Forex reserves cross $700 billion, BPCL's Rs 10 dividend, & more - Groww Digest
Friday, 23 January 2026
Markets opened almost at yesterday’s closing point.
All sectors’ stocks fell today. Realty stocks and media stocks fell the most.
Global markets: US markets and Asian markets rose. European markets showed a mixed trend (as of 6 pm IST).
News
India’s manufacturing PMI rose to 56.8 in Jan (vs 55 in Dec), as per preliminary estimates. Services PMI rose to 59.3 (vs 58 in Dec). Composite PMI (manufacturing + services) rose to 59.5 (vs 57.8 in Dec). This means economic activity grew more in Jan than in Dec.
India’s forex reserves rose by $14.17 billion to $701.36 billion in the week that ended on 16 Jan.
SEBI has accused executives at EY (India), PwC (India), Carlyle Group (US), and Advent International (US) of breaching insider trading rules during Yes Bank’s 2022 share sale: as per media reports.
The central government approved wage revision and pension revisions for Public Sector General Insurance Companies (PSGICs), NABARD, and RBI.
Stocks Updates
BPCL: reported a net profit of Rs 7,188 crore in the Oct-Dec quarter, 88% higher from the previous year. Dividend declared: Rs 10 per share. Record date: 2 Feb.
JSW Steel: reported a net profit of Rs 2,410 crore in the Oct-Dec quarter, 235% higher from previous year.
Shriram Finance: reported a net profit of Rs 2,530 crore in the Oct-Dec quarter, 21% lower than previous year.
Adani Green: reported a net profit of Rs 5 crore in the Oct-Dec quarter, 98% lower compared to the last year.
Godrej Consumer: reported a net profit of Rs 498 crore in the Oct-Dec quarter, 0.08% lower than last year. Dividend declared: Rs 5 per share. Record date: 30 Jan.
Cipla: reported a net profit of Rs 674 crore in the Oct-Dec quarter, 57% lower than last year.
JSW Energy: reported a net profit of Rs 529 crore in the Oct-Dec quarter, 235% higher from the previous year.
Hindustan Zinc: approved issuing Rs 1,400 crore worth of non-convertible debentures via private placement in a board meeting.
Adani Enterprises: company subsidiary, ADSTL, increased its stake in Flight Simulation Technique Centre Pvt Ltd to 72.8%. The stock exchanges have asked the company to clarify media reports regarding US legal summons.
Bank of Baroda: will consider raising long-term bonds, including green infrastructure bonds, at its board meeting on 30 Jan.
Bharat Electronics: received orders worth Rs 610 crore including communication equipment, medical electronics, thermal imagers, etc.
Zydus Lifesciences: the US FDA noted 3 observations after an inspection at Unit - 2 manufacturing plant at Ankleshwar, Gujarat.
Word of the Day
Floating Interest Rate
It is an interest rate that changes according to economic conditions
It can apply to loans, credit cards, and some investment instruments like bonds.
The rate moves up or down based on a benchmark, such as RBI’s repo rate.
Example: When the benchmark rate falls, interest rates might fall. Similarly, when the rate rises, interest rates may go up.
6 Day Course
Theme: corporate debt
Day 5: Friday
One of the most crucial parts of corporate lending is the credit quality rating.
Companies are rated based on their ability to pay back the loans/debt they have taken.
Very reliable and stable companies are rated well while poor companies are rated junk.
Moody’s and S&P are two different bodies that rate companies based on their credit quality.
This is extremely important for them as the loan terms depend on the credit quality.
Poorly rated companies are asked to pay higher interest rates and returns.
Stable companies are able to benefit from lower interest rates.
This rating system is not airtight since there have been cases where well-rated companies have faltered sometimes.
This is why investing in debt or corporate bonds can be tricky for those who do not understand the space well enough.
Featured Question
Q. “When it is said the ipo is subscribed lets say 0.5 and the retail subscription is lets sau 0.18. So why is there a difference between the ipo subscribed and retail subscribed"
This is because a certain number of shares are blocked for different kinds of investors.
During an IPO, all shares are not available to all investors.
The main categories are:
Qualified Institutional Buyers (QIB): these investors are large institutional buyers.
Usually about 50% shares are kept for them.
Example of QIBs: commercial banks, mutual funds, insurance companies, provident funds, AIFs, etc.
Non-Institutional Investors (NIIs): these are individual investors, whose investment size is big (more than Rs 2 lakh). HNIs form this group.
Usually about 35% of shares are reserved for this category.
Retail Individual Investor (RII): these are regular retail investors who can apply for IPOs.
So when you hear “retail subscription was subscribed 0.5 times” it means 50% of the RII portion was subscribed.
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