Strong FY25 financial performance supports standalone credit profiles of banks: Fitch
Fitch Ratings highlights the robust financial performance of Indian banks in fiscal year 2025. This strengthens their credit profiles and sets the stage for expansion. The sector shows improved asset quality and strong capital. Public sector banks’ net profit reached a record high. State Bank of India contributed significantly to the total earnings. Steady performance […]
Walmart-backed PhonePe may seek $1.5 billion in Indian IPO
PhonePe, India’s largest digital payments provider, is gearing up for an initial public offering. The IPO could potentially raise $1.5 billion. The fintech company may file preliminary documents as early as August. The deal could value PhonePe at around $15 billion. Kotak Mahindra Capital, JPMorgan, Citigroup, and Morgan Stanley are managing the offering.
The Iran-Israel conflict isn’t denting Chinese business optimism in the Middle East
“Overall, Chinese merchants are relatively optimistic,” says Bear Huo, China general manager at FundPark, a fintech startup.
Reliance Infra clears Rs 273 crore JR Toll Road loan with Yes Bank
Reliance Infrastructure announced its subsidiary, JR Toll Road Pvt Ltd, has fully settled a ₹273 crore loan, including interest, with Yes Bank. Reliance Infrastructure acted as the corporate guarantor for the loan. This repayment marks a significant step in Reliance Infra’s debt reduction efforts, clarifying that Yes Bank holds no equity in the company.
China car suppliers can be early winners in the humanoid race, Morgan Stanley says
If the future is all about building mechanical mobility, whether on wheels or robotic legs, auto parts suppliers have a competitive edge.
Why electricity prices are surging for U.S. households
Electricity prices are outstripping the pace of inflation by a wide margin — a trend likely to continue in coming years, experts said.
Stocks making the biggest moves midday: GXO Logistics, CarMax, Nvidia, Circle and more
These are the stocks posting the largest moves midday.
JPMorgan Chase beefs up mobile app with bond trading as bank targets $1 trillion in assets
JPMorgan, the biggest U.S. bank by assets and a leader across most major categories of finance, is relatively puny among online brokerages.
Fed Governor Waller says central bank could cut rates as early as July
The central banker said he and his colleagues should move slowly but start to ease as inflation is now longer a major threat.
Stocks making the biggest moves premarket: CarMax, Darden Restaurants, Accenture, GMS
These are the stocks posting the largest moves in early trading.