Groww Digest: Daily

Equity mutual fund inflows fell 13.87% in Oct, Tata Power’s profit up 48.58%, & more

Wed, 11 Nov 2026 15:15:36 GMT

Markets closed higher than yesterday’s closing point.

PSU Bank stocks and auto stocks rose the most today. Realty stocks and healthcare stocks fell the most.

Global markets: US markets fell on Tuesday. Most European and Asian markets rose on Wednesday (as of 6 pm IST).

News

Equity mutual fund inflows fell 13.87% to Rs 32,993.63 crore in October compared to Rs 38,306.55 crore in September. Debt funds saw a net inflow of Rs 1.13 lakh crore compared to a net outflow of Rs 1.83 lakh crore.
India’s unemployment rate stood at 5.1% for the July-Sept quarter compared to 5.4% in the previous quarter. Rural unemployment rate fell to 4.3% from 4.8%, and urban unemployment rate stood at 6.8% vs 6.7%.
The government prohibits the export of lithium-ion battery black mass with immediate effect to strengthen domestic recycling and critical mineral recovery.

Stock Updates

BHEL: won an order worth Rs 600 crore to Rs 900 crore from Power Grid Corporation of India to supply two synchronous condensers at Kalyanpur, Gujarat.
Tata Power: net profit rose 48.58% year-on-year to Rs 1,366.11 crore in the July-Sept quarter. It also approved investing Rs 11,871 crore in an 1,800 MW pumped storage hydro project at Shirwata, Maharashtra.
HCLTech: partnered with US-based PTC Inc to launch a ready-to-use product lifecycle management (PLM) solution for semiconductor companies.

Word of the Day

Bullion

Bullion refers to precious metal commodities valued by their weight and purity

Gold and silver are commonly priced based on their bullion prices.

When talking of bullion, we are referring to the price of the metal purely by its weight and purity and no other additional value like jewellery making cost, sentimental or collectible value, etc.

Bullion is mostly held in coin, biscuit, bar, and ingot form.

Some coins have additional value because of being collectibles. They are not categorised bullion coins.

6 Day Course

Theme: stocks order matching
Day 3: Wednesday

Limit orders are placed with the exchange. It has a list of limit orders that are trying to sell (they are called ask) and another list of limit orders that are trying to buy (they are called bids).

The exchange matches orders based on price match (it tries to give limit order a match that is at the price they want or better). If there is a tie in price, then orders are matched using time (first come, first serve basis).

Say the lowest limit sell order for a stock is Rs 200 for 500 shares.

The second lowest limit sell order is for Rs 201 for 300 shares.

And now, a market buy order comes to the market for 800 shares. Market orders do not have price criteria. So the orders start getting matched with the best available matches.

So, first, this buy order is matched with the Rs 200 limit order. Here, 500 shares get traded.

Now, the remaining buy order of 300 shares is matched with the Rs 201 limit sell order.

The buyer was able to buy 500 shares at Rs 200 and 300 shares for Rs 201.

————

Markets holiday, Bajaj Finance's Rs 5,800 cr warrants, & more - Groww Digest

Tue, 10 Nov 2026 18:09:04 GMT

The Indian stock markets were closed today on account of Diwali-Balipratipada.

Hence, there won’t be any updates on the Nifty 50, Sensex, Top Gainers, and Top Losers sections today.

Global markets: US markets rose on Monday. Most European and Asian markets rose (as of 6 pm IST).

News

India’s oilmeal exports that are used for animal feed and organic fertilisers fell 28.51% year-on-year to 12.82 lakh tonnes in the April-August FY27 period, as per the industry body, the Solvent Extractors’ Association of India (SEA).
The government has extended the deadline for its Rs 84,084 crore deepwater exploration blocks for OALP rounds X and XI to 10 Dec. This marks the 7th time of extension for OALP-X and the 3rd for OALP-XI.

Stock Updates

Bajaj Finance: allotted warrants worth about Rs 5,800 crore to parent Bajaj Finserv at Rs 1,010 each. The warrants can be converted into shares within 18 months.
Cholamandalam Finance: sought shareholder approval to raise up to Rs 5,000 crore through a QIP.

Word of the Day

Portfolio Overlap

It is the similarity of two different mutual funds’ investments

Mutual fund investors often invest in different mutual funds for diversification.

But it is possible for two mutual funds to have similar holdings (same stocks or bonds).

In such a case, the diversification benefit is lower.

This phenomenon is called portfolio overlap.

Just holding the same assets is not portfolio overlap. The quantity of overlap matters too.

Example: if mutual fund A has 30% of its AUM invested in a stock and mutual fund B has 33% of its AUM, we can say they both have a significant portfolio overlap.

6 Day Course

Theme: stocks order matching
Day 2: Tuesday

Continuing from yesterday:

The changing price while an order is being executed is why we speak about average buying or selling price.

But what happens when the stock price changes too much while buying or selling?

This could potentially be an unfavourable situation for an investor.

So a limit order helps in such a case.

In limit orders, an investor determines the price at which (or better) they want to buy/sell.

Example: a limit buy order would look like: buy 20,000 shares of XYZ company if the price is Rs 533 or below.

So the buying would take place only when the stock price falls to or below Rs 533.

Likewise, for a sell limit order, the selling would happen at or above the trigger price.

Tomorrow, we’ll see how these different orders are matched by the exchange.

————

What If

In last week’s What If, we studied whether companies with faster profit growth saw better stock returns.

We found that the connection wasn’t very strong, especially over shorter periods.

But that study left out cases where a company had made a loss a year earlier, because profit growth can’t be calculated from a loss.

There are also cases where companies move from a loss to a profit or from a profit to a loss, while some continue making losses.

That got us wondering what happens to their stock prices in these cases. Is there a consistent pattern?

So, to complete the picture, this week we studied 160 such cases and compared their stock returns with the Nifty 50 before and after the results and over the following months and year.

We wanted to see whether these changes in profits and losses could tell us anything about how a stock might perform.

Read the latest What If here

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

MakeMyTrip India gets SEBI approval for IPO, L&T's Noida metro order, & more

Mon, 09 Nov 2026 14:40:28 GMT

Markets closed higher compared to yesterday’s closing point.

PSU bank stocks and pharma stocks rose the most today. Cement stocks and IT stocks fell the most.

Global markets: US markets ended mixed on Friday. Asian markets also showed a mixed trend on Monday. European markets opened in green (as of 6 pm IST)..

News

Hindustan Coca-Cola Holdings, which is the largest Coca-Cola bottler in India filed a DRHP with SEBI for an IPO. The IPO will consist of an offer for sale of 99.75 crore shares only.
MakeMyTrip’s India subsidiary received SEBI approval for its IPO. The company had confidentially filed a DRHP.

Stock Updates

L&T: won a “significant” order (worth Rs 1,000 crore to 2,500 crore) from Noida Metro Rail Corporation to design and build a 15.1 km elevated metro line and 10 stations.
Titan: repaid Rs 850 crore worth of commercial paper on 9 Nov.
Avenue Supermarts (DMart): repaid Rs 300 crore worth of commercial paper on 9 Nov.
BHEL: Telangana’s tax department dropped a proposed GST demand of Rs 207.26 crore for FY23, along with interest and penalties.

Word of the Day

Stop Loss

It is a tool used by traders and investors to start selling their stocks/securities if it falls to a certain level.

Stop loss orders can be of many types.

Stop loss market orders simply sell stocks if the price falls and reaches a certain price.

Example: sell stocks if price falls below Rs 331.

Stop loss limit orders simply start selling stocks if the stock hits a certain price but only if it is above a certain level too.

Example: sell stocks if price falls below Rs 331 but only if price is above Rs 323.

Trailing stop loss keeps moving the stop loss trigger as the price climbs up.

Example: sell stocks if price falls more than 10% of the highest price reached by the stock.

6 Day Course

Theme: stocks order matching
Day 1: Monday

A stock exchange’s (like BSE or NSE) main job is to match buyers and sellers.

This happens at lightning speed and are done by computers.

What logic do they use to match orders? But how does it all work?

In this week’s course, we’ll explore this topic.

First, let’s understand that there are two main kinds of orders:

Market order: buy or sell stocks at whatever the best price is available.

Limit order: buy or sell at a certain trigger price or better.

This is important because the stock price is always changing.

So if a person places a market order for buying one company’s shares, the price at which the buying happens can be different for each share he bought.

————

Featured Question

Q. “In the digest dated 03-Nov, you have mentioned that in case of oversubscription, for individual retail investors, allotment is done randomly using a lottery system. Does this mean it's always all or none? I remember getting partial allotment?!”

Yes, there are some cases.

If the IPO is undersubscribed, then applicants get whatever they bid for. The lottery system is not needed.

If the oversubscription is neither high nor undersubscribed, applicants get more than 1 lot but not all the lots they applied for. Then it is done proportionally.

If the oversubscription is high, then applicants either get no lots or 1 lot. This is based on the lottery system.

Whenever we hear about greatly hyped IPOs with very high oversubscription levels, we can be sure the lottery system was used.

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

Muhurat trading session, Divi’s Labs profits up 64%, & more

Sun, 08 Nov 2026 14:13:43 GMT

The Indian stock market held a special Muhurat trading session today. Due to this, stock markets were open from 02:20 pm to 03:30 pm.

Markets closed lower compared to Friday’s closing point.

Pharma stocks and media stocks rose the most today. Realty stocks and consumer durable stocks fell the most.

Global markets were shut on the weekend.

News

Confederation of All India Traders (CAIT) said Diwali shopping generated business worth over Rs 6 lakh crore across India and the total festive trade is likely to cross Rs 7 lakh crore, as per media reports.
Mahanadi Coalfields, IFL Finance, and Sagar Defence Engineering Ltd along with 2 other companies received SEBI approval for IPO.

Stock Updates

Divi’s Lab: net profit rose 63.57% year-on-year to Rs 1,127 crore in the July-Sept quarter.
Bharat Electronics: received new orders worth Rs 909 crore since 21 Oct for night vision devices, communication equipment, upgrades and other services.
Tata Steel: net profit rose 18.20% year-on-year to Rs 3,666.41 crore in the July-Sept quarter, including a Rs 348.68 crore one-time gain. Noel Tata will retire as Vice-Chairman and Director on 11 Nov.
Wipro: appointed former Birlasoft CEO Angan Guha as President and CEO of its Americas 2 business, effective 8 Dec.
BHEL: received an order (worth Rs 600 crore - 900 crore) from Power Grid for two synchronous condensers at its Barmer-II power station.
Meesho: acquired a 92.74% stake in Kirana Club Pte Ltd and its Indian subsidiary Retail Pulse Labs Pvt Ltd for Rs 186.71 crore.
Tata Power: a Singapore court restricted the company’s ability to sell its shares in two Singapore subsidiaries due to an ongoing legal dispute. Tata Power has appealed the decision.
Marico: agreed to acquire a 51% stake in Bonorizon Consumer Ventures Pvt Ltd for up to Rs 35 crore..

