Federal Bank reported nearly flat net profit at Rs 906 crore for the quarter ended March 31, according to the exchange filing issued on May 2.Sequentially, the net profit fell 10 percent from Rs 1,007 crore in Q3FY24, the filing showed. Shares of Federal Bank were trading over 3 percent higher at Rs 167.7 apiece on BSE post earnings announcement. The stock rose by nearly 5% to hit 52-weak high.
Open Flip
In a recent report, global brokerage firm BofA upgraded its rating on Vodafone Idea from 'underperform' to ‘neutral’ as the brokerage finds VIL offers the highest leverage for tariff hike (5% ARPU increase leads to 12% EPS increase).Moreover, the brokerage pointed out that the recent fundraise by the company is expected to enhance its 4G network coverage, which could mitigate market share decline.
Open Flip
NPCI on Thursday said its overseas arm has signed a pact with the Bank of Namibia (BoN) for developing a UPI-like instant payment system for Namibia.By leveraging technology and experiences from India's UPI, the partnership seeks to help Namibia modernize its financial ecosystem. This includes improving accessibility, affordability and connectivity with both domestic and international payment.
Open Flip
