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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 -
      16 March
      411

      This Chinese F&B chain overtakes Starbucks, McDonald’s

      Chinese food and beverage brands are gaining ground across Southeast Asia. The push by food and drink retailers has raised awareness that China has more to offer than just cheap electronics  Hong Kong: Chinese food and beverage brands are gaining ground across Southeast Asia, offering alternatives to big name American chains and expanding Beijing’s commercial and cultural influence in neighbouring economies. The Chinese beverage giant Mixue Group has become the world’s largest F&B chain by number of outlets, overtaking Starbucks and McDonald’s. The company, whose brand name Mixue Bingcheng means “Honey Snow Ice City”, in Chinese, is capitalising on the region-wide sweet tooth with affordable offerings of ice cream, coffee and bubble tea drinks. “Even on social media like TikTok and others,…

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    • 15 March
      221

      India has taken the lead in financing renewable energy projects: Sanjay Malhotra

      Malhotra says “We have included finance to small renewable energy projects – solar, biomass based, windmills, micro-hydel plants and non-conventional energy based public utilities viz street lighting systems, and remote village electrification projects as part of priority sector lending” New Delhi: India has taken the lead in providing finance to renewable energy projects by including them in “priority sector lending” to accelerate the country’s transition to a low carbon economy in the fight against climate change. Addressing a policy seminar on Climate Change Risks and Finance, RBI Governor Sanjay Malhotra said, “Central Banks in Advanced Economies have traditionally followed an asset neutral approach. Central Banks in emerging markets and developing economies, on the other hand, have adopted directed lending policies to…

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    • 15 March
      211

      RBI likely to cut rates next month amid easing inflation: HSBC

      “The RBI has already embarked on a rate cutting cycle and is likely to go in for another 25 basis points reduction in the April monetary policy committee meeting, taking the repo rate to 6 per cent,” HSBC Research said New Delhi: After the decline in retail inflation in February to 3.6 per cent, the March inflation print is also trending below the RBI‘s 4 per cent target which is likely to lead to another rate cut by the central bank next month, according to an HSBC Research report. “The RBI has already embarked on a rate cutting cycle and is likely to go in for another 25 basis points reduction in the April monetary policy committee meeting, taking the repo rate to 6…

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    • 15 March
      218

      Bank unions to go on two-day nationwide strike

      Talks with Indian Banks’ Association over key demands, including recruitment in all cadres and a five-day workweek, fail to yield positive outcome Kolkata: The United Forum of Bank Unions (UFBU) on Thursday said its two-day nationwide strike on March 24 and 25 will be observed as scheduled since discussions with the Indian Banks’ Association (IBA) over key demands failed to yield any positive outcome. In a meeting with the IBA, all UFBU constituents raised issues, including recruitment in all cadres and a five-day workweek. Still, the key issues remained unresolved, National Confederation of Bank Employees (NCBE) general secretary L Chandrasekhar said. The UFBU, an umbrella body of nine bank employees’ associations, earlier announced the strike to press for these demands which included filling…

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    • 15 March
      207

      Happy Holi, says Apple CEO Tim Cook with colourful picture

      The Apple CEO posts a vibrant picture shot on the iPhone, on his X New Delhi: Apple CEO Tim Cook on Friday extended wishes for Holi, the festival of colours, with a vibrant picture shot on the iPhone. “Happy Holi to all those celebrating!” said Cook, in a post on social media platform X, along with a picture showcasing the festival’s vibrant colour and joy, shot on the iPhone. The image was clicked by photographer Kushagra Tiwari. “May it be as joyous and fun as Kushagra Tiwari’s beautiful #ShotOniPhone photo,”he added. The picture showcases a person standing in a field, wearing an orange and pink outfit. The person holds a plate filled with blue, pink, mint green, and yellow powder and white,…

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    • 15 March
      201

      Musk’s Tesla wants to sell these two models in India

      Tesla India Motor & Energy Pvt Ltd, the local unit of Musk’s firm, has submitted two new applications for homologation, according to industry sources New Delhi: Elon Musk-led Tesla Inc has initiated the process for the certification and homologation of two of its electric cars in India, which is an essential requirement for all vehicles before they can be sold in the country. Tesla India Motor & Energy Pvt Ltd, the local unit of Musk’s firm, has submitted two new applications for homologation of the Model Y and Model 3 cars in India, according to industry sources. Homologation is the process of certifying that a vehicle is roadworthy and meets the norms laid out for all vehicles manufactured in India or imported into…

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    • 15 March
      309

      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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    • 14 March
      241

      Rupee rises 19 paise to 87.03 against US dollar amid strong macroeconomic data

      Forex analysts noted that rising global tariff tensions kept driving foreign capital outflows, but the local currency gained support from a weaker U.S. dollar index and lower crude oil prices. Mumbai: The rupee appreciated 19 paise to 87.03 against the US dollar in early trade on Thursday, buoyed by a favourable macroeconomic data that also led to a buying rush in domestic equity markets. According to forex analysts, escalated tariff tensions worldwide continued to fuel the foreign capital outflow, but a weaker American currency index and lower level of crude oil prices added strength to the local unit. At the interbank foreign exchange, the rupee opened stronger at 87.13 and touched a high of 87.03 against the greenback in early deals,…

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    • 14 March
      230

      Ola Electric offers discounts of up to Rs 26,750 on S1 e-scooters

      The company is also offering discounts of up to Rs 25,000 on the rest of its S1 range, including all the scooters from its latest S1 Gen 3 range New Delhi: Ola Electric on Thursday announced limited-time Holi flash sale offers for its S1 range of electric scooters. Under this sale, customers can avail discounts of up to Rs 26,750 on S1 Air and Rs 22,000 on S1 X+ (Gen 2), with the models now starting at Rs 89,999, and Rs 82,999, respectively, the company said in a statement. The flash sale began on March 13 and ends on March 17. The company is also offering discounts of up to Rs 25,000 on the rest of its S1 range, including all…

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    • 14 March
      210

      Singapore’s Temasek buys 10 per cent stake in Haldiram Snacks Food

      The Agarwal family, promoters of Haldiram Snacks Food, may rope in another investor for selling some more stake in the company which had a revenue of over Rs 12,500 crore in FY24 New Delhi: Temasek, Singapore’s sovereign investment firm, is acquiring a minority 10 per cent stake in Haldiram Snacks Food — India’s largest packed snack and sweets company and restaurant operator — at a valuation of USD 10 billion, according to industry sources. It signed a definitive term sheet agreement earlier this week at a valuation of USD 10 billion (around Rs 85,000 crore), which is considered to be the largest for the Indian packed food industry, they said. The Agarwal family, promoters of Haldiram Snacks Food, may rope in another investor…

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