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

Forex reserves fall, Hindalco's profit up 59%, & more

Fri, 06 Nov 2026 14:08:59 GMT

Markets closed significantly higher compared to yesterday’s closing point.

Foreign buying and a sell-off in AI stock globally could have led to the rally in Indian stocks.

Private bank stocks and consumer durable stocks rose the most today. Media stocks and REITs & realty stocks fell the most.

Global markets: US markets fell sharply on Thursday. Most Asian markets ended lower on Friday. European markets opened in red (as of 6 pm IST).

News

India’s forex reserves fell $2.69 billion to $717.06 billion for the week ended 30 Oct.
Retail automobile sales fell 23.80% year-on-year to 31.72 lakh units in October compared to a year ago as per Federation of Automobile Dealers (FADA).
The government has approved 12 new applications worth over Rs 7,500 crore in the latest tranche, under the Electronics Components Manufacturing Scheme (ECMS), as per reports..

Stock Updates

Adani Enterprises: joint venture AdaniConneX agreed to acquire Vizag Mega Data Center Park from Adani Infra (India) for Rs 1,085.51 crore in cash.
M&M: approved investing up to Rs 1,450 crore in subsidiary SML Mahindra through a rights issue.
Hindalco: net profit rose 58.87% year-on-year to Rs 7,532 crore in the July-Sept quarter. It also cancelled its proposed acquisition deal with AluChem.
DLF: signed an agreement with Everstone Group to form a joint venture that will invest in IREO’s India businesses. DLF plans to invest around Rs 3,750 crore for a majority stake.
Tech Mahindra: subsidiary PF Holdings agreed to acquire an additional 10.02% stake in Italy’s Pininfarina at 1.20 euros per share as part of its delisting plan.
Britannia: net profit rose 10.16% year-on-year to Rs 720.97 crore in the July-Sept quarter.
GAIL: subsidiary GAIL Mangalore Petrochemicals started operations at its 1.25 MTPA plant in Mangaluru to produce a raw material used in polyester manufacturing.
Marico: increased its stake in wellness company Cosmix Wellness from 60% to 80% for Rs 113.65 crore..

Word of the Day

Cash Equivalent

It is an investment that can be considered to be as safe and liquid as keeping cash in the bank.

Many companies and investors try to not keep vast sums of money in the bank account.

Instead, they try to make a small return on it, which is better than keeping money in the bank.

But since they cannot take risks with this money, they invest in extremely safe investments. Withdrawing money from these investments is also very easily possible.

Such investments are called cash-equivalent investments.

Example: overnight funds, bonds maturing in 90 days or less, government bonds, etc.

6 Day Course

Theme: GMP in IPOs
Day 4: Thursday

Another point to note about GMP is that it is mostly driven up or down by a smaller number of traders.

Since these are a small number of traders, the GMP price volatility can be very high. Even a small number of people changing their minds can cause drastic changes in their buy/selling.

But these small groups’ thinking can be much different from a larger group of investors, especially institutional investors.

This is yet another reason why GMP fails to be a great predictor of how the stock will behave upon listing.

The short version of this is that GMP alone is never enough to tell us much.

It can indicate a few things — demand among traders, sentiments among a certain segment of the markets, etc.

But it is never a standalone reliable metric for IPO listing gains.

————

Markets rise due to US election results, ONGC’s Rs 8 dividend, & more

Thu, 05 Nov 2026 15:03:57 GMT

Markets closed significantly higher compared to yesterday’s closing point.

The US midterm elections resulted in the victory of the Democratic Party, which is currently the opposition party in the US. This resulted in positive sentiments across the global markets. Which may have led to a rise in the markets today.

Auto stocks and realty stocks rose the most today. Media stocks and chemical stocks fell the most.

Global markets: US markets rose on Wednesday. Most Asian markets ended higher on Thursday. European markets opened in green (as of 6 pm IST).

News

The government shared tax devolution worth Rs 1.09 lakh crore with state governments to increase capital spending and welfare expenditure.
SEBI permitted mutual funds to settle cash market trades on a net basis to reduce funding requirements.
SEBI also revised the threshold limit for taking positions in currency derivatives involving the Rupee, without establishing underlying exposure..

Stock Updates

LIC: net profit rose 19.97% year-on-year to Rs 12,114.78 crore in the July-Sept quarter.
Adani Ports: agreed to acquire Netherlands-based liquid storage company Evos at an enterprise value of 2,558 million euros.
Titan: net profit rose 113.66% year-on-year to Rs 2,393 crore in the July-Sept quarter, including a one-time gain of Rs 671 crore. Noel Tata will retire as Vice-Chairman on 12 Nov.
Adani Power: signed a 25-year agreement to supply 1,234 MW of thermal power to Uttarakhand Power Corporation Ltd (UPCL).
M&M: net profit rose 24.90% year-on-year to Rs 4,587.88 crore in the July-Sept quarter.
ONGC: net profit rose 55.25% year-on-year to Rs 16,743.54 crore in the July-Sept quarter. Dividend declared: Rs 8 per share. Record date: 12 Nov.
BSE: net profit rose 44.90% year-on-year to Rs 809.15 crore in the July-Sept quarter.
CG Power: Maharashtra Pollution Control Board ordered the company to stop manufacturing at its Waluj plant over alleged pollution law violations.
Cummins India: net profit fell 18.50% year-on-year to Rs 507.17 crore in the July-Sept quarter.
LG Electronics India: net profit rose 25.66% year-on-year to Rs 489.35 crore in the July-Sept quarter. It also approved plans to enter the automotive electronics business.
Apollo Hospitals: net profit rose 32% year-on-year to Rs 629.90 crore in the July-Sept quarter.
Tata Power: subsidiary Tata Power Renewable Energy commissioned a 300 MW solar project in Karnataka for SECI.
Dr Reddy’s: received approval from Brazil’s drug regulator to sell generic semaglutide injections for type 2 diabetes.
Aurobindo Pharma: net profit rose 32.72% year-on-year to Rs 1,126.08 crore in the July-Sept quarter. Dividend declared: Rs 7 per share. Record date: 11 Nov.
Bharat Forge: net profit fell 7.80% year-on-year to Rs 275.87 crore in the July-Sept quarter.
Ashok Leyland: NCLT approved the merger of subsidiary Hinduja Leyland Finance into NDL Ventures. NDL will issue 25 shares for every 10 Hinduja Leyland Finance shares.

Word of the Day

Punting

It is when an investor/trader takes a bet based on luck, price action, hype, and gut feel.

In such a case, the investor knows that the element of luck is greater in such a deal and that the risk is extremely high.

These are usually very short to short term trades.

It can be considered almost a lottery-like investment. It is not necessary for most investors to be involved in punting.

If at all an investor does try, it must be a very small portion of the total investment amount.

6 Day Course

Theme: GMP in IPOs
Day 4: Thursday

In case of IPOs where the subscription is very strong, the GMP does shoot up many times.

This is the signal many investors are looking for.

While it is possible that the GMP shoots up because of buying demand from investors wanting listing gains, it is also possible that the grey market price shoots up because of genuine long-term investors.

In such a case, genuine long-term investors who believe the IPO is very underpriced will try to buy the stock even at higher prices than the issue price.

This can cause the GMP to go up noticeably. Such a stock with strong buying demand might go up after the stock lists too.

If we combine what we wrote yesterday and today, the conclusion comes to this: the GMP can shoot up because of demand from either list gain investors or long-term investors.

In one case, the share price might fall upon listing. In the other case, the share price might climb after listing.

More often than not, it is actually a mix of both of these two.

————

Featured Question

Q. “what is this lottery system in ipo when over subscribed and how exactly this lottery systems algorithm works? can someone at registrar or ipo allotment make changes to allot ipo to specific group as oppose to random allotment despite of RBI regulations? Who watches these algorithms making random allotments are whether fair or rigged?”

In this random allotment of shares, every PAN holder is treated as one.

So, even if an investor invests using 2 different demat accounts on different platforms, his application is treated as a single application.

Similarly, the number of bid lots is not counted.

Then, the registrar takes this list of applicants.

The registrar’s software then randomly allocates the shares in case of oversubscription.

SEBI mandates a fair and completely random allotment process for individual retail investors. The software algorithm is not made publicly available.

An exchange executive oversees this finalisation of the allotment.

The system falls under SEBI and its jurisdiction. They can audit and punish if irregularities are found.

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

Govt approves Rs 17,314 cr for energy, BHEL wins major orders from Adani Power, & more - Groww Digest

Wed, 04 Nov 2026 14:38:15 GMT

Markets closed higher compared to yesterday’s closing point.

All sectors’ stocks rose today except for the IT stocks. Media stocks and realty stocks rose the most.

Global markets: US markets ended mixed on Tuesday. European markets and most Asian markets rose (as of 6 pm IST).

News

The government approved two schemes: Rs 14,500 crore to develop 92 GWh of electricity storage capacity by FY31, and Rs 2,814 crore to support four lithium and nickel processing plants.
RBI received bids worth Rs 73,907 crore for its Rs 50,000 crore reverse repo auction, up from Rs 23,905 crore a day earlier. The auction helps RBI temporarily absorb excess money from banks.

Stock Updates

Bajaj Finance: shareholders approved plans to raise up to Rs 17,500 crore, including Rs 11,700 crore through a QIP and Rs 5,800 crore through warrants issued to parent company Bajaj Finserv.
Kotak Mahindra: received Competition Commission of India (CCI) approval to acquire Deutsche Bank’s retail banking, private banking and wealth management businesses in India, subject to approvals.
Grasim: signed an MoU with Suzlon Energy, along with its subsidiary Aditya Birla Renewables Ltd, to develop wind turbines with recyclable blades on a pilot basis.
BHEL: won four orders from Adani Power to supply boilers, turbines and generators for four projects of 1,600 MW each. Each order is worth Rs 5,000 crore to 7,000 crore.
Lenskart: net profit rose 122.15% year-on-year to Rs 227.08 crore in the July-Sept quarter.
Zydus Lifesciences: net profit fell 26.60% year-on-year to Rs 925.50 crore in the July-Sept quarter. It also completed the acquisition of Sterling Biotech’s API business.
PFC: net profit rose 5.07% year-on-year to Rs 6,034.28 crore in the July-Sept quarter. Dividend declared: Rs 4.10 per share. Record date: 17 Nov.
Lloyds Metals: net profit rose 88.05% year-on-year to Rs 1,045.62 crore in the July-Sept quarter. It approved an Rs 3,240 crore power plant and up to Rs 625 crore investment in subsidiary Thriveni Earthmovers and Infra Pvt Ltd.
Nykaa: net profit rose 192.80% year-on-year to Rs 100.81 crore in the July-Sept quarter. It also approved acquiring an 82% stake in Simply Nam Beauty Pvt Ltd for up to Rs 33 crore.
Persistent Systems: raised Rs 7,000 crore by allotting NCDs at a coupon of 8.95% per year.
Lupin: net profit fell 21.83% year-on-year to Rs 1,155.26 crore in the July-Sept quarter.

