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Oil markets quickly recovered after Israel's strike on Iran, with Brent crude falling below $70 a barrel. Tehran's muted response, including a symbolic missile attack, eased fears of supply disruptions. The global oil system proved resilient due to increased US production, OPEC+ output, and strategic reserves, suggesting a larger crisis is unlikely despite existing geopolitical tensions.
A recent Supreme Court ruling in India has shaken the real estate market, clarifying that registration of a sale deed does not guarantee ownership. Buyers now need comprehensive documentation, including mutation certificates and tax receipts, to establish their legal title.
In an unprecedented move, the government has demoted Pankaj Dwivedi from Executive Director at Union Bank of India to General Manager. This action follows a Delhi High Court case questioning his appointment due to the absence of necessary vigilance clearance.
The Union Cabinet has approved the extension of Pune Metro Line 2. The project will cost approximately Rs 3,626 crore. Currently, 33.3 kilometres of the Pune Metro network is operational. Another 33 kilometres is under construction. The approved extension will add 12.75 kilometres and 13 stations. This extension will connect central Pune to the eastern and western suburbs.
The Cabinet Committee has approved a revised Jharia Master Plan with a Rs 5,940.47 crore outlay to address coal fires, land subsidence, and rehabilitate affected families in Jharkhand. The plan prioritizes sustainable livelihoods through skill development, grants, and infrastructure development at resettlement sites. A dedicated fund and partnerships with skill development institutes will further boost income-generating opportunities.
IndiaMart Intermesh shares surged after Nuvama Institutional Equities upgraded the stock to ‘Buy,’ anticipating a demand upcycle. The brokerage expects improved traffic, increased subscriber additions, and accelerated collection growth, leading to revised earnings estimates. Nuvama also noted structural reforms and a shift in platform dynamics, contributing to the optimistic outlook and a raised target price of Rs 3,800.
Following an Israel-Iran ceasefire, President Trump suggested China could continue purchasing Iranian oil, though the White House clarified this wasn't an easing of US sanctions. Despite Trump's call for China to buy more US oil, analysts doubt this will significantly alter China's import patterns, given existing trade dynamics and Beijing's energy security priorities.
2025/06/29 12:54:13
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