The Nifty IT index slumped over 6% to a 52‑week low after Accenture cut its FY26 revenue growth outlook, sparking a sector‑wide sell‑off. Infosys fell 8.6%, TCS 6.5% and Wipro 4.3%, warning that global IT spending weakness could bite Indian exporters.
India's drug regulator CDSCO has barred the Ethics Committee of HealthCare Global Enterprises for two years, halting all new clinical trials at its Bengaluru cancer institute. The ban follows uncovered deaths and undisclosed adverse events between 2021‑2025, and the hospital must compensate victims' families. This sidelines a KKR‑backed hospital chain from a key growth engine.
Ahead of its AGM, Ambani asked senior leaders to draft a ‘RIL manifesto’ that embeds AI in every workflow, from budgeting to hiring. The plan aims to make Reliance the first large‑scale AI‑native conglomerate, turning AI performance into a core metric and reshaping the Indian corporate landscape.
Turtlemint Fintech Solutions opens an IPO to raise ₹882.67 crore, reporting FY25 revenue of ₹662.7 crore, a 742% jump from the prior year. The surge lacks a clear public explanation, prompting analysts to flag the filing for deeper scrutiny.
Anthropic halted access to its flagship Fable 5 and Mythos 5 models in India after a U.S. export‑control order. The move ignited a heated debate among Indian tech leaders and policymakers about reliance on foreign AI and the push for a home‑grown, sovereign AI ecosystem.
The Finance Ministry has approved an 8.25% EPF interest rate for FY 2025‑26, securing returns for over 7.8 crore subscribers. EPFO 2.0, slated for June, will let members pull up to 75% of their corpus via UPI and ATM channels, streamlining access for millions.
Union Coal Minister G Kishan Reddy has formally asked Telangana CM Revanth Reddy to launch an inquiry into the disappearance of nearly 40 lakh tonnes of coal from Singareni Collieries, the region’s main supplier. The alleged loss raises red flags about inventory controls and potential fraud in South India’s coal sector.
In a brief on the sidelines of the G7 summit, Donald Trump announced that the United States and India are 'very close' to sealing a trade agreement that has been under negotiation for more than a year. Modi also pressed the issue of safety for Indian seafarers in the Gulf, linking the deal to open Strait of Hormuz shipping.
Emirates NBD closed its preferred‑share allotment, paying Rs 28,000 per share for 929.1 million shares, valuing the deal at about Rs 26,016 crore. The transaction gives the Dubai‑based lender a 60% holding in RBL Bank and more than doubles the Indian bank’s total share count, shifting control to five new Emirati directors.
Brent fell to $79.15 a barrel after the US and Iran signed a 14‑point MoU that ends hostilities and promises to reopen the Strait of Hormuz. The deal cuts a major supply risk, nudging global oil prices down and easing pressure on oil‑importing economies like India.
You’re caught up.
That was all 10 stories in the 19 June issue.