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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…
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    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 -
      14 March
      224

      Govt launches India’s first-ever auction of Exploration Licences for critical minerals

      The licences are for the exploration blocks for minerals like REE (rare earth elements), zinc, diamond, copper and PGE (platinum group minerals) Panaji: Union Coal and Mines Minister G Kishan Reddy on Thursday launched nation’s first-ever auction of Exploration Licences (ELs) for 13 exploration blocks for critical minerals. Reddy launched the ELs in the presence of Goa Chief Minister Pramod Sawant in Dona Paula near here, a major reform aimed to unlock India’s untapped critical and deep-seated mineral resources. The licences are for the exploration blocks for minerals like REE (rare earth elements), zinc, diamond, copper, PGE (platinum group minerals) and others. The programme also featured a roadshow on the 5th Tranche of Critical Mineral Blocks and the launch of AI Hackathon 2025, a Mineral…

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    • 14 March
      215

      Editorial: Time for India-Canada to reset bilateral ties

      An important foreign policy task before Mark Carney is to repair the damage caused to the bilateral ties during Trudeau’s tenure The election of Mark Carney as leader of the Liberal Party and Prime Minister-designate, following the exit of Justin Trudeau, marks a significant political shift in Canada and raises hopes of re-setting bilateral relations with India that came under severe strain in recent times. An important foreign policy task before Carney, a banker-turned-politician, is to repair the damage caused to the bilateral ties during Trudeau’s tenure. Facing a plummeting popularity rating, the former Prime Minister made a sensational allegation linking Indian intelligence agents to the killing of a Sikh separatist leader, Hardeep Singh Nijjar, in British Columbia in 2023. The unsubstantiated charge,…

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    • 13 March
      221

      Rupee trades flat at 87.22 against dollar amid volatile market sentiment

      Forex analysts note that the local currency faced additional pressure from a strengthening U.S. dollar index and a rebound in crude oil prices, compounding the impact of selling in domestic equities and the ongoing outflow of foreign capital. Mumbai: The rupee turned almost flat and traded with a marginal loss of 1 paisa at 87.22 against the US dollar in early trade on Wednesday amid volatile sentiment due to uncertainties over trade tariff. According to forex analysts, a strengthening American currency index and a recovery in crude oil prices also added pressure on the local unit, which was already weighed down due to selling in domestic equity and the continuous outflow of foreign capital. They said, market participants were also trading…

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    • 13 March
      245

      Samsung launches AI-powered Galaxy Book5 series in India with Intel Core Ultra, 25-hour battery life

      For the first time, the Galaxy Book lineup features AI-powered functions driven by Intel Core Ultra processors with a Neural Processing Unit (NPU). With instant search and extraction capabilities, Features like AI Select, along with Photo Remaster bringing AI-sparked clarity enhancement to images, the laptops also come with Microsoft Copilot+ for smart productivity. Hyderabad: Samsung has launched launched several AI-powered laptops under the Galaxy Book5 series, which are the Galaxy Book5 Pro, Galaxy Book5 Pro 360, and Galaxy Book5 360 in India giving consumers the ability to access advanced AI features, powerful performance, and enhanced battery life. For the first time, the Galaxy Book lineup features AI-powered functions driven by Intel Core Ultra processors with a Neural Processing Unit (NPU). With…

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    • 13 March
      237

      Reliance Industries, Bharti Airtel stock rise after collaboration with SpaceX

      Bharti Airtel stock opened with a gain of 5.49 per cent to hit a high of Rs 1,388.25 apiece on the National Stock Exchange (NSE), Reliance Industries’ stock also rose 1.3 per cent initially to trade at Rs 1,263 on the NSE before trading 0.40 per cent higher at Rs 1,242.50 New Delhi: Shares of Reliance Industries as well as Bharti Airtel began the trade on a positive note on Wednesday after the two firms announced their partnerships with Elon Musk’s SpaceX for providing high-speed internet services in India. Bharti Airtel stock opened with a gain of 5.49 per cent to hit a high of Rs 1,388.25 apiece on the National Stock Exchange (NSE). Soon, it pared all gains and traded…