Word of the Day

Iceberg Order

These are large orders that are executed in small tranches

These are mostly used by large investors, especially institutional investors.

In this, a large order is split into small orders that get executed one after the other.

This prevents the market from knowing how big the total order size is.

Example: XYZ mutual fund wants to buy 50 lakh shares of a company.

So it places an iceberg order where each order is only 5 lakh shares.

Once 5 lakh shares are bought, the next tranche of 5 lakh orders is placed until the investor has bought all 50 lakh shares.

So the market can only see 5 lakh shares’ worth of orders. They don’t know how many times this order will be placed, so they have no clue of the total size of the order.

6 Day Course

Theme: GMP in IPOs
Day 3: Wednesday

As soon as the price band of an IPO is announced, investors start discussing the GMP.

So, an investor might hear of GMP even while the subscription period is still on.

This is why some investors pay attention to the GMP while the subscription period is open.

The usual belief is that an IPO that is in high demand might end up with a higher GMP.

And therefore, such a stock upon listing will give high listing gains.

This assumption can work in a circular manner too, thus becoming very misleading.

More investors might subscribe to the shares, seeing a high subscription rate. This pushes the GMP up further.

Seeing a higher GMP, even more investors subscribe.

In such cases, the number of listing gain investors can become too high.

On the day of listing, many of these investors will sell, causing the price to crash instead of going up. Or it may go up to a far lesser extent than it would have otherwise.

————

Featured Question

Q. “In an IPO there is a price band. I think it means that investor bid at different prices in the price band . Then why allotment is done randomly in the case of retail investors when there is over subscription.”

In case of oversubscription, the issue price jumps to the max value in the price band.

So, technically speaking, all the shares are being offered at the max possible value in the price band.

There is nothing left to differentiate among the investors. All of them are being allotted shares at the same issue price.

At this point, the shares are allotted randomly or using a lottery system (for individual retail investors).

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

SEBI revises REITs & InvITs framework, ITC’s profits down 19%, & more - Groww Digest

Tue, 03 Nov 2026 14:55:21 GMT

Markets closed higher compared to yesterday’s closing point.

Oil prices fell as low as $104 a barrel on hopes of the US-Iran war coming to an end, which could have led to the rise in the market. However, later in the day, oil prices rose slightly.

FMCG stocks and realty stocks rose the most today. PSU Bank stocks and metal stocks fell the most.

Global markets: US markets ended mixed on Monday. Asian markets traded mixed on Tuesday. European markets opened in red (as of 6 pm IST).

News

SEBI allowed Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to issue Depository Receipts (DRs) backed by their units that permits them to access foreign investors.
IRDAI tightened Employee Stock Option Plan (ESOP) rules and reduced processing fees for share transfer among other measures in its revised framework.
Multi-asset international exchange, NSEIX, extended market operations for 23.5 hours from 03:15 am to 02:45 am to improve global accessibility.
SFC Environmental Technologies listed at Rs 355.10, a premium of 7.61% over its issue price and closed 29.12% higher.

Stock Updates

ITC: net profit fell 18.68% year-on-year to Rs 4,168.40 crore in the July-Sept quarter. It also approved merging its wholly owned subsidiary Sproutlife Foods Pvt Ltd, which owns Yoga Bar, into ITC.
SBI: net profit rose 19.98% year-on-year to Rs 25,361.16 crore in the July-Sept quarter. This included a one-time gain of Rs 6,879.26 crore from selling a stake in SBI Funds Management. Last year’s quarter included a Rs 3,026.57 crore gain from selling a stake in Yes Bank.
NSE: net profit rose 22.83% year-on-year to Rs 2,577.62 crore in the July-Sept quarter. The board also approved selling up to a 40% stake in its subsidiary National Coal Exchange of India Ltd.
HAL: will acquire Canadian company CAE’s 50% stake in HATSOFF Helicopter Training Pvt Ltd, making it a wholly owned subsidiary.
Bajaj Finserv: net profit rose 22.88% year-on-year to Rs 2,757.66 crore in the July-Sept quarter. It also plans to invest up to Rs 5,800 crore in Bajaj Finance through a preferential issue.
Power Grid: received government confirmation for the merger of 28 wholly owned subsidiaries into 2 other subsidiaries, effective 2 Nov.
Solar Industries: net profit rose 78.86% year-on-year to Rs 617.02 crore in the July-Sept quarter.
Bajaj Holdings: net profit rose 27.86% year-on-year to Rs 1,993.37 crore in the July-Sept quarter.
Meesho: invested Rs 400 crore in wholly owned subsidiary Meesho Payments Pvt Ltd to expand its lending-services business.
Vedanta: said the 28.8 acres of land reportedly cancelled by Odisha authorities represents less than 1% of its Jharsuguda aluminium operations’ landholding. It expects no impact on operations.

Word of the Day

AMO

It is an order type that lets investors place buy/sell orders after the stock markets have shut for the day

AMO = After Market Orders

There are two main types of AMOs: Limit AMO and Market AMO.

In limit AMOs, investors place orders and specify the price at which the trade will take place.

So when the markets open, the stockbroker will buy at the specified price or lower price; and will sell at the specified price or higher.

In market AMOs, the stockbroker executes the order based on the number of stocks specified at whatever price available.

Stocks, ETFs, and derivatives can be traded using AMOs — depending on the platform.

6 Day Course

Theme: GMP in IPOs
Day 2: Tuesday

Let’s say in an IPO, the issue price is determined to be Rs 130. Now, until it lists, different investors will be trying to get the shares.

So demand for these shares is very high and investors are willing to pay as much as Rs 20 above the issue price.

So, unofficially, the share price is Rs 130 + 20 = Rs 150.

At this point, many assume that the share will list at Rs 150 or higher since the market in general seems to be willing to pay Rs 150 per share.

This means, the share issue price is Rs 130. And the Rs 20 extra is the premium over it.

So the GMP (Grey Market Premium) = Rs 20 and the grey market price = Rs 150.

Many investors track the GMP closely to get an indication of how the stock might list.

The higher the GMP, the higher the listing price expectation.

————

GST collections rose 23%, NTPC’s profits up 39%, & more - Groww Digest

Mon, 02 Nov 2026 14:56:02 GMT

Markets closed higher compared to Friday’s closing point.

Iran and Qatar held talks over the weekend to end the US-Iran war which led to oil prices falling sharply. This led to markets opening significantly higher.

Oil & gas stocks and metal stocks rose the most today. Media stocks and IT stocks fell the most.

Global markets: US markets fell on Friday. Asian markets ended mixed on Monday. European markets also showed a mixed trend (as of 6 pm IST).

News

India’s gross GST collections rose 22.9% year-on-year to Rs 2.31 lakh crore in October. Collections from imports rose 42.2%, while domestic collections increased 15.8%.
The price of a 19-kg commercial LPG cylinder rose by Rs 10 to Rs 2,820 in Delhi from 1 November. Prices also increased in other major cities.
The government introduced new aviation rules requiring airlines to clearly display cancellation charges and refund conditions when showing ticket prices. The rules will take effect on 1 January 2027.
TRAI tightened consumer grievance redressal rules where telecom operators can be penalised up to Rs 20 lakh per quarter per service area for improper handling of complaints.
SEBI recommended the government to remove long-term capital gains (LTCG) tax on foreign investors, as per media reports.
Coal production from captive and commercial mines rose 42% year-on-year to 22.03 MT from 15.49 MT a year ago.
EAAA India Alternatives listed at Rs 1,675.50, a premium of 0.63% over its issue price and closed 3.78% higher.

Stock Updates

L&T: won a ‘significant’ order (Rs 1,000 crore to Rs 2,500 crore category) to build residential towers in Mumbai and Bengaluru and a commercial tower in Hyderabad.
NTPC: net profit rose 38.74% year-on-year to Rs 7,029.56 crore in the July-Sept quarter. Dividend declared: Rs 3 per share. Record date: 6 Nov.
JSW Steel: the merger of Piombino Steel into the company became effective on 31 October.
Coal India: subsidiary South Eastern Coalfields filed draft papers with SEBI for an IPO. Coal India will sell up to 66.81 crore shares in the issue.
Power Grid: net profit rose 8.41% year-on-year to Rs 3,866.16 crore in the July-Sept quarter. Dividend declared: Rs 3 per share. Record date: 6 Nov. It also approved selling its entire stake in subsidiary CTUIL to Grid Controller of India for about Rs 73.46 crore.
Zydus Lifesciences: completed its acquisition of Sterling Biotech Ltd’s API business. The deal was announced in September 2024.
Muthoot Finance: net profit rose 34.12% year-on-year to Rs 3,246.53 crore in the July-Sept quarter.
Marico: net profit rose 30.95% year-on-year to Rs 550 crore in the July-Sept quarter.
Lupin: received USFDA approval for generic Amifampridine tablets, used to treat a rare condition that causes muscle weakness. It is eligible for 180-day shared generic exclusivity.
Ambuja Cements: announced a Rs 14,500 crore investment plan to add 30 MTPA of cement production capacity across 6 states.

Auto Updates (October)

M&M: sales grew 9% year-on-year to 1.31 lakh units. Domestic passenger vehicle sales grew 2% to 73,338 units while commercial vehicle sales grew 4% to 33,037 units.
Maruti Suzuki: sales rose 25% year-on-year to 2.76 lakh units. Domestic sales stood at 2.17 lakh units and exports stood at 49,872 units.
Bajaj Auto: sales of 2 wheelers and commercial vehicles grew 14% year-on-year to 5.92 lakh units.
Eicher Motors: Royal Enfield motorcycle sales grew 7% year-on-year to 1.33 lakh units.
TVS Motor: sales grew 29% year-on-year to 7 lakh units. EV sales rose 120% and stood at 71,382 units.
Hyundai Motor India: sales grew 17.7% year-on-year to 82,299 units, its highest-ever monthly sales, including export sales of 19,500 units.
Tata Motors: commercial vehicle sales grew 27% to 47,652 units.
Tata Motors Passenger: sales grew 23% year-on-year to 75,426 units. EV sales grew 75% to 16,244 units.
Hero MotoCorp: sales grew 16% year-on-year to 7.34 lakh units. EV (VIDA) sales stood at 30,143 units.
Ashok Leyland: sales of commercial vehicles grew 23% year-on-year to 21,888 units.

Word of the Day

Portfolio Drift

It is when an investment portfolio ends up different from its stated goal because of different assets giving different returns

It is better to understand with the help of an example.

An investor has decided to invest 20% of the total amount in bonds and 80% in shares.

Over time, the shares give higher returns than the bonds. So, the stocks portion grows faster.

Because of this, a few years later, the portfolio is actually 95% shares and 5% bonds.

This portfolio is now riskier than what the investor had originally planned for.

This phenomenon is called portfolio drift.

