SpaceX shares experienced a significant drop of over 6 percent on Thursday. This decline follows a period of strong post-IPO performance. Investors are now reassessing the company’s valuation. The broader space sector also saw a dip in stock prices. SpaceX continues its focus on artificial intelligence initiatives.
Oil prices experienced volatility following US Vice President JD Vance’s comments, raising concerns about the Iran-US ceasefire’s stability. Brent and WTI crude saw declines as Vance warned Israel against further attacks on Hezbollah, casting doubt on the accord’s durability. The market now watches the Strait of Hormuz, a key oil transit route, for signs of
Emirates NBD’s significant acquisition of a 60% stake in RBL Bank for Rs 26,015 crore signifies a strategic shift in India-UAE economic ties, moving beyond trade to capital and control. This move positions India as a core growth market for the Dubai-based lender, reflecting historical financial linkages and a desire to deepen the relationship with
Net direct tax collections surged 14.64% to over Rs 5.21 lakh crore by June 17, fueled by strong corporate advance tax payments and increased securities transaction tax. This robust growth signals continued corporate profitability and market activity, keeping the government on track for its ambitious direct tax targets.
Accenture’s shares plunged over 14% after the IT giant cited the Iran war’s impact, slashing its annual growth forecast and projecting lower-than-expected quarterly revenue. The conflict cost the company $400 million in its Middle East business. To counter a slowdown, Accenture announced $4.18 billion in cybersecurity acquisitions, signaling a strong push into this growth area.
Prime Minister Narendra Modi will release the 23rd instalment of the PM-Kisan scheme on June 20 in West Bengal, transferring Rs 18,880 crore to over 9.44 crore farmers. He will also launch crop insurance schemes, an Agri-Tech platform, and the National Natural Farming Mission, alongside inaugurating rural road projects.
