Top headlines: CoinDCX raises $135 mn; Lavrov says Ukraine op in new stage

Business Standard brings you the top headlines on Tuesday

Crypto exchange CoinDCX raises $135 mn in funding as valuation tops $2 bn

Indian crypto exchange CoinDCX has raised $135 million in its Series D funding round, with a valuation of over $2 billion. The round was led by Pantera and Steadview and saw participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred.

The latest funding round also saw existing investors such as B Capital Group, Coinbase, Polychain, and Cadenza increase their investments in CoinDCX. Read more

Refinery margins, inventory gains to offset losses on petrol, diesel: Fitch

State-owned fuel retailers IOC, BPCL and HPCL may suffer marketing losses in January-March 2022 quarter for holding petrol and diesel prices despite a rise in cost but robust core refining margins and windfall inventory gains should mitigate the potential losses in near term, Fitch Ratings said Tuesday.

The three fuel retailers kept petrol and diesel prices unchanged for a record 137-days between November 2021 and March 2022 despite a nearly USD 27 per barrel rise in crude oil prices. Read more

SBI hikes lending rate by 0.1% across all tenures; EMIs to go up

The country's largest lender State Bank of India (SBI) has raised its marginal cost of funds based lending rate (MCLR) by 10 basis points (bps) or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers.

The lending rate revision by SBI is likely to be followed by other banks in the days to come. Read more

Ukraine operation is in new stage, says Russian Foreign Minister

The Russian foreign minister says that Moscow's campaign in Ukraine is entering a new stage.

Sergei Lavrov said in an interview with Indian television broadcast Tuesday that the operation is continuing, and another phase of this operation is starting now. Read more