The portfolio has drifted away from its intended holding structure and risk capacity.

The solution to this is to routinely rebalance the portfolio (yearly, every 2 years, etc), to bring it back to the intended goal: 20% bonds and 80% shares.

The 20-80 split is just an example. Different investors can have different portfolio splits.

6 Day Course

Theme: GMP in IPOs
Day 1: Monday

We often hear investors talking about GMP during IPO applications.

This week, let’s do a deep dive on this topic.

GMP = Grey Market Premium

It is an informal share price of a company’s stock before the stock becomes listed on the share markets.

It is not illegal. But it is not formally recognised either.

When a company is about to go for IPO, some shareholders may start offering the shares (via contracts) for others to buy from them directly.

The price of the shares in this case is determined purely by negotiation and 1-1 discussions.

This is why this price is called the grey market price.

These days there are some platforms that try to help buyers and sellers meet each other, essentially becoming similar to the formal share markets. The legality of these platforms is not clear.

At any point multiple such before-IPO buy/sell transactions can take place between various parties.

The price of the share in these deals is reported anecdotally. This is the GMP.

It is possible that not all prices are reported and publicly known.

————

What If

When a company reports strong quarterly results, its stock is assumed to go up.

After all, if a company is earning more money, shouldn’t its stock also do better?

But sometimes, companies report strong profits, and their stocks still fall. There are also times when profits decline, but share prices rise.

But do share prices really follow earnings that closely? And if a great quarter doesn’t lift a stock right away, does the market catch up later?

We wanted to understand how much quarterly results actually move a stock, and whether earnings are the only thing that matters.

In today’s What If, we tested how stocks with the strongest and weakest profit growth performed against the Nifty 50 in each results season, and how the link between earnings and share prices changed over different periods of time.

We also tested what would have happened if you bought only the 10 fastest-growing companies every quarter.

Read the latest What If here

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

Forex reserves fall, Indian Oil’s profits up 174%, & more - Groww Digest

Fri, 30 Oct 2026 14:55:37 GMT

Markets closed higher compared to yesterday’s closing point.

IT stocks and healthcare stocks rose the most today. Consumer durable stocks and media stocks fell the most.

Global markets: US markets fell on Thursday. Most Asian markets fell on Friday. European markets showed a mixed trend (as of 6 pm IST).

News

India’s forex reserves fell $1.27 billion to $719.75 billion for the week ended 23 Oct.
India’s fiscal deficit widened to 42.1% of the annual budget estimates between April and September, from 36.5% in the same period last year.
The government defended the valuations and bidding process for IDBI Bank- Fairfax deal, saying that the procedure adopted helped increase the transaction value by Rs 3,917 crore.

Stock Updates

Indian Oil: net profit rose 173.84% year-on-year to Rs 21,407.87 crore in the July-Sept quarter.
Bajaj Finance: raised Rs 2,069.50 crore by issuing secured NCDs at an 8.70% interest rate, maturing in 2029 and 2031.
Sun Pharma: net profit fell 36.22% year-on-year to Rs 1,988.53 crore in the July-Sept quarter. This included Rs 1,268.83 crore in one-time costs.
NTPC: subsidiary NTPC Vidyut Vypar Nigam Ltd began commercial operations of its first battery energy storage project, with 250 MW / 500 MWh capacity.
Bharat Electronics: net profit rose 19.60% year-on-year to Rs 1,540.19 crore in the July-Sept quarter.
Coal India: net profit rose 53% year-on-year to Rs 6,516.09 crore in the July-Sept quarter. Dividend declared: Rs 10.25 per share. Record date: 4 Nov.
Varun Beverages: net profit rose 13.81% year-on-year to Rs 828 crore in the July-Sept quarter.
Bank of Baroda: net profit rose 31.24% year-on-year to Rs 6,737.28 crore in the July-Sept quarter.
GAIL: net profit rose 139.29% year-on-year to Rs 4,719.66 crore in the July-Sept quarter. It also approved plans to list subsidiary GAIL Gas through an IPO and transfer 6 city gas distribution areas to it.
Lodha Developers: net profit rose 28.44% year-on-year to Rs 1,013 crore in the July-Sept quarter.
Aditya Birla Capital: net profit rose 37.94% year-on-year to Rs 1,287.68 crore in the July-Sept quarter.
Max Healthcare: net profit fell 15.54% year-on-year to Rs 414.94 crore in the July-Sept quarter. It also approved about Rs 190 crore to add 145 beds at its Noida and Vaishali hospitals.
REC: subsidiary REC Power Development and Consultancy Ltd set up Zanskar Renewable Energy Ltd for a solar and battery-storage project in Ladakh. It will transfer the company to the winning bidder.

Word of the Day

Operating Income

It is the income a company makes from its core business, without accounting for taxes, interest payments, and one-time investments

Operating income can tell us about the potential of a company’s future scale and profitability.

Many new companies that are initially loss-making start by first being loss-making but being operationally profitable.

6 Day Course

Theme: different kinds of funds in India
Day 5: Friday

Now we have some other types of funds.

Unit Linked Insurance Plans (ULIPs): these are insurance products that also give some moderate returns.

It is a commonly subscribed to fund though many question its effectiveness as an investment.

GIFT City funds: these are funds based out of GIFT City Gujarat.

These are funds mainly for foreigners and NRIs to invest in. Resident Indians can also invest in them though there are limits.

With that, we have come to the end of this course.

There are obviously more categories of funds available but they are either not as popular or are not available to a wider set of investors, hence not covered here.

————

US Fed keeps interest rates unchanged, Trent’s profits up 23%, & more - Groww Digest

Thu, 29 Oct 2026 14:42:37 GMT

Markets closed higher compared to yesterday’s closing point.

The markets rose throughout the day. The rise may have been mainly due to positive sentiments in the global markets after the US Fed kept the interest rates unchanged.

Realty stocks and FMCG stocks rose the most today. Cement stocks and auto stocks fell the most.

Global markets: US markets rose on Wednesday. Asian markets ended mixed on Thursday. Most European markets rose (as of 6 pm IST).

News

The US Federal Reserve kept interest rates unchanged in the range of 3.75-4.00%.
Indian companies have signed 23 green hydrogen contracts for supply of 5.5 lakh MTPA which is expected to bring inflows worth Rs 90,000 crore.
17 out of 19 sub sectors rose as per Index of Services Production (ISP) data for August 2026. Only air transport and arts, entertainment & recreation services fell.
SEBI Chairman said that the regulator aims to reduce foreign investor onboarding to 5 days to improve access to Indian capital markets, as per media reports.
Carlsberg India filed an updated DRHP for an IPO. The IPO comprises an offer for sale of 8.64 crore shares with no fresh issue component.
SFC Environmental Technologies’ Rs 667.53 crore IPO was subscribed 9.47 times on day 3. Retail subscription: 2.71 times. The IPO closed for subscription.

Stock Updates

Trent: net profit rose 23.06% year-on-year to Rs 463.77 crore in the July-Sept quarter. Bahram Vakil will replace Noel Tata as Chairman from 12 Nov.
Reliance: subsidiary Hamleys (Franchising) Ltd has applied for voluntary removal from the UK companies register.
Asian Paints: net profit rose 7.45% year-on-year to Rs 1,067.63 crore in the July-Sept quarter. Dividend declared: Rs 5.75 per share. Record date: 4 Nov.
IndiGo: net loss narrowed to Rs 1,878.60 crore in the July-Sept quarter from Rs 2,581.70 crore a year ago. Aircraft fuel expenses rose to Rs 9,966.80 crore from Rs 5,961.80 crore.
Pidilite: net profit rose 6.09% year-on-year to Rs 614.53 crore in the July-Sept quarter.
CG Power: subsidiary Axiro Semiconductor Pvt Ltd invested in US-based ThinSiC Inc and partnered with it to develop semiconductor technology.
PFC: subsidiary PFC Consulting Ltd set up Rundh Gidawara Transmission Ltd for a power-transmission project in Rajasthan. It will later transfer the company to the winning bidder.
Laurus Labs: net profit rose 126.43% year-on-year to Rs 441.48 crore in the July-Sept quarter. Dividend declared: Re 1 per share. Record date: 6 Nov.
Hero MotoCorp: net profit rose 42.21% year-on-year to Rs 1,861.33 crore in the July-Sept quarter. It also approved investing up to Rs 300 crore in subsidiary HMCL Netherlands B.V. for its Colombia and Brazil businesses.
GMR Airports: net loss narrowed to Rs 14.92 crore in the July-Sept quarter from Rs 37.09 crore a year ago. It also appointed Sanjeev Gupta as Deputy CEO from 29 Oct.
Godrej Consumer: net profit rose 13.84% year-on-year to Rs 522.92 crore in the July-Sept quarter. Dividend declared: Rs 5 per share. Record date: 4 Nov.
Ambuja Cements: net profit fell 89.12% year-on-year to Rs 193 crore in the July-Sept quarter. Last year’s profit included a one-time tax benefit of Rs 1,710 crore.

Word of the Day

VIX

It is a measure of volatility of the markets

VIX = Volatility Index

The more volatile the markets, the higher the VIX.

In India, we use India VIX.

If VIX is below 10, the markets are considered to be extremely stable and less volatile.

Most times, it is in the 11-20 range.

During extreme events like the 2008 Great Recession and 2020 pandemic, the VIX can shoot up drastically to as high as 80+.

6 Day Course

Theme: different kinds of funds in India
Day 4: Thursday

Next, let’s talk about pension funds.

In India, the government runs some pension funds that are targeted towards producing pension for investors. Some of these are:

EPF: Employees Provident Fund. This is meant for salaried individuals. It is mandatory for employees and employers both to contribute to this every month.

The rates given by this fund is fixed every year by the government. Right now, it is 8.25%.

PPF: Public Provident Fund. Anyone can invest in this. It has a lock-in of 15 years. The returns provided by this fund are also fixed.

NPS: National Pension Scheme. This is also a voluntary scheme.

It does not offer a fixed return. Its returns depend greatly on the returns provided by the equity markets.

It invests in a mix of stocks, bonds, and government securities.

————

Featured Question

Q. “Jio platforms was initially part of Reliance industries ., now jio is separate listed entity. Then why reliance industries market cap is almost in same levels as the Jio revenues doesnot add to reliance right? Please clarify”

About 65% of Jio is still owned by Reliance.

Jio is very much a subsidiary of Reliance.

Jio’s revenues are counted in Reliance’s.

Still, post IPO, Jio’s valuation has touched higher levels.

So technically, we are partially double counting when we look at Reliance’s market cap and Jio’s market cap separately.

So we can ask the question, how is Jio’s m-cap so high when it is already represented by Reliance’s m-cap?

One possible explanation is that, investors price a company not on its present earnings but its future earnings.

But in the case of Reliance, there are many other businesses along with Jio — including its oil business.

Let’s say an investor is extremely bullish on the telecom business but not as bullish on the oil business.

This makes it difficult for them to price it based on its future potential.

