Markets closed higher compared to yesterday’s closing point.
Healthcare stocks and consumer durable stocks rose the most today. Only metal stocks and private bank stocks fell.
Global markets: US markets traded mixed on Monday. Most Asian markets rose on Tuesday. Most European markets rose (as of 6 pm IST).
News
The government revised the conditions for import of raw sugar. It removed the 31 October deadline to process and sell the refined product in the domestic market to a period not exceeding 2 months from date of filing Bill of Entry, as a relief to sugar importers.
The net profit of Regional Rural Banks rose to a record high of Rs 10,176 crore in FY26. Both gross and net NPAs reached all time lows of 5.30% and 2.10% respectively.
Finished steel production rose 4.70% year-on-year to 54.70 million tonnes between April and July. Consumption of finished steel grew 7.90% to 56 million tonnes in the same period.
IPO Corner
Hindustan Copper OFS was subscribed over 3.4 times by institutional investors on day 1. The government is selling up to 6% stake at a floor price of Rs 514.
Augmont Enterprises IPO was subscribed 105.78 times on day 3. Retail subscription: 30.98 times. The IPO closed for subscription.
Symbiotec Pharmalab IPO was subscribed 1.85 times on day 2. Retail subscription: 2.10 times. The IPO will close for subscription on 27 August.
Skyways Air Services IPO was subscribed 2.46 times on day 2. Retail subscription: 3.54 times. The IPO will close for subscription on 27 August.
Stocks Updates
L&T: secured a major order (worth Rs 5,000 crore to 10,000 crore) to develop three battery energy storage projects in the Middle East with a combined capacity of 6 GWh. The work also includes substations and underground grid connections.
Axis Bank: will repay the full $600 million borrowed through its Additional Tier 1 bonds carrying a 4.10% coupon on 8 September 2026, after receiving RBI approval.
Kotak Mahindra: issued $650 million of 5-year senior unsecured bonds at a 5.478% coupon rate under its $1 billion Euro Medium Term Note programme.
Hindustan Zinc: restrictions on the company under certain promoter-group financing agreements have been removed after the related loans and liabilities were fully repaid.
Vodafone Idea: in response to the exchange seeking clarification on a news report, the company said the reported Rs 53 crore income-tax refund delay is a routine tax matter and is not large enough to require a separate disclosure.
Varun Beverages: approved plans to enter the ready-to-drink and alcoholic beverages business through new wholly owned subsidiary KIVA Spirits and Company Ltd. It also approved a joint venture in Tunisia, in which Varun Beverages will hold a 75% stake, to make and distribute soft drinks, juices, water and dairy products.
Union Bank of India: issued $600 million of senior unsecured bonds through its DIFC branch. This includes $300 million of 3-year bonds at a 5.230% coupon rate and $300 million of 5-year bonds at 5.417%.
Tata Motors Passenger: partnered with Tata Communications to provide built-in 5G connectivity and connected-vehicle features for the Sierra.ev. No contract value or financial impact was disclosed.
Word of the Day
Gross Profit
It is the profit a specific product earns without accounting for indirect costs.
It is found by subtracting the direct cost of making a product (raw materials, packaging, transport, etc) from the revenue.
Other non-direct expenses are not factored in gross profit. So, office rent, non-factory salaries, marketing costs, etc are not in this calculation.
Gross profit can tell us about the core unit economics of a company.
For a more all-inclusive number, net profit is used that accounts for all other kinds of costs also.
6 Day Course
Theme: quarterly reports
Day 2: Tuesday
Quarterly report numbers are collated and prepared by the internal accounting team.
It is checked by the auditors and presented to the board for approval in the board meeting.
The company informs the exchange 2 days before the meeting.
Once the board approves this report, it is uploaded to the exchange’s website and also their own website.
With this, the quarterly report becomes public, visible to all.
From this point on, various news outlets also pick it up and circulate it.
Whenever we hear about revenue, profit/loss, growth, etc about various companies, it is mostly from these quarterly reports.
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Featured Question
Q. “Where do i invest through PMS?”
PMS or Portfolio Management Services are similar to mutual funds.
They have a minimum investment amount of Rs 50 lakh.
Investors can invest in them by visiting the individual PMS websites.
There are many investment platforms that let investors invest across different PMS — just like mutual fund platforms.
Some PMS platforms offer only PMS. Some are part of larger investment platforms that offer all kinds of services.
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Great article
Informative