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BusinessPhoto: Economic TimesMutual funds have stopped accepting fresh inflows into gold fund of funds as part of recent measures to support the Indian rupee. The rupee, one of Asia's worst performers against the dollar this year, ended higher at ₹95.15 on Thursday, coinciding with a nearly 2% rise in benchmark stock indices. These steps aim to stabilize the currency's value.
Economic Times·
Tech Mahindra declared a 1:1 bonus share issue and a ₹15 dividend per share after reporting a 33% profit increase to ₹1,586 crore in Q2. This is the first bonus share announcement in 11 years. The company maintained its margin targets following better-than-expected quarterly revenue. The stock rose 5-7% after the earnings report, with HSBC and CLSA setting target prices.
Hindustan·
Ongoing Russian attacks in Ukraine have destroyed critical health supplies, severely impacting medical aid and healthcare services. The destruction of these essential resources poses a significant challenge to Ukraine's ability to provide necessary medical care amid the conflict, according to UN reports.
UN News·
Apple has introduced the HomeView dashboard, consolidating its smart-home capabilities into a single interface. The new HomeView features a 7-inch display and integrates Siri AI, enhancing user control over smart home accessories. This launch is part of Apple's broader Home Collection lineup, aiming to compete with Google and Amazon in the smart home market.
Dezeen·
India's rupee is forecasted to weaken toward the 100-per-dollar level despite the Reserve Bank of India's efforts to support the currency. The RBI has widened its defence to rates cautiously, while the rupee recently rose 20 paise to 94.79 against the U.S. dollar in early trade. The RBI also clarified the scope and calculation of the Foreign Exchange Risk Reserve amid market disruptions.
CNBC·
India continues to hold the leading position in the global flexible office market, according to Cushman & Wakefield. The country's flexible office sector remains robust, reflecting strong demand and growth in flexible workspace solutions. This leadership highlights India's expanding role in the evolving global office real estate landscape.
Cushman & Wakefield·
Economic Times·
Photo: Economic TimesMutual funds have stopped accepting fresh inflows into gold fund of funds as part of recent measures to support the Indian rupee. The rupee, one of Asia's worst performers against the dollar this year, ended higher at ₹95.15 on Thursday, coinciding with a nearly 2% rise in benchmark stock indices. These steps aim to stabilize the currency's value.
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