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The rupee gained 84 paise on Friday, its biggest jump in over two months. The RBI and Centre unveiled measures to draw foreign inflows. The rupee raced past 95 to a dollar, closing at 94.95. "The FCNR-B swap window and FAR expansion are likely to deliver the largest and fastest inflows," said Kunal Sodhani.
Nestle India sees rural areas as a big growth chance, aiming for "penetration-led volume growth." Chairman Manish Tiwary said rural India is "one of the most significant growth opportunities." The company is expanding its reach, using flexibility to meet local needs. Nestle India got double-digit growth in FY26, adding new production lines.
Telecom firms now face civil liability for financial losses in SIM swap frauds due to their negligence. The Karnataka High Court said TSPs are "custodians" like "vault keepers." A bank lost ₹50.5 lakh after a duplicate SIM was issued without consent. The court enhanced compensation to ₹55 lakh, noting TSPs have a duty of care.
On June 5, block deals worth ₹5,718 crore happened in Adani Enterprises and Adani Energy. GQG Partners sold stakes, while SBI Mutual Fund bought them. Adani Enterprises shares ended up 2.52% at ₹3,047.85. The company said it plans to raise up to ₹15,000 crore.
Bitcoin fell 15% and Ethereum dropped to its lowest since April 2025. Extreme fear, reduced trading, and liquidations drove the crypto market crash. Investors are shifting to AI IPOs, and strong US jobs data dampened rate-cut hopes. Many hoped for momentum, but this week brought sharp losses.
India's economy grew 7.7% in FY26, beating estimates on strong manufacturing and services. Prime Minister Modi said, "India's growth momentum remains strong," crediting reforms and hard work. While Q4 growth slightly slowed to 7.8%, many sectors showed double-digit gains. Experts predict slower growth in FY27 due to global challenges.
Government exempted FIIs from taxes on interest and capital gains from Indian government securities starting April 1, 2026. This move aims to attract global investors and stabilize the rupee. Many foreign investors had pulled out funds, pressuring the currency. The exemption should "ease pressure on the rupee over the medium to longer term."
Truhome Finance, earlier Shriram Housing Finance, got SEBI nod for its Rs 3,000 crore IPO. The company plans to raise funds for future growth and regulatory needs. Truhome Finance said, "proceeds are proposed to be utilized towards augmenting the capital base". This retail housing finance firm was acquired by Warburg Pincus in December 2024.
Chennai's commercial space market is hot, with businesses eyeing seven key corridors for growth. New metro lines and proposed high-speed rail corridors are transforming the city. Many businesses use platforms to see "available premises, pricing trends, and new hotspots." This planned development is making Chennai a modern urban economy.
SEBI approved Truhome Finance's ₹3,000 crore IPO on Friday, June 5. Warburg Pincus will pare its stake. The housing finance company plans to raise funds through a fresh issue and an offer for sale. This move marks Truhome Finance's entry into the stock market.
RBI kept the repo rate at 5.25% on Friday, maintaining a neutral stance. Experts suggest mutual fund investors focus on capital preservation and short-term strategies. While some expect rupee stabilization, others foresee potential rate hikes if inflation persists, impacting bond yields. The RBI acknowledged "prolonged global geopolitical tensions" heighten risks.
Mallcom India Limited today shared key developments, including its Sanand, Gujarat facility becoming its 17th manufacturing unit. The company invested over INR 100 crore, employing above 200 workers. Executive Director Mr. Giriraj Mall said, "Our Sanand facility represents a significant milestone in our expansion journey." The unit focuses on innovation and sustainability.