IPO for the telecommunications business (Jio) allows only that business to be valued much higher than the oil business.

This is another potential explanation for why Jio’s m-cap is so high despite it already being majority owned by Reliance.

Another explanation could be the holding company discount.

Holding companies’ stakes are often not as highly valued as the company they hold.

In this case, Reliance is the holding company of Jio.

So it is possible that Jio is being valued much higher and Reliance’s stake in Jio being valued lower because of this phenomenon.

By this explanation, Reliance is being valued for its oil business, other businesses, and for being a holding company of Jio.

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

Industrial production slows to 6.7%, Jio Platforms’ 21% listing gain, & more - Groww Digest

Wed, 28 Oct 2026 14:50:31 GMT

Markets closed lower compared to yesterday’s closing point.

Oil prices rose after a missile strike on Saudi Arabia’s biggest oil refinery leading to increased concerns on supply disruptions. This could have led to the fall.

Oil & gas stocks and IT stocks fell the most today. Auto stocks and consumer durable stocks rose the most.

Global markets: US markets rose on Tuesday. Most Asian markets rose on Wednesday. European markets opened mixed (as of 6 pm IST).

News

India’s Industrial Production (IIP) slowed to 6.7% in September from 8% in August. Manufacturing and electricity & gas supply sectors were the top contributors this month.
The government increased the Dearness Allowance (DA) and Dearness Relief (DR) by 3% with effect from 1st July, which will cost the treasury Rs 10,016.10 crore annually.
A budget of Rs 10,000 crore up to FY 2039-40 was approved by the government for Container Manufacturing Promotion Scheme (CMPS).
The government approved Pradhan Mantri Viksit Gram Swaraj Yojana for 5 years with a total budget of Rs 7,395.55 crore. The central government will fund Rs 4,869.48 crore and the remaining will be covered by the state government.

IPO Corner

Jio Platforms listed at Rs 1,358 on NSE, a premium of 21.36% over its issue price and closed 26.81% higher. It became the second most valued company on listing, in terms of market cap.
Paras Healthcare listed at Rs 720 on NSE, a premium of 3.90% over its issue price and closed 5.45% higher.
EAAA India Alternatives’ Rs 1,200 crore IPO was subscribed 5.25 times on day 3. Retail subscription: 1.03 times. The IPO closed for subscription.
SFC Environmental Technologies’ Rs 667.53 crore IPO was subscribed 0.27 times on day 2. Retail subscription: 0.34 times. The IPO will close for subscription on 29 Oct.

Stock Updates

Hindustan Unilever: net profit rose 3.91% year-on-year to Rs 2,790 crore in the July-Sept quarter. Dividend declared: Rs 19 per share. Record date: 12 Nov.
Adani Ports: net profit rose 16.50% year-on-year to Rs 3,621.94 crore in the July-Sept quarter.
Titan: set up a wholly owned subsidiary in Canada to sell jewellery and other lifestyle products.
Adani Enterprises: net profit fell 54.84% year-on-year to Rs 1,492.04 crore in the July-Sept quarter. Last year’s profit included one-time gains of Rs 3,583 crore.
TVS Motor: net profit rose 50.16% year-on-year to Rs 1,194.51 crore in the July-Sept quarter. It approved plans to separately list its finance business and acquire STPL Trading for Rs 530.08 crore.
SBI Life: net profit rose 11.05% year-on-year to Rs 549.23 crore in the July-Sept quarter.
Hyundai Motor India: net profit fell 23.92% year-on-year to Rs 1,196.16 crore in the July-Sept quarter.
Vedanta Aluminium: net profit rose 117.74% year-on-year to Rs 5,167 crore in the July-Sept quarter. The company was still part of Vedanta Ltd in the last year.
Cholamandalam Investment: net profit rose 40.59% year-on-year to Rs 1,630.34 crore in the July-Sept quarter. It also approved plans to raise up to Rs 5,000 crore through a QIP, subject to approval.
Polycab: NCLAT temporarily stopped MSCI from removing Polycab from its index until it rules on an appeal related to the company’s insolvency proceedings.
Meesho: net loss narrowed to Rs 132.45 crore in the July-Sept quarter from Rs 411.36 crore a year ago.
Indus Towers: net profit fell 2.53% year-on-year to Rs 1,792.80 crore in the July-Sept quarter.
United Spirits: net profit fell 7.76% year-on-year to Rs 428 crore in the July-Sept quarter.
Vedanta: net profit rose 103% year-on-year to Rs 3,650 crore in the July-Sept quarter. Last year’s results were from before the demerger of several businesses in May 2026.
JSW Energy: net profit rose 49.91% year-on-year to Rs 1,056.37 crore in the July-Sept quarter. It also approved plans to raise up to Rs 5,000 crore through NCDs.

Word of the Day

Voting Power

This refers to the voting power an investor has in case of crucial decisions of a company

Usually, 1 share = 1 vote.

This means the greater the number of shares owned, the greater the voting power.

In some cases, there can be shares that have a different voting power.

DVR or Differential Voting Rights usually offer lower voting power. Example: 1 share = 1/10 vote.

Super-voting shares allow shareholders to have greater voting rights than the shares. Example: 1 share = 10 votes.

Companies issue shares with different voting power to raise money while diluting the promoters’ voting to a lesser extent.

6 Day Course

Theme: different kinds of funds in India
Day 3: Wednesday

A few other types of funds that exist but are less widely known are SIFs, AIFs, and PMS.

AIF: Alternative Investment Funds have different categories (category 1, 2, and 3).

Different categories of AIFs invest in different assets and in different styles.

They can invest in unlisted companies’ shares, infra projects, debt, real estate, derivatives, bonds, REITs, InvITs, and other AIFs.

The minimum investment amount in AIFs starts at Rs 25 lakh.

PMS: Portfolio Management Services are similar to mutual funds but can be more customisable and focussed.

There are 3 main categories of PMS depending on the level of customisability. Minimum investment is Rs 50 lakh.

SIF: Specialised Investment Funds have a minimum investment amount of Rs 10 lakh.

They are similar to mutual funds but can take more risks in terms of investment style and assets.

————

Featured Question

Q. “How a New IPO posted at >21% over on bid margin inspite of falling market and sustained and even increased the gap inspite of market going down.How is this hype created over the buyers or some other manipulation?”

We cannot comment on individual IPOs and shares.

Investors must understand that individual stocks’ prices are governed by demand and supply of the shares.

It is entirely possible that a stock goes up when many others are falling and vice versa.

In fact, it happens every day.

Even on days that the markets fall greatly, there are some stocks that end in green.

Similarly, even on days that the markets rise a lot, there are some stocks that end in red.

Example: some consumer companies’ stocks and pharma stocks were going up even during the crash of the pandemic in 2020.

It is true that some IPO stocks are manipulated and could be cases of pump-and-dump schemes. This is more common among stocks of smaller companies.

This is why investors must be careful while choosing to invest in IPOs. Thorough research is needed before investing.

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

Outward FDI falls 14% in Sept, Bajaj Auto’s profits up 62%, & more - Groww Digest

Tue, 27 Oct 2026 15:13:53 GMT

Markets closed flat compared to yesterday’s closing point.

Nifty and Sensex ended slightly lower after a volatile session.

Cement stocks and private bank stocks fell the most today. Media stocks and pharma stocks rose the most.

Global markets: US markets rose on Monday. Asian markets showed a mixed trend on Tuesday. Most European markets opened in green (as of 6 pm IST).

News

India’s outward FDI fell 13.96% to $4.34 billion in September compared to $5.05 billion in August according to RBI data. Outward FDI is the significant investment made by Indian companies in foreign companies.
India’s total number of broadband subscribers rose 0.59% to 1,107.68 million in September compared to 1,101.21 million in August: TRAI.
SEBI extended the deadline for compliance by Debenture Trustees for activities outside of SEBI’s purview to April 2027.
EAAA India Alternatives’ Rs 1,200 crore IPO was subscribed 0.33 times on day 2. Retail subscription: 0.11 times. The IPO will close for subscription on 28 Oct.
SFC Environmental Technologies’ Rs 667.53 crore IPO was subscribed 0.10 times on day 1. Retail subscription: 0.16 times. The IPO will close for subscription on 29 Oct.

Stock Updates

Bajaj Auto: net profit rose 61.93% year-on-year to Rs 3,436.10 crore in the July-Sept quarter. The results include its recently acquired Austrian business.
L&T: net profit rose 32.50% year-on-year to Rs 5,202.10 crore in the July-Sept quarter. It also won a ‘major’ order (Rs 5,000 crore to Rs 10,000 crore category) for Dhaka Metro Line 1 in Bangladesh.
Maruti Suzuki: net profit fell 26.36% year-on-year to Rs 2,466.10 crore in the July-Sept quarter.
Tata Motors: partnered with Amazon to deploy 3,000 electric trucks across its transportation network in India.
Tata Capital: net profit rose 51.27% year-on-year to Rs 1,659.87 crore in the July-Sept quarter. The board also approved increasing its overseas bond issuance limit from $2 billion to $3 billion.
LTM: won a two-year technology services deal with a global banking company, potentially worth up to $100 million.
Tata Power: signed an MoU with BPCL to develop electricity infrastructure for its Mumbai refinery. It involves a combined investment of around Rs 250 crore.
One 97 Comm (Paytm): net profit rose to Rs 226 crore in the July-Sept quarter from Rs 21 crore a year ago. It also approved investing up to Rs 500 crore in subsidiary Paytm Cloud Technologies, which may further invest in its Singapore subsidiary.
Cipla: net profit fell 35.05% year-on-year to Rs 877.54 crore in the July-Sept quarter.
Persistent Systems: raised Rs 4,264.61 crore through a QIP to institutional investors at Rs 5,550 per share.
Mazagon Dock: net profit fell 54.09% year-on-year to Rs 344.12 crore in the July-Sept quarter. Dividend declared: Rs 5 dividend per share. Record date: 3 Nov.

Word of the Day

Free Float Shares

These are shares of a company that are readily available for trade on the share markets

Shares that are held by the promoters/founders, employees, government bodies, etc along with locked up shares are not a part of free float shares.

These shares are usually held by the shareholder for control over the company and therefore are less likely to be traded.

These are called restricted shares.

All other shares are deemed free float shares.

(Total Outstanding Shares) - (Restricted Shares) = (Free Float Shares)

6 Day Course

Theme: different kinds of funds in India
Day 2: Tuesday

Let’s go a bit deeper into REITs and InvITs today.

REITs as a category is a relatively new fund type in India. Only about 5 REITs exist in India as of now.

They own commercial properties. The income those properties earn is the income of the investors.

Different REITs follow a different rent-sharing schedule. Some pay quarterly, some have other timelines.

SEBI requires REITs to pay at least 90% of the distributable cashflow to the investors of the REITs.

Investors earn via appreciation of the units they own + rental income + debt repayment from the properties owned.

