Business

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.

US stocks rebounded on Thursday, recovering previous losses as falling oil prices and easing Treasury yields boosted investor sentiment following a US-Iran agreement to end hostilities. Technology stocks led the gains, with Intel surging after a manufacturing deal. European markets traded lower, while Asian markets, particularly Japan and South Korea, reached record highs.

Funds linked to Indian clients in Swiss banks saw an 8% decline in 2025, totaling 3.25 billion Swiss francs. Despite an overall drop, direct customer account deposits surged over 50%. This follows a significant rebound in 2024, with the SNB clarifying data doesn’t represent black money.

Wipro is increasing its ownership in Aggne Global IT Services to 80% by acquiring an additional 20% stake for USD 2.1 million. This move aims to bolster Wipro’s position in the insurance technology sector, particularly in driving AI and IP-led transformations for the Property & Casualty Insurance market. The transaction is expected to conclude by