Union Bank of India posted a 22.68 per cent jump in consolidated net profit at Rs 1,557.09 crore for March quarter 2021-22. On a standalone basis, the lender reported an 8.26 per cent growth in net profit at Rs 1,440 crore. The lender ended FY22 with an 80 per cent jump in profit after tax at Rs 5,232 crore. The other income slid by 25.10 per cent to Rs 3,243 crore.

Brokerage house IIFL Securities thinks one of the largest SaaS majors in India, RateGain Technologies is all set to benefit from this. As the global travel market is recovering rapidly, and the pandemic is boosting digital switch in the travel space. Further, it sees the firm is well positioned to raise its wallet share as compared to peers with a target price of ₹450, suggesting 45% upside.

Tata Motors shares surged on Friday after the company posted a narrowing consolidated net loss at Rs 992.05 crore in the fourth quarter ended March. The company had reported a consolidated net loss of Rs 7,585.34 crore in the same period last fiscal. Its total consolidated revenue from operations stood at Rs 78,439.06 crore in the fourth quarter.

Escorts Ltd posted a 28.42 per cent decline in consolidated net profit at Rs 189.98 crore in the fourth quarter ended March 2022. The company had posted a consolidated net profit of Rs 265.41 crore in the same quarter of the previous fiscal. Consolidated revenue from operations during the quarter under review stood at Rs 1,878.51 crore as against Rs 2,228.75 crore in the year-ago period.

The Telecom Regulatory Authority of India has come up with a speed chart of telecom service providers for April 2022. Wherein, Reliance Jio recorded at the top in speed chart. At the same point, Vodafone Idea is leading in terms of upload speed. However, the work pal Bharti Airtel has noticed a marginal improvement in average download speed during the ongoing month.

On Friday, the gold prices plunged extending a fourth consecutive weekly decline, worried by the overall strength in the dollar on predictions of aggressive interest rate hikes by the U.S. Federal Reserve. Spot gold fell 0.2% to $1,817.39 per ounce by 1039 GMT, after hitting $1,810.86, its lowest since Feb 7th. Bullion has lost over 3% so far this week.

Vodafone Idea Ltd and Ericsson have announced an achievement in technology space during the ongoing 5G trials in Pune. The trail was recorded by demonstrating a top download speed of 5.92 gigabits per second. Previously when they conducted 5G trials and use cases showcased in Pune, VIL had recorded speeds of over 4 Gbps. Further, the firm is ready for making ‘5G for a Better Tomorrow’ in India.

RattanIndia Power posted a loss of Rs 306.39 crore for the quarter ended March mainly due to lower revenues. The consolidated net profit of the company was Rs 39.28 crore in the year-ago period. Total income during the quarter came down to Rs 1,032.75 crore from Rs 1,343.26 crore in the same period a year ago. In the 2021-22 fiscal, the consolidated net loss widened to Rs 1,981.45 crore.

Twitter shares plunged 17.7% to $37.10 in premarket trading after Elon Musk announced that his $44-billion deal for Twitter Inc is temporarily on hold. The plunge in Twitter shares is said to be the lowest level since Musk disclosed his stake in the company in early April and subsequently made a "best and final" offer to take it private for $54.20 per share.

The European Parliament-approved crypto regulatory proposal is not sitting well with The European Commission. Some of the provisions in the proposals are disagreed upon by the Commission. The European Parliament voted on the draft less than two months ago. The measures to combat money laundering and the financing of terrorism are points of concern for the executive body.

France's embattled retirement-home owner, Orpea SA has announced that it has secured 1.73 billion euros ($1.8 billion) of funds from banks. Because the company faces hiked costs and debt maturities. Orpea hopes to sell 3 billion euros of assets by end of 2025 to trim debt. Further, it would not pay a dividend this year, as the expense it sees are to overhaul its operations.

Bank of Baroda's PAT surged nine-fold to Rs 7,272 cr for the year ended March 2022 as against a PAT of Rs 829 cr posted in the corresponding quarter of the previous fiscal. The net interest income for the year also grew by 13% to Rs 32,621 cr as compared to the NII of Rs 28,809 cr for FY21. In Q4FY22, the bank's PAT stood at Rs 1,779 cr as against a loss of Rs 1,047 cr in Q4FY21.

TerraUSD's fall (UST) is not a wake-up call for financial stability, states Janet Yellen, former FED Chair. She added that currently, the stablecoins can't invoke a systematic risk as the stablecoin market is yet not large enough. Even though Janet Yellen reassured financial markets, a consideration has to be given as the total market cap of USDT, and USDC together totals $130 billion.

Byju's operated coding learning platform, WhiteHat Jr has lost 800 of its employees over a period of two months. These employees resigned voluntarily after asking to quit WFH and being asked to return to office. However, the company had requested its employees to get back to the office in various cities like Mumbai, Bengaluru and Gurugram. Therefore, those workers have decided to quit.

In the upcoming 20 years, 15% of the global gross domestic product(GDP) will be contributed by the cryptocurrency market, according to Brian Armstrong, Coinbase CEO. Armstrong also added that the adoption of cryptocurrencies by corporations in the future would be on the same level as the internet.