InvITs are similar but instead of commercial properties like shopping malls and offices, InvITs own power transmission lines, tolled highways, etc.

Their income comes from contracts and not rent.

————

Featured Question

Q. “This was posted on Groww digest on 21-Oct "Bajaj Finance: issued secured zero-coupon NCDs worth Rs 2,120 crore through private placement basis, maturing in Oct 2031" Who would buy a zero coupon NCD? Irrespective of the investor, FII, DII or retail invest for returns, if the coupon is zero, what is the point of investing? ”

Such bonds are offered at a price lower than the maturity value.

They pay no interest and simply give a lump sum amount at the end of the maturity period.

But the buying price of these bonds at the present date is lower than the maturity amount.

The difference is the profit an investor makes.

Why do it like this?

Why not simply a bond with no interest rate payment till the maturity happens?

There are accounting, legal, and taxation reasons behind this.

Example: A zero coupon NCD offers a bond with zero coupon (0% p.a.) which will pay Rs 1.1 lakh in one year’s time. An investor can invest in this today by buying the bond for Rs 1 lakh. So effectively, the investor is making a return of 10% p.a.

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

Govt approves flex fuel vehicles, Mankind Pharma’s profits up 39%, & more - Groww Digest

Mon, 26 Oct 2026 15:11:02 GMT

Markets closed higher compared to Friday’s closing point.

Nifty and Sensex opened lower but managed to end the session in green.

Metal stocks and cement stocks rose the most today. Media stocks and consumer durable stocks fell the most.

Global markets: US markets fell on Friday. Asian markets traded mixed on Monday. Most European markets opened in green (as of 6 pm IST).

News

The government approved the rollout of flex fuel vehicles capable of running on E20 to E100 ethanol blends under the new Central Motor Vehicles Rules, 2026.
A total of Rs 17.73 lakh crore was spent on 1,853 infrastructure projects from a total budget of Rs 37.56 lakh crore, as of September. Transport and Logistics accounts for the highest number of ongoing projects (1,320 projects) worth Rs 20.07 lakh crore.
The government cleared acquisition proposals worth Rs 2.12 lakh crore for defence forces. About 82% of the procurements will be made from the Indian industry.
The due date for companies to file financial statements for FY25-26 is extended up to 31 December without payment of additional fees. Annual returns can be filed up to 31 January.
EAAA India Alternatives’ Rs 1,200 crore IPO was subscribed 0.11 times on day 1. Retail subscription: 0.04 times. The IPO will close for subscription on 28 Oct.

Stock Updates

Mankind Pharma: net profit rose 39.09% year-on-year to Rs 711.48 crore in the July-Sept quarter. The board also approved the merger of two wholly owned subsidiaries, Prolijune Lifesciences Pvt Ltd and Pavi Buildwell Pvt Ltd, into Mankind Pharma, subject to approvals.
Kotak Mahindra: net profit rose 26.34% year-on-year to Rs 5,645.38 crore in the July-Sept quarter.
Sun Pharma: raised Rs 7,816.02 crore through unsecured NCDs (Rs 2,003 crore at 8.05% interest and Rs 5,813 crore at 8.20%), maturing in October 2031.
HCLTech: partnered with Japan’s Rapidus Corporation and inaugurated two semiconductor engineering development centres in Bengaluru and Hubli.
Grasim: Bombay High Court quashed an income-tax reassessment notice relating to Rs 329 crore of alleged unassessed income from its participation in Vodafone Idea’s FY20 rights issue.
Reliance Industries: subsidiary Jio Platforms fixed its IPO issue price at Rs 1,119 per share, the top of its price band.
Tata Consumer: net profit rose 16.03% year-on-year to Rs 469.30 crore in the July-Sept quarter.
Lupin: the USFDA completed an inspection of its Goa manufacturing plant with one observation.
REC: net profit fell 21.23% year-on-year to Rs 3,477.73 crore in the July-Sept quarter. Dividend declared: Rs 3.50 per share. Record date: 30 Oct.

Word of the Day

Phantom Stocks

These are mock shares used to reward senior executives in companies without actually creating new shares

We commonly hear of senior executives of companies receiving stocks as part of their compensation.

Rewarding these shares requires creation of new shares.

Doing so results in shareholding percentage diluting for other investors.

Many companies prefer to give phantom stocks instead of real stocks.

Phantom stocks do not really exist.

They simulate the value of real shares.

Whenever the executive is due for the phantom stocks, he/she is given the cash amount matching the value of his phantom shares.

This does not require creation of new shares and therefore does not affect shareholders’ percentage ownership and voting rights in the company.

6 Day Course

Theme: different kinds of funds in India
Day 1: Monday

We all know that there are different kinds of funds that exist in India.

The mutual funds category is one of the most well-known ones.

This week, we’ll explore the different kinds of funds that exist in India.

Let’s start with mutual funds (MFs).

MFs can invest in various kinds of assets including stocks, derivatives, bonds, deposits, gold and silver, ETFs, and even REITs and InvITs.

REITs: Real Estate Investment Trusts are funds that invest in commercial real estate. Mutual funds cannot invest in real estate directly but they can invest in REITs.

InvITs: Infrastructure Investment Trusts are funds that invest in infrastructure projects like power transmission, highways, tolled roads, etc.

————

What If

The stock market has its favourite sectors.

Sometimes it’s IT, sometimes banks, and sometimes some other sector.

But when a sector performs badly for a long time, investors often start seeing it as an opportunity.

Investing at such a time might seem like a good deal. And if a sector has been struggling for years, one might assume it will rise at some point.

But does this actually work?

In today’s What If, we looked at 9 Indian sectors using 20 years of market data.

We tested what happened when investors bought a sector after three years of underperformance or a fall of at least 30% from its highest point. We then compared its returns over the next 1, 3 and 5 years with the Nifty 50.

Read the latest What If here

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

Tonbo Imaging’s 65% listing gains, Dr Reddy’s profits down 31%, & more - Groww Digest

Fri, 23 Oct 2026 14:45:52 GMT

Markets closed lower compared to yesterday’s closing point.

Geopolitical tensions continued to push oil prices higher which could have been a reason for the fall. The drop was more significant in the stocks outside of the Nifty 50.

All sectors’ stocks fell. Metal stocks and consumer durable stocks fell the most today.

Global markets: US markets ended mixed on Thursday. Asian markets also traded mixed on Friday. Most European markets opened in red (as of 6 pm IST).

News

India’s forex reserves fell $5.01 billion to $721.02 billion for the week ended 16 Oct.
SEBI relaxed margin rules for cash trades by allowing clients to use value of early delivered shares for subsequent trades as margin, effective from 22 February 2027.
Commerce Minister Piyush Goyal said that the EU’s carbon tax on steel and other industrial products could increase infrastructure costs, and trigger retaliatory measures from its trading partners.
SEBI removed the mandatory call recording requirements for research analysts interacting with institutional investors, while keeping the requirements for retail investors.
BSE invited applications for the post of MD & CEO and announced requirements through a post on X (formerly Twitter). The deadline for applications is 19 Nov.

IPO Corner

Tonbo Imaging India Ltd listed at Rs 1,160 on NSE, a premium of 65.71% over its issue price and closed 65.04% higher.
Zetwerk Manufacturing Businesses Ltd listed at Rs 159.25 on NSE, a premium of 5.46% over its issue price and closed 6.82% lower.
Bonfiglioli Transmission Ltd listed flat at Rs 586 on NSE and closed 3.40% lower.
Jio Platforms’ Rs 30,213 crore IPO was subscribed 20.59 times on day 3. Retail subscription: 2.70 times. The IPO closed for subscription.
Paras Healthcare’s Rs 1,450 crore IPO was subscribed 2.23 times on day 3. Retail subscription: 2.00 times. The IPO closed for subscription.

Stock Updates

Dr Reddy’s: net profit fell 31.35% year-on-year to Rs 924.80 crore in the July-Sept quarter.
Infosys: net profit rose 6.23% year-on-year to Rs 7,823 crore in the July-Sept quarter. Dividend declared: Rs 26 per share. Record date: 3 Nov.
Bajaj Finserv: subsidiary Bajaj General Insurance appointed Deepak Reddy as CEO Designate from January 2027. He will replace Tapan Singhel as MD & CEO in April 2027, subject to IRDAI approval.
Power Grid: completed its power-transmission project connecting renewable-energy zones in Koppal and Gadag, Karnataka.
Shriram Finance: net profit rose 59.19% year-on-year to Rs 3,683.81 crore in the July-Sept quarter. Dividend declared: Rs 6.50 per share. Record date: 29 Oct.
Torrent Pharma: net profit fell 9.64% year-on-year to Rs 534 crore in the July-Sept quarter.
Tata Motors: reported a net profit of Rs 1,257 crore in the July-Sept quarter from a loss of Rs 867 crore a year ago.
CG Power: net profit rose 43.71% year-on-year to Rs 412.04 crore in the July-Sept quarter.
Cipla: the USFDA inspected its US subsidiary InvaGen’s facility in New York and found no issues.
SBI Funds Management: net profit fell 5.99% year-on-year to Rs 701.24 crore in the July-Sept quarter.
Jindal Steel: net profit rose 21.34% year-on-year to Rs 774.43 crore in the July-Sept quarter.
Godrej Consumer: started making household insect-control products at its new factory in Indonesia, part of an earlier Rs 250 crore investment plan.
JSW Steel: net profit rose 225.26% year-on-year to Rs 5,279 crore in the July-Sept quarter. It also approved a 5 MTPA expansion of its Odisha joint venture plant, with JSW and JFE Steel investing Rs 3,750 crore each.
Coforge: net profit rose 56.49% year-on-year to Rs 588.10 crore in the July-Sept quarter.
Shree Cement: net profit fell 15.13% year-on-year to Rs 261.82 crore in the July-Sept quarter.

Word of the Day

OTM

In FnO, it is an option that has no intrinsic value

OTM = Out of the Money

A call option lets you buy at a fixed price.

An OTM call option would let you buy at a price higher than current price.

Example: an OTM call option lets you buy a certain company’s shares for Rs 220. While its share price in the market is currently Rs 200.

In this case, the call option is not used. It is better to simply buy from the share market instead of using the option.

A put option lets you sell at a fixed price.

An OTM put option would let you sell at a price lower than current price.

Example: an OTM put option lets you sell a certain company’s shares for Rs 180. While its share price is currently Rs 200.

In this case, the put option is not used. It is better to simply sell in the share market instead of using the option.

An OTM option can become useful if the share price changes.

Example: an OTM call option lets you buy at Rs 220. The current share price is Rs 200. But tomorrow, the share price jumps to Rs 244.

Now it makes sense to use the call option.

Such options are called In the Money (ITM) options. Which means this option has an intrinsic value.

Or in other words, it makes sense to use the call or put option instead of buying or selling in the markets at current share price.

If the option’s strike price matches the share price exactly, it is called an At the Money (ATM) option.

