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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

    • Mar- 2025 -
      24 March
      441

      Maruti, Mahindra and hyundai cars set to get costlier from this April 

      Reasons for the companies to announce price hikes include appreciation of US Dollar against the rupee impacting on input costs, tepid demand for entry-level vehicles, and number of features getting added in the cars New Delhi: Cars are set to get costlier from April, with various automakers like market leaders Maruti Suzuki, Mahindra & Mahindra, and Hyundai, announcing price hikes due to rising input costs and operational expenses. Maruti Suzuki India, which leads the domestic passenger car segment in the country, plans to hike prices of its entire model range by up to 4 per cent from next month. The auto major currently sells various models, ranging from the entry-level Alto K-10 to the multiple-purpose vehicle Invicto in the domestic market, with prices ranging from Rs 4.23 lakh to Rs 29.22 lakh, respectively (ex-showroom Delhi). Its…

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    • 23 March
      382

      PLI scheme for telecom products sees Rs 4,081 cr investment, sales worth Rs 78,672 cr

      The Department of Telecommunications (DoT) notified the PLI scheme on February 24, 2021 to boost domestic manufacturing of telecom and networking products in India with an outlay of Rs 12,195 crore. New Delhi: In a boost for the “Make in India” initiative, the production-linked incentive (PLI) scheme for telecom and networking products has seen an investment of Rs 4,081 crore (as on January 31), generating total sales of Rs 78,672 crore. It includes export sales worth Rs 14,963 core. Additionally, it has generated employment for 26,351 people, said DThe Department of Telecommunications (DoT) notified the PLI scheme on February 24, 2021 to boost domestic manufacturing of telecom and networking products in India with an outlay of Rs 12,195 crore. The scheme guidelines…

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    • 23 March
      403

      National Broadband Mission: Tamil Nadu leads with rollout in over 10,000 Gram Panchayats

      To improve broadband connectivity in rural areas, the government launched the Gati Shakti Sanchar Portal on May 14, 2022, thus streamlining Right of Way (RoW) permissions for Optical Fiber Cable (OFC) laying and telecom tower installation. New Delhi: The National Broadband Mission (NBM) has helped bridged the digital divide in rural areas in the country and Tamil Nadu leads in broadband rollout with over 10,000 Gram Panchayats now service-ready, the government has said. The National Broadband Mission (NBM) 2.0 starts from April 1 and builds upon the strengths and experiences gained from the NBM 1.0 and aims to propel India into a new era of digital transformation and global competitiveness, said Dr Pemmasani Chandra Sekhar, Minister of State for Communications And Rural…

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    • 23 March
      227

      IndusInd Bank may see a new CEO by October, replacing Sumant Kathpalia: Report

      The board will need to come up with replacement by October, adding that it is unclear if only external names will form part of the shortlist or if any internal candidates will be considered New Delhi: IndusInd Bank may see a new CEO, replacing Sumant Kathpalia, in six months and once the potential names are submitted to the Reserve Bank of India (RBI), the Central Bank will finalise Kathpalia’s successor. The board will need to come up with replacement by October, according to a report by NDTV Profit, adding that it is unclear if only external names will form part of the shortlist or if any internal candidates will be considered. In a normal course, a bank’s board must submit potential…

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    • 22 March
      284

      Rupee gains 17 paise to 86.19 against US dollar on FII inflows, strong equities

      Forex traders attributed the rupee’s gains to FPIs becoming net buyers in equities for the second time this week while making substantial investments in debt. At the interbank foreign exchange, the rupee opened at 86.26 against the US dollar, strengthened further, and reached 86.19, marking an appreciation of 17 paise from its previous close. Mumbai: The rupee appreciated 17 paise to 86.19 against the US dollar in early trade on Friday, tracking positive domestic equities and fresh foreign fund inflows. Forex traders said the rupee has been gaining as FPIs turned net buyers for the second time during the week with respect to equity and have been buying heavily into debt. At the interbank foreign exchange, the rupee opened at 86.26…

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    • 22 March
      285

      Sensex, Nifty rebound after early losses on fresh FII inflows

      The 30-share BSE Sensex fell by 252.8 points to 76,095.26 in early trade, while the NSE Nifty slipped 57.85 points to 23,132.80. However, both benchmark indices rebounded, erasing their initial losses and moving into positive territory. The Sensex climbed 205.09 points to 76,550.97, while the Nifty advanced 70.05 points to 23,262.55. Mumbai: Equity benchmark indices Sensex and Nifty opened on a negative note on Friday but soon recovered the lost ground and were trading with gains as fresh foreign fund inflows supported investors’ sentiments. The 30-share BSE benchmark Sensex declined 252.8 points to 76,095.26 in early trade. The NSE Nifty dropped 57.85 points to 23,132.80. However, later both the benchmark indices recovered all the early lost ground and were trading higher.…

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    • 22 March
      242

      SEBI cracks down on multiple companies for misappropriation of funds for personal use

      SEBI is reported to have initiated investigations against these companies for the alleged illegal diversion of funds by promoters to their relatives or front companies for personal use rather than the declared purpose for which the money was raised Mumbai: The Securities and Exchange Board of India (SEBI) has cracked down on multiple companies for misappropriation of funds raised through rights issues in the stock markets, after receiving complaints from whistleblowers. SEBI is reported to have initiated investigations against these companies for the alleged illegal diversion of funds by promoters to their relatives or front companies for personal use rather than the declared purpose for which the money was raised. The capital markets watchdog is currently looking into four or five…

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    • 22 March
      238

      Adani Energy Solutions wins Rs 2,800 crore transmission project in Gujarat

      The project, to be delivered to the nation in 36 months, will supply green electrons for manufacturing Green Hydrogen and Green Ammonia in Mundra Ahmedabad: Adani Energy Solutions Ltd (AESL) on Friday announced it has won Rs 2,800 crore worth of power transmission project in Gujarat. The project, to be delivered to the nation in 36 months, will supply green electrons for manufacturing Green Hydrogen and Green Ammonia in Mundra, said India’s largest private transmission and distribution company and part of the globally diversified Adani Portfolio. This is Adani Energy Solutions’ sixth order win this fiscal year, taking its order book to Rs 57,561 crore. The project involves upgrading the Navinal (Mundra) electrical substation by adding two large 765/400 kV transformers.…

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    • 22 March
      229

      SSF Plastics India Ltd files draft papers for Rs 550 crore IPO

      The proposed IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of Rs 250 crore by promoters and promoter group entities New Delhi: SSF Plastics India Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 550 crore through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of Rs 250 crore by promoters and promoter group entities, according to the draft red herring prospectus (DRHP) filed on Thursday. At present, promoters and promoter group entities hold 100 per cent stake in the company. Proceeds from the fresh issue will be utilised for…

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    • 21 March
      223

      Adani Group to strengthen foothold in realty space, in talks to buy Emaar’s India business

      Emaar Properties entered the Indian real estate market in 2005 in partnership with India’s MGF Development. It has a large portfolio of residential and commercial spaces across Delhi-NCR, Mumbai, Mohali, Lucknow, Indore and Jaipur New Delhi: Billionaire Gautam Adani’s group is in advanced talks to acquire real estate company Emaar India for an enterprise value of around $1.4-1.5 billion as it looks to expand its property business, according to sources. Dubai-based Emaar Properties entered the Indian real estate market in 2005 in partnership with India’s MGF Development and invested Rs 8,500 crore through the joint venture firm Emaar MGF Land. In April 2016, Emaar Properties decided to end the joint venture through a demerger process. Emaar India has a large portfolio of residential…

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