Stock Market Live Update: Patel Engineering Gets Order Worth Rs 1,319 Crore 

Patel Engineering has secured an order worth Rs 1,319 crore for the construction of the Kondhane Dam. This project has been awarded by the City and Industrial Development Corporation. The development of this dam is expected to enhance water supply and support infrastructure growth in the region.

Sumitomo Mitsui Banking Group In Talks For At Least 24% Stake In Yes Bank

  • Sumitomo Mitsui Banking Group in talks for at least 24% stake in Yes Bank

  • Deal likely with State Bank of India

  • Move seen as SMBC’s full-fledged entry into India

  • SMBC also owns SMFG Credit, an NBFC in India

Sources: People In The Know To NDTV Profit

Stock Market Today: Citi On CAMS 

  • Maintain Sell and hike target price to Rs 3,055 from Rs 2,985

  • Core PBT -10% QoQ; pace of non-MF revenue growth slows further

  • Enthused by new client wins in non-MF and focus on horizontal integration

  • Lack of pricing stability in most non-MF segments

  • See pressure on near-term volume accretion and focus on business development is likely to put pressure on profitability

Oil Prices Rebound From Sharp Drop 

Crude oil prices recovered from its biggest drop. The prices plummeted after Organization of Petroleum Exporting Countries and its Allies extended a supply increase in June.

The brent crude was trading 1.36% higher at $61.05 a barrel as of 7:55 a.m.

Asia Market Update: Most Markets Rise As Investors Assess Trade Talks With US

Most markets in Asia-Pacific region advanced in Tuesday’s session as traders assessed the ongoing trade talks between US and several Asian nations. Market participants also await the outcome of the US Federal Reserve policy meeting.

The CSI 300 and Hang Seng were trading 0.41% and 0.63% higher, respectively. The S&P ASX 200 was trading 0.19% down.

US Market Update: S&P 500, Dow Jones Industrial Average Snap Winning Streaks

US benchmark index S&P 500 snapped its longest winning streak in two decades, and Dow Jones Industrial reversed gaining streak in Monday’s session. Market participants shift their attention to the US Federal Reserve meet which will start from later today.

On Monday, Dow Jones Industrial Average and S&P 500 ended 0.24% and 0.64% down, respectively. The Nasdaq Composite index ended 0.74% down.

GIFT Nifty Implies Muted Start; Coforge, Paytm, Gensol Engineering Share Prices In Focus

The GIFT Nifty was trading flat at 24,593.50 as of 6:51 a.m., which implied a muted start for the benchmark Nifty 50 index.

Traders will monitor Coforge Ltd., Indian Hotels Ltd., and Pratap Snacks Ltd. share prices in Tuesday’s session as they released their fourth quarter earnings post market hours. Gensol Engineering released a clarification on Delhi High Court order related to reports stating that the company and BlueSmart are barred from transferring vehicles leased by Orix to any third party. One 97 Communication will release its fourth quarter earning later today.

India’s benchmark equity indices ended higher for the second session in a row on Monday. The NSE Nifty 50 closed 114.45 points or 0.47% higher at 24,461.15, while the BSE Sensex ended 294.85 points or 0.37% up at 80,796.84.

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