6 Day Course

Theme: dividends
Day 5: Friday

Now, the discussions made so far might have made dividends very attractive.

So the question is — is it simply better to stick to investing in dividend paying stocks only?

Not really.

Some of the fastest growing companies pay no dividends largely because they are reinvesting their earnings back in the business.

Many simply use the extra profits to build a cash reserve for a future rainy day.

According to some studies, dividend-paying or non-dividend-paying stocks have no inherent advantage over each other.

Many investors prefer companies not to pay dividends and instead reinvest in the business because paying dividends results in taxation for the investors.

So these investors see it as a better deal to simply re-invest the money back in the company.

In India, dividends are added to individuals’ annual income while calculating tax. So it is taxed as per a person’s income tax slab rate.

10% of this is via TDS if the dividend value in a financial year exceeds Rs 10,000.————

Crude oil imports rose 47%, Adani Energy’s profits up 148%, & more - Groww Digest

Thu, 22 Oct 2026 14:03:20 GMT

Markets closed lower compared to yesterday’s closing point.

Oil prices rose after the drone attacks on Saudi Aramco oilfield and raised concerns of further oil supply disruptions.This could have led to the fall.

Media stocks and FMCG stocks fell the most today. Pharma stocks and PSU Bank stocks rose the most.

Global markets: US markets rose on Wednesday. Most Asian markets fell on Thursday. European markets also opened in red (as of 6 pm IST).

News

India’s crude oil imports rose 47% to $15.4 billion in September while volumes grew 6.8% to 21.7 million tonnes, as per media reports.
National Commodities and Derivatives Exchange (NCDEX) launched NDEX and FINNDEX, 2 rule based indices and entered the equity and equity derivatives market.

IPO Corner

Jio Platforms’ Rs 30,213 crore IPO was subscribed 5.55 times on day 2. Retail subscription: 1.53 times. The IPO will close for subscription on 23 Oct.
Paras Healthcare’s Rs 1,450 crore IPO was subscribed 0.34 times on day 2. Retail subscription: 1.31 times. The IPO will close for subscription on 23 Oct.
Fusion CX listed at Rs 305 on NSE, a premium of 5.54% over its issue price and closed 0.69% higher.

Stock Updates

Adani Energy: net profit rose 147.74% year-on-year to Rs 1,322.85 crore in the July-Sept quarter.
Adani Ports: subsidiary Adani International Ports Holdings Pte Ltd incorporated Indian Ocean Gateway Terminal in Oman to expand its international ports business.
Bharat Electronics: received new orders worth Rs 1,011 crore for radars, communication equipment, sonar systems, jammers and other services.
PFC: subsidiary PFC Consulting Ltd incorporated an SPV (Northern Region Power Transmission Ltd) for a transmission project in northern India.
Persistent Systems: launched a QIP to raise up to $450 million (about Rs 4,264.61 crore).

Word of the Day

MAB

It is the average balance amount a bank requires depositors to maintain in their bank account

MAB = Monthly Average Balance

It is calculated as the average balance across the month.

If the MAB falls below the limit, banks usually charge a penalty for that month.

The MAB is different for different banks, bank account types, and regions.

For example, some private banks have an MAB requirement of Rs 10,000 in urban areas.

Some banks have an MAB requirement of only Rs 250 in some rural areas.

There are also some bank account types that have an MAB requirement of Rs 0.

6 Day Course

Theme: dividends
Day 4: Thursday

Dividend yield is the total dividend paid compared to the share price.

Let’s say a company’s share price is Rs 100 and its total dividend is Rs 3.

So the dividend yield comes to 3%.

Many investors try to buy dividend paying stocks so that in the future, when its share price rises, and its dividend rises with it, dividend yield is very high (compared to their cost of buying the shares).

This is called yield on cost.

This is assuming that the share price rises, and the dividend also rises.

Example: a stock has a track record of paying a dividend yielding around 2%. Its current share price is Rs 100.

An investor buys this today. 3 years later, its share price and dividend have doubled. The dividend is Rs 4, and share price is Rs 200.

Since this investor bought the share at Rs 100, his yield on cost is 4% now.

This ideal-case scenario is what many dividend-stock investors like to chase.

————

Infrastructure output rose 7.9%, HD Fire Protect’s 24% listing gain, & more - Groww Digest

Wed, 21 Oct 2026 14:45:20 GMT

Markets closed lower compared to Monday’s closing point.

The fall was sharper in the broader market. Brent crude oil prices rose to $110 a barrel as tensions between US and Iran continued to escalate which could have led to the fall.

Chemical stocks and consumer durable stocks fell the most today. IT stocks and cement stocks rose the most.

Global markets: US markets traded mixed on Tuesday. Most Asian markets rose on Wednesday. European markets rose (as of 6 pm IST).

News

India’s Infrastructure Output rose 7.9% in September compared to 5.9% in August.
Retail automobile sales fell 6.52% year-on-year to 11.23 lakh units in the Navratri period compared to the previous year, as per provisional data from Federation of Automobile Dealers Associations (FADA).
The government introduced Form 173A, a new form to claim income-tax exemption on interest and capital gains from government securities under the Income-tax (Seventh Amendment) Rules, 2026.

IPO Corner

Jio Platforms’ Rs 30,213 crore IPO was subscribed 3.03 times on day 1. Retail subscription: 0.70 times. The IPO will close for subscription on 23 Oct.
Paras Healthcare’s Rs 1,450 crore IPO was subscribed 0.15 times on day 1. Retail subscription: 0.69 times. The IPO will close for subscription on 23 Oct.
HD Fire Protect listed at Rs 335 on NSE, a premium of 23.62% over its issue price and closed 11.62% higher.

Stock Updates

Bajaj Finance: issued secured zero-coupon NCDs worth Rs 2,120 crore through private placement basis, maturing in Oct 2031.
L&T: won ‘large’ orders (Rs 2,500 crore to 5,000 crore category) to build Central Secretariat buildings in Delhi and two 47-storey office towers in Amaravati.
Eternal (Zomato): net profit rose 92.31% year-on-year to Rs 125 crore in the July-Sept quarter. It plans to transfer its Going-out India business to its subsidiary, Zomato Entertainment, for around Rs 130.76 crore. It will also swap its stake in Adonmo for shares of Mygate worth about Rs 156 crore.
Adani Green: net profit rose 15.44% year-on-year to Rs 673 crore in the July-Sept quarter.
Grasim: started production at its new epichlorohydrin chemical plant in Gujarat, with an annual capacity of 50,000 tonnes.
Zydus Lifesciences: received USFDA approval for a generic menopause treatment patch. The medicine’s annual US market sales are around $45.7 million.
Indian Hotels: net profit rose 22.66% year-on-year to Rs 349.49 crore in the July-Sept quarter.
Dr Reddy’s: received DCGI approval to use its cancer medicine Zytorvi with chemotherapy to treat certain patients with advanced food-pipe cancer.

Word of the Day

Controlling Shareholder

It is the shareholder who can exercise significant control over the company because of the voting power they have

Controlling shareholders may or may not be the biggest block of shareholders.

Their control comes from being a significant shareholder and therefore having significant voting power.

They may even own less than 50% of a company’s shares.

Shareholders who own more than 50% of a company’s shares are called majority shareholders.

6 Day Course

Theme: dividends
Day 3: Wednesday

In case of dividend payment, there are a few important days that must be remembered.

First comes the dividend announcement. The company announces that it intends to pay dividends.

It also announces the record date.

On the ex-dividend date, the share trades without counting the dividend value on its books. Which means, the share price drops by roughly the dividend amount.

Example: the share price of a company was Rs 204 and it announced a dividend of Rs 2. On the ex-dividend date, the share price dropped to Rs 202.05.

Record date: this is the cut off date for receiving the dividend.

Investors whose names are not on the shareholders’ names list on this date are not eligible to get the dividend.

India now follows a faster T+1 settlement cycle which means the ex-dividend date and the record date fall on the same date now.

So, to get the dividend, the shares must be in an investor’s demat account on this date.

Dividend payout date: the dividend is paid to investors on this date.

————

Markets holiday today, Jio raises Rs 8,109.9 cr ahead of IPO, & more - Groww Diges

Tue, 20 Oct 2026 14:00:25 GMT

The Indian stock markets were closed today on account of Dussehra.

Hence, there won’t be any updates on the Nifty 50, Sensex, Top Gainers, and Top Losers sections today.

Global markets: US markets traded mixed on Monday. Most European and Asian markets fell (as of 6 pm IST).

News

Jio Platforms raised Rs 8,109.84 crore from 212 anchor investors ahead of its IPO. LIC, New World Fund, Government of Singapore, received the highest allocation.
The government clarified that it has no plans to regulate airline ticket prices under the new airfare rules, but will impose caps on airfares in exceptional cases like natural disasters or major disruptions, as per media reports.

Stock Updates

Sun Pharma: its cancer drug UNLOXCYT is now recommended as a preferred treatment under US medical guidelines for certain skin cancer patients who cannot undergo surgery or radiation.
PFC: received No Objection letters from BSE and NSE for its proposed merger with REC Ltd, subject to necessary approvals.
Max Healthcare: shareholders approved plans to expand into medical education and medicine manufacturing

Word of the Day

Independent Director (ID)

They are external members of a company’s board and are responsible for voting on key decisions that come to the board.

The ID should have no financial/personal gains from that company apart from the compensation they receive as an ID.

They are responsible for bringing unbiased perspective and to protect the interests of minority shareholders.

They are appointed by the shareholders and are registered in the Independent Directors Databank of India.

6 Day Course

Theme: dividends
Day 2: Tuesday

Companies pay dividends when they do not have use for the extra profits.

If they think they can re-invest the extra profits, they can skip paying dividends to re-invest the money for future growth.

This is the theory. In practice, many companies try to pay dividends no matter what.

This means they pay dividends even if they need the money for future growth. They may even pay dividends despite making losses.

Why?

Not paying dividends can affect the company’s reputation and sentiments associated with the stock.

Many investors might think the company’s future is not healthy and might start selling the stocks, crashing its price.

This is not always true. But it can happen.

This is why companies that have a reputation for paying dividends try to remain consistent with paying dividends.

Of course, there are companies that reduce or even stop paying dividends with no negative impact to their share price. But this is rare.

Featured Question

Q. “In 15th October Groww digest, you told that Markets closed significantly higher compared to yesterday’s closing point. The fall in global AI stocks, especially Asian tech stocks due to higher interest rate expectations in the US, could have improved investor sentiment towards India. But on the same date FII net sold for Rs. -5,285.37 crore. Why? At least FII should buy in net positive value.”

Let’s ask another question: why do they need to buy for the markets go to up?

As a group, FIIs are significant and own many shares. But they are not the only big players in the markets.

This is why they could be selling and the markets still going up at the same time.

Markets go up when the demand for shares is higher than supply (loosely speaking, the reality is more nuanced).

If FIIs withdrew on that day, and the markets still rose, it means some of the other groups (DIIs, individual retail investors, promoters, etc) were buying in larger chunks.

