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MUMBAI: IDFC First Bank reported a 48.1% jump in net profit to Rs 503 crore for the third quarter ended December, from Rs 339 crore in the corresponding quarter last year. The increase was helped by higher core income, lower sequential provisions and an improvement in asset quality.The bank’s bottom line improved aided by stronger…
India emerged as one of the fastest-growing steel markets as global steel prices rose across major regions in April and early May, according to a Goldman Sachs report. In its “Global Steel: The Steel Market Barometer – May Update”, Goldman Sachs said average hot rolled coil (HRC) prices increased across nearly all major markets in…
Check out the companies making the biggest moves premarket: EchoStar — Shares rose nearly 4.5% after the Federal Communications Commission approved the company’s $40 billion sale of wireless spectrum to AT & T and SpaceX. The company is selling 50 megahertz of its spectrum to AT & T and 65 megahertz to SpaceX. Alibaba —…
NEW DELHI: Govt is set to introduce major changes in the Model Concession Agreement (MCA) to de-risk private investments and safeguard lenders’ exposure in highway sector.The revised provisions, to be notified within a fortnight, include revenue support and extension of tolling periods in cases where actual traffic falls below projections, buyback of projects where traffic…
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Payward, the parent company of crypto exchange Kraken, has completed its acquisition of Bitnomial, giving the firm a full U.S. derivatives stack regulated by the Commodity Futures Trading Commission (CFTC). The deal gives Payward control of Bitnomial’s futures broker, exchange and clearinghouse licenses. That structure allows Payward to offer regulated crypto derivatives in the U.S….
Maoist commander Ganesh, 3 others killed in encounter BHUBANESWAR/BERHAMPUR/HYDERABAD: He vanished at will – sometimes robed as a swamiji, stick in hand, towel over his shoulder – shedding names as easily as trails. On Thursday, bullets caught up with Maoist commander Paka Hanumanthu, better known as Ganesh Uike, with a collective bounty of Rs 1.1…
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DEHRADUN: Uttarakhand CM Pushkar Singh Dhami recommended Friday a CBI inquiry into the “mystery VIP” connected with the 2022 murder of a 19-year-old receptionist at a Rishikesh resort owned by a BJP functionary’s son, reports Kautilya Singh. The decision came following days of protests by several civic groups and opposition Congress on the issue, as…