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    • 13 March
      208

      91Springboard bets big on Hyderabad co-working space

      The company recently launched its third hub in Hyderabad at Raheja Commerzone Hetero Tower, Hitec City. With this, it now provides 1,40,000 sq ft of space, catering to startups, freelancers and large enterprises Hyderabad: 91Springboard, a flex workspace provider, is looking to scale to 5,00,000 sq ft between FY25 and FY26. The company recently launched its third hub in Hyderabad at Raheja Commerzone Hetero Tower, HITEC City. With this, it now provides 1,40,000 sq ft of space, catering to startups, freelancers and large enterprises alike. The company is betting big on Hyderabad given the city emerging as a key hub for startups and technology firms on the back of robust infrastructure, skilled workforce and favourable business environment. “We are looking at expanding…

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    • 13 March
      237

      Starlink partnerships open new era of seamless global connectivity: Sunil Bharti Mittal

      “I am glad that this is being followed through with active announcements of partnerships between satellite companies and telecom operators,” he said in a statement. New Delhi: As Airtel announced a partnership with Elon Musk‘s SpaceX to bring its affordable satellite internet service to India, Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises, said on Wednesday that a new era of seamless global connectivity beckons for customers. Mittal said that soon, customers will be able to carry their mobiles to the remotest part of the world, with them in the skies and blue oceans. In his opening remark at the recently concluded “Mobile World Congress 2025” in Barcelona, Mittal made a call to both the telecom and satellite players to work together, combine…

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    • 13 March
      177

      European Union hits back with new duties on US products as Trump’s steel tariffs kick in

      The EU measures will cover goods from the US worth 26 billion euros ($28 billion), and not just steel and aluminum, but also textiles, home appliances and agricultural goods BRUSSELS: The European Union on Wednesday announced retaliatory trade action with new duties on US industrial and farm products, responding within hours to the Trump administration’s increase in tariffs on all steel and aluminum imports to 25%. The world’s biggest trading bloc was expecting the US tariffs and prepared in advance, but the measures still place great strain on already tense transatlantic relations. Only last month, Washington warned Europe that it would have to take care of its own security in the future. The EU measures will cover goods from the United States worth some 26…

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    • 13 March
      196

      Cognizant rolls out bonus letters, highest payout in three years

      Payouts will be issued throughout March and April based on individual country payroll schedules, the company said New Delhi: IT major Cognizant has begun rolling out letters informing about bonus payouts in the range of 85-115 per cent for eligible employees, according to sources. Majority of associates (employees) are eligible for the bonus payout. An email query sent to the company seeking comments did not elicit a response. Meanwhile, sources told PTI that Cognizant, this week, began sending out mailers (eLetters) informing about bonus payouts for 2024. “Eligible associates will receive bonus eLetters this week. Payouts will be issued throughout March and April based on individual country payroll schedules,” it said. The bonus is at the highest level in three years, said the…

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    • 12 March
      251

      Hyundai Motor plans to build 1st local hydrogen fuel cell plant

      Hyundai Motor plans to build its first hydrogen fuel cell systems plant in South Korea for the start of operations in 2028 Seoul: Hyundai Motor plans to build its first hydrogen fuel cell systems plant in South Korea for the start of operations in 2028, the company’s labour union claimed on Tuesday. Hyundai Motor currently operates a hydrogen fuel cell systems plant in China. If built, the domestic facility will be the carmaker’s second such plant globally. The company will begin the plant’s construction within the year at its mainstay car manufacturing plant in Ulsan, about 305 kilometers southeast of Seoul, according to the union website, reports Yonhap news agency. “To push ahead with the plan, there should be consultations between…

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