Why do FIIs sell when others are buying?

There could be many reasons for this. It is possible that some factors that affect them do not affect DIIs and other India-based investors.

This is the most common reason behind FIIs selling and investors buying on the same day.

————

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

SEBI registration details: View registered name and registration numbers

Research Analyst Disclaimer: View Research Analyst disclaimer

Did you like this edition?
Leave a feedback here!

Muhurat Trading timing announced, Axis Bank’s profit up 39%, & more - Groww Digest

Mon, 19 Oct 2026 15:33:39 GMT

Markets closed significantly lower compared to Friday’s closing point.

Nifty and Sensex fell sharply lower in early trading session and continued to fall.

All sectors’ stocks fell today except PSU Bank stocks. Private bank stocks and chemical stocks fell the most today.

Global markets: US markets fell on Friday. Asian markets traded mixed on Monday. Most European markets fell (as of 6 pm IST).

News

NSE and BSE announced that the special one hour trading session called Muhurat Trading will take place between 02:20 pm and 03:30 pm on 08 Nov.
The India- New Zealand Free Trade Agreement (FTA) will come into effect from tomorrow, 20 Oct. It will provide duty free access for 100% of Indian exports to New Zealand.
The government directed oil marketing companies to reduce sugar diversion for ethanol production to 0 in 2026-27, as per media reports. This aims to protect sugar supplies and reduce prices.

IPO Corner

Zetwerk Manufacturing Business’s Rs 5,012 crore IPO was subscribed 3.06 times on day 3. Retail subscription: 0.73 times. The IPO closed for subscription.
Bonfiglioli Transmissions Limited’s Rs 2,533.81 crore IPO was subscribed 46.06 times on day 3. Retail subscription: 5.91 times. The IPO closed for subscription.
Tonbo Imaging India Limited’s Rs 852 crore IPO was subscribed 135.90 times on day 3. Retail subscription: 31.07 times. The IPO closed for subscription.

Stock Updates

Axis Bank: net profit rose 39.38% year-on-year to Rs 7,704.67 crore in the July-Sept quarter.
HDFC Bank: net profit rose 5.55% year-on-year to Rs 20,700.03 crore in the July-Sept quarter.
ICICI Bank: net profit rose 22.28% year-on-year to Rs 16,333.18 crore in the July-Sept quarter.
TCS: expanded its partnership with Indian Bank to provide treasury and foreign-exchange software for its Colombo branch in Sri Lanka.
Bajaj Finance: net profit rose 28.53% year-on-year to Rs 6,266.20 crore in the July-Sept quarter.
L&T: received the go-ahead to begin preliminary work on its earlier-awarded Tashkent airport terminal project, an ultra-mega project (over Rs 15,000 crore).
UltraTech: net profit rose 21.24% year-on-year to Rs 1,501 crore in the July-Sept quarter. It agreed to guarantee a loan of up to $55 million for UHG Holdings IFSC Pvt Ltd, a group company in which Hindalco owns 50%.
JSW Steel: the Orissa High Court cancelled a Rs 696.32 crore mining penalty and ordered a fresh review of another Rs 1,472.69 crore penalty. It also received NCLT approval to merge Piombino Steel Ltd into the company.
Bajaj Finserv: set up a new subsidiary, Bajaj Reinsurance Ltd, to enter the reinsurance business.
Hindustan Zinc: net profit rose 142.05% year-on-year to Rs 6,412 crore in the July-Sept quarter.
Union Bank of India: net profit rose 30.62% year-on-year to Rs 5,781 crore in the July-Sept quarter.
Vedanta: subsidiary Vedanta Zinc International completed a $600 million expansion of its Gamsberg mine in South Africa.

Word of the Day

Double-pledging

It is a case where an asset is used as a collateral for two different loans.

In corporate history, there have been some companies that used double pledging to get multiple loans.

Often, these cases don’t end well as they are eventually unable to repay and the scam gets revealed.

This is illegal.

Using the same asset for multiple loans is legal when all borrowings and pledges are clearly revealed to all lenders.

Example: a company has a ship worth Rs 100 cr. It uses that ship as collateral to get two different loans worth Rs 60 cr each from two different lenders without revealing to them about the other loan.

6 Day Course

Theme: dividends
Day 1: Monday

Many companies pay dividends, but not all.

Why? Why does the share price fall when dividends are paid? Are dividend stocks safer? What happens to dividend payments when a company makes losses?

In this week’s course, we will understand dividends better.

In extremely simple terms, dividend payout is the sharing of profits.

Companies pay dividends per share. So, the total dividends received depends on the number of shares owned by an investor.

Some companies pay dividends every quarter, throughout the financial year. Some may pay only in 2 quarters. Some even less.

These are called interim dividends.

There may also be a final dividend in addition to the interim dividends.

In such cases, the total dividend paid out in a financial year = all interim dividend + final dividend.

Example: dividend in Q1: Rs 3, dividend in Q2: Rs 4, dividend in Q3: Rs 2, dividend in Q4: Rs 3.5, final dividend: Rs 5.5. Therefore in this case, total dividend = Rs 18

————

What If

Every Diwali, Indian investors look forward to Muhurat Trading session, the special one-hour trading session to trade a few shares since it is considered auspicious.

The belief is that money invested at an auspicious moment should do well.

This is not limited to Indian markets. Investors around the world believe in certain popular investing proverbs like, “sell in May and go away”, “as January goes, so goes the year”, etc.

These sayings survive because they seem to work often enough to be remembered.

But does following them actually make you more money?

In today’s What If, we tested four popular stock market beliefs in the Indian market between 2015 and 2025.

We tracked what happened to stocks and gold bought during Muhurat Trading and tested some popular investing proverbs in the global market.

Read the latest What If here

The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.

Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.

Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.

SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662

Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.

SEBI registration details: View registered name and registration numbers

Did you like this edition?
Leave a feedback here!

SEBI revises CAS framework, Jio Financial’s profit falls 51%, & more - Groww Digest

Sat, 17 Oct 2026 05:30:30 GMT

Markets closed higher compared to yesterday’s closing point.

Nifty and Sensex opened lower but rose around 10 am and ended positive.

IT stocks and media stocks rose the most today. Consumer durable stocks and oil & gas stocks fell the most.

Global markets: US markets rose on Thursday. Most Asian markets ended in green on Friday. European markets also rose (as of 6 pm IST).

News

SEBI revised the CAS framework to calculate the reference price for closing auctions based on volume-weighted average price (VWAP) of trades. The changes will take effect from 7 Dec.
India’s forex reserves fell $8.58 billion to $726.03 billion for the week ended 9 Oct.
The government raised windfall tax on petrol exports to Rs 2.5 per litre (vs Rs 0.5 earlier). The duty on diesel exports was cut to Rs 8.5 per litre (vs Rs 16 per litre).
India’s current account deficit narrowed to $5.2 billion in August compared to $6.1 billion in August a year ago.
Mutual funds stopped accepting new investments in gold fund of funds (FoFs) from 16 Oct due to verbal restrictions imposed by SEBI, as per media reports.
Indian Gas Exchange Ltd, Cult.fit Ltd and 2 others received SEBI approval for IPO.

IPO Corner

Fusion CX’s Rs 702 crore IPO was subscribed 4.45 times on day 3. Retail subscription: 5.70 times. The IPO closed for subscription.
Zetwerk Manufacturing Business’s Rs 5,012 crore IPO was subscribed 0.31 times on day 2. Retail subscription: 0.36 times. The IPO will close for subscription on 19 Oct.
Bonfiglioli Transmissions Limited’s Rs 2,533.81 crore IPO was subscribed 0.99 times on day 2. Retail subscription: 1.16 times. The IPO will close for subscription on 19 Oct.
Tonbo Imaging India Limited’s Rs 852 crore IPO was subscribed 7.78 times on day 2. Retail subscription: 7.13 times. The IPO will close for subscription on 19 Oct.

Stock Updates

Jio Financial: net profit fell 51.02% year-on-year to Rs 340.44 crore in the July-Sept quarter.
Maruti Suzuki: won a tax dispute, with an estimated benefit of Rs 13,000 crore (including interest). It also expects a Rs 6,300 crore reduction in potential liabilities.
NTPC: signed an agreement with Africa50 (organisation backed by African governments) to explore electricity-generation projects and power trading across Africa.
Power Grid: received a Letter of Intent for a power-transmission project in Pune, Maharashtra, with annual transmission charges of Rs 199.55 crore.
Shriram Finance: renamed subsidiary Shriram Overseas Investments Ltd to Shriram Gilts Ltd as part of its plans to enter the government securities trading business.
Solar Industries: subsidiary Solar Explochem Ltd agreed to acquire explosives manufacturer Sivasakthi Industrial Explosives Pvt Ltd for Rs 115.02 crore.
DLF: net profit rose 10.28% year-on-year to Rs 1,301.35 crore in the July-Sept quarter. This included a Rs 738.71 crore accounting gain from changes in the value of convertible debentures.
PNB: net profit rose 15.08% year-on-year to Rs 5,898.37 crore in the July-Sept quarter.
LTM (formerly LTIMindtree): net profit fell 0.23% year-on-year to Rs 1,397.90 crore in the July-Sept quarter. Dividend declared: Rs 25 per share. Record date: 23 Oct.
PFC: received RBI’s approval to proceed with its proposed merger with REC, subject to approvals.
Jindal Steel: subsidiary Jindal Paradip Port started operations of a 12.5 million-tonne annual cargo-handling facility in Odisha, part of a Rs 3,393 crore port project.
Mankind Pharma: will acquire a 70% stake in Belgium-based Armed Cell Therapeutics for 48 million euros. The company develops advanced cancer treatments.
Persistent Systems: approved plans to raise up to Rs 9,000 crore (Rs 8,000 crore NCDs and Rs 1,000 crore commercial paper) to fund its acquisition of Germany-based Nagarro.
Bharat Forge: invested Rs 240 crore in subsidiary Kalyani Strategic Systems Ltd through a rights issue. Rs 163 crore of it will be used to set up an explosives-filling facility for ammunition.

Word of the Day

Asset Quality

It refers to the overall reputation of an investment asset, especially bonds and debt

A bond with good asset quality would be less likely to default, would have good governance and audit practices, track record of timely payments, etc.

Asset quality is also used in other investments like real estate, private equity, etc.

In those contexts the parameters being measured would be different. But the overall idea remains the same.

6 Day Course

Theme: understanding bond pricing
Day 5: Friday

Another factor that influences bond prices is liquidity.

Bonds that can easily be bought and sold on the bond markets tend to be priced more favourably.

Bonds that have less liquidity are usually more volatile and sensitive to external factors.

Broadly speaking, other economic factors like inflation, health of the economy, etc and expectations based on those factors are all a part of pricing bonds in bond markets.

In some sense, it is similar to stocks — the factors affecting them are many.

And, those factors interact with each other making pricing difficult to predict with accuracy.

————