Crypto market cap losses nearly $1 trn
Bitcoin and ethereum posted their largest one-day drop since March last year on Wednesday, with losses in the market capitalisation for the entire cryptocurrency sector approaching $1 trillion.
The sharp declines came after China banned financial and payment institutions from providing cryptocurrency services. Read more
IOC net rises to Rs 8,781 cr in Jan-Mar quarter
Indian Oil Corporation (IOC), the nation's biggest oil firm, on Wednesday reported a better-than-expected net profit of Rs 8,781.30 crore in the March quarter, helped by a surge in refining margins as higher crude prices boosted the inventory value.
Standalone net profit in January-March was at Rs 8,781.30 crore, or Rs 9.56 a share, compared with a loss of Rs 5,185.32 crore in the same period a year back, IOC Chairman S M Vaidya said. Read more