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Stock market recommendations: Mirae Asset Sharekhan's Somil Mehta recommends buying Apollo Hospitals and Persistent. Apollo Hospitals, currently trading around Rs 7,100, is expected to reach Rs 7,545, while Persistent, near Rs 6,010, aims for Rs 6,300.
Escalating tensions between Israel and Iran are causing volatility in crude oil prices, impacting various sectors from FMCG to paints. Companies face challenges in protecting margins amid rising input costs, potentially affecting consumer spending on discretionary items.
Indian stock market soared on Monday. Sensex closed 678 points higher. Nifty also saw a significant rise. HDFC Bank, ICICI Bank, and Infosys led the gains. Domestic funds invested heavily, offsetting foreign fund outflows. Investors grew richer by Rs 3.3 lakh crore. A potential ceasefire between Israel and Iran may further boost the market. Gold prices fell on ceasefire news.
India aims for a "preferential and sustained advantage" in its trade deal with the US, seeking tariff reductions to boost market access and double trade to $500 billion. Negotiations are progressing towards an early tranche before July 9, with India focusing on lower duties for its labor-intensive products. Both countries are targeting a comprehensive bilateral trade pact by Fall.
Meesho has received approval from the NCLT to move its domicile from the US back to India, a process involving the demerger of its Indian operations from its US parent. This reverse flipping allows Meesho to align its corporate structure with its primarily India-based business.
Tata Sons chairman N Chandrasekaran and Boeing's Stephanie Pope met at Air India headquarters following the deadly crash of Air India Flight 171 in Ahmedabad, involving a Boeing 787-8 Dreamliner. Chandrasekaran addressed employees, urging resilience and emphasizing the need to build a safer airline after the tragic incident that claimed over 270 lives. Boeing is supporting the investigation.
2025/07/10 11:42:49
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