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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 -
      18 March
      325

      Ola Electric market valuation erodes by Rs 1,601 crore as shares hit all-time low on March 17

      Rosmerta Digital Services Ltd, its vehicle registration service provider, has sought initiation of insolvency proceedings against Ola Electric Technologies Pvt Ltd New Delhi: Shares of Ola Electric Mobility Ltd ended over 7 per cent lower on Monday after the firm said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly-owned arm Ola Electric Technologies Pvt Ltd. The stock slumped 7.18 per cent to settle at Rs 46.91 on the BSE. During the day, it hit the record low of Rs 46.40, reflecting a decline of 8.19 per cent. At the NSE, shares of the firm tumbled 7.22 per cent to Rs 46.86. Intra-day, the stock dropped 8.13 per cent to Rs 46.40 —…

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    • 17 March
      369

      Ignore speculation, bank remains strong, RBI assures IndusInd Bank depositors

      The central bank also highlighted its strong track record in protecting depositors during financial uncertainties. Mumbai: The Reserve Bank of India (RBI) assured IndusInd Bank depositors of its financial stability following recent speculation about its financial health. The central bank confirmed that the bank remains well-capitalised and there is no cause for concern among depositors. “…there is no need for depositors to react to the speculative reports at this juncture,” the central bank said in a statement on its website. It further added that the bank’s financial health remains stable and is being monitored closely by the Reserve Bank. According to the RBI, IndusInd Bank reported a Capital Adequacy Ratio (CAR) of 16.46 per cent and a Provision Coverage Ratio (PAR)…

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    • 17 March
      307

      18 N-plants planned to generate 13,800 MW: Govt data

      At present, nuclear power reactors are located at 24 sites, including those in Tamil Nadu, Gujarat, Maharashtra, Karnataka, Rajasthan and Uttar Pradesh. New Delhi: The Indian government proposes to build 18 more nuclear power reactors with a cumulative capacity of generating 13,800 MW of electricity and five sites have already been given in-principle approval, as per official documents. The installed capacity of nuclear power plants in Tamil Nadu comprises of MAPS-1&2 (2X220 MW) at Kalpakkam and KKNPP-1&2 (2X1,000 MW) at Kudankulam. Together, the installed nuclear power capacity is 2,440 MW, which is around 30 per cent of the country’s total installed capacity of 8,180 MW. At present, nuclear power reactors are located at 24 sites, including those in Tamil Nadu, Gujarat,…

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    • 17 March
      367

      FIIs selling decline in Indian market, to stabilise in next quarter: Experts

      This month (up to March 14), FIIs have sold equity for Rs 30,015 crore, taking the total equity sold in CY 2025 so far to Rs 1,42,616 crore. New Delhi: FII selling in India continues in early March, but the intensity of selling is slowly declining as valuations are becoming reasonable in the stock market, according to experts. This month (up to March 14), FIIs have sold equity for Rs 30,015 crore, taking the total equity sold in CY 2025 so far to Rs 1,42,616 crore. In the debt category FIIs were buyers in March so far. The total buy figure for debt (general category plus VRR) stood at Rs 7,029 crore in March to date, say market watchers. However, the…

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    • 17 March
      364

      WPI inflation, US Fed rate decision among key market triggers for next week

      Midcaps and small caps witnessed large selling compared to large caps. Mumbai: The market outlook for next week will be guided by global and Indian factors such as India WPI Inflation, Foreign Institutional Investors (FIIs) activity, US Fed interest rate decision, US initial jobless claims and others. Between March 10-13, Nifty fell 147.50 points, or 0.65 per cent, to 22,397.20 and Sensex fell 511.18 points, or 0.69 per cent, to 73,828.91. The market was closed on March 14 on the account of Holi. Midcaps and small caps witnessed large selling compared to large caps. The Nifty Midcap 100 index fell 1,223 points, or 2.48 per cent, to 48,125.10 and the Nifty Smallcap 100 index fell 503 points, or 3.27 per cent,…

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    • 17 March
      333

      BOK rules out inclusion of bitcoin in foreign exchange reserves

      Seoul: The South Korean central bank has called for a “cautious approach” to the idea of including bitcoin as foreign exchange reserves given its price volatility, officials said on Sunday. There have been discussions among lawmakers about the possible inclusion of cryptocurrencies in its strategic reserves after US President Donald Trump announced the establishment of a strategic bitcoin reserve and digital asset stockpile earlier this month. In an answer to a question by Rep. Cha Gyu-geun of the minor Rebuilding Korea Party, the Bank of Korea (BOK) said it “has neither discussed nor reviewed the possible inclusion of bitcoin in foreign exchange reserves” and “a cautious approach is needed” to the matter. The BOK cited high volatility in bitcoin prices as a…

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    • 16 March
      461

      Opinion: India’s AI needs an Isro-like push

      To revitalise nation-building with advanced technologies, India needs a strong technological force like ISRO, which has made a significant mark in the international Space industry By Sudhanshu Kumar If one looks at the biggest tech companies in the world in the top 50 list, one could find many well-known names such as Apple, Microsoft and Google — American companies — as well as Asian tech giants like Tencent, TSMC and Alibaba. In the game of Big Tech competition, two continents are very well represented — North America and Asia. Interestingly, it is difficult to find any European companies in the top 10. In fact, in the top 50 list, shockingly, there are only a few European tech companies. This has…

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    • 16 March
      309

      SpaceX’s Starship will launch for Mars by 2026, human landings likely in 2031: Elon Musk

      In a post shared on social media platform X, SpaceX CEO Musk said Starship will carry Tesla humanoid robot Optimus to Mars. If conditions look suitable for humans, it could start “as soon as 2029.” New Delhi: SpaceX’s Starship and heavy booster — the world’s biggest and most powerful rocket system — will launch for Mars by 2026, and human landings on the Red Planet will likely begin in 2031, said billionaire Elon Musk on Saturday. In a post shared on social media platform X, SpaceX CEO Musk said Starship will carry Tesla humanoid robot Optimus to Mars. If conditions look suitable for humans, it could start “as soon as 2029.” “Starship departs for Mars at the end of next year, carrying Optimus,” Musk said.…

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    • 16 March
      341

      March 15 is due date for paying advance tax. What happens if you miss the deadline?

      As per the Income-Tax Act, 1961, individuals whose estimated tax liability exceeds Rs 10,000 during the year are required to pay advance tax New Delhi: The due date for paying the final instalment of advance tax for the financial year 2024-25 is March 15, failing to pay may attract a penalty, according to the Income Tax department. As per the Income-Tax (I-T) Act, 1961, individuals whose estimated tax liability exceeds Rs 10,000 during the year are required to pay advance tax. This requirement applies even to salaried taxpayers, as their employers may only deduct tax from their salaries and not account for additional income like capital gains or interest from fixed deposits. However, there is an exemption for senior citizens who…

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    • 16 March
      324

      IndusInd Bank well-capitalised, RBI assures depositors

      In its statement, the RBI emphasised that depositors should not react to speculative reports, as the bank’s financial position remains sound and is under its close monitoring Mumbai: The Reserve Bank of India (RBI) assured IndusInd Bank depositors of its financial stability following recent speculation about its financial health.The central bank confirmed that the bank remains well-capitalised and there is no cause for concern among depositors. “There is no need for depositors to react to the speculative reports at this juncture,” the central bank said in a statement on its website. It further added that the bank’s financial health remains stable and is being monitored closely by the Reserve Bank. According to the RBI, IndusInd Bank reported a capital adequacy ratio (CAR) of…

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