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Israeli stocks fall, shekel weakens as Netanyahu bloc beats election forecasts
Israel's election results indicate Prime Minister Netanyahu's right-wing bloc is projected to win 54 seats. While the opposition bloc led by Gadi Eisenkot is expected to secure 47 seats, neither group achieved a parliamentary majority. The shekel weakened significantly, and the Tel Aviv stock index fell following the surprising election results. Analysts predict a challenging path ahead for forming a stable government in Israel.
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Hyundai Motor India's Q2 profit falls 24% as commodity costs blunt taxcut boost to demand
Hyundai Motor India reported a profit drop of 24% in the second quarter due to increased raw material costs. Rising commodity prices for materials like copper and steel squeezed profitability despite strong vehicle demand. The company's profit after tax for the quarter was Rs 1,196 crore, down from Rs 1,572 crore the previous year. Total revenue increased significantly to Rs 20,696 crore, marking a record quarter.
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