it will increase prices of various models by Rs 2,500-62,000, from April 8. The company has planned to increase car prices due to rising input costs, operational expenses, regulatory changes and feature additions, the auto major said in a regulatory filing. While the company is committed to optimising costs and reducing the impact on its customers, it is constrained to pass on some of the increased expenses to the market, it added. The company said it will hike price of compact SUV Fronx by Rs 2,500, Dzire Tour…

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    • 3 April
      241

      NMDC dawns on a new fiscal, conquering March with record Q4 sales

      The company achieved its highest-ever Q4 sales performance since inception, with sales rising to 12.66 MnT. Hyderabad: NMDC Limited, India’s largest iron ore producer and a state-owned mining giant, has successfully achieved the 44.04 MnT production and 44.4 MnT sales milestone in the fiscal year ending March 2025. The company achieved its highest-ever Q4 sales performance since inception, with sales rising to 12.66 MnT. In March 2025, NMDC’s production stood at 3.55 MnT, while sales rose 6 per cent year-on-year to 4.21 MnT, up from 3.96 MnT in March FY24. In the year ending quarter, NMDC showed a stable growth trajectory, reporting a production of 13.27 MnT in Q4 FY25. Sales witnessed a 6 per cent sequential increase from the December quarter…

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    • 3 April
      245

      Govt appoints NCAER Director General Poonam Gupta as RBI Deputy Governor

      The post of the Deputy Governor of RBI fell vacant after M D Patra demitted office in January. New Delhi: The government has approved the appointment of NCAER Director General Poonam Gupta as Deputy Governor of the Reserve Bank of India for a period of three years, according to sources. The post of the Deputy Governor of RBI fell vacant after MD Patra demitted office in January. The sources said the Appointments Committee of Cabinet (ACC) approved Gupta’s appointment for the post of Deputy Governor in the RBI for three years from the date of joining, sources said. Currently, Gupta is the Director General of National Council of Applied Economic Research (NCAER), India’s largest economic policy think tank. She is also a member…

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