ICICI Bank raises $1 billion, L&T Rs 2,500 cr-Rs 5,000 cr order, & more - Groww Digest
Friday, 24 July 2026
Markets closed lower than yesterday’s closing point and fell for the fifth consecutive session. Both indices fell over 2% this week. This may have been due to a sharp rise in oil prices as US-Iran tensions escalated.
Auto stocks and metal stocks fell the most today. Media stocks and IT stocks rose the most.
Global markets: US markets fell on Thursday. Most Asian markets fell on Friday. Most European markets rose (as of 6 pm IST).
News
India’s forex reserves rose by $1.08 billion to $676.24 billion in the week that ended on 17 July.
The government approved two additional railway lines in Karnataka and Andhra Pradesh (46 km network) with a total cost of Rs 1,264 crore.
India’s services exports rose 8.72% to $421.3 billion in FY25-26, compared to last year. Telecommunications, computer & information services, and business services contributed the most to the growth.
Indo MIM IPO was subscribed 3.07 times on day 2. Retail subscription : 1.89 times. IPO closes on 27 July.
Lohia Corp IPO was subscribed 0.59 times on day 2. Retail subscription : 1.08 times. IPO closes on 27 July.
Stocks Updates
Airtel: received a DoT penalty notice of Rs 2.06 lakh for alleged violation of subscriber verification norms in Karnataka and will not contest the penalty.
ICICI Bank: raised $1 billion through senior unsecured notes at a coupon rate of 5.459%. The notes have a 5-year tenure and will mature on 30 July 2031.
L&T: heavy engineering arm won large orders (Rs 2,500 cr - Rs 5,000 cr) in international markets. These include refinery and fertiliser projects for Dangote Group in Nigeria and Ethiopia, along with equipment orders from customers in Japan, Spain, the US, and Brazil.
Sun Pharma: Organon shareholders approved Sun Pharma’s proposed acquisition of the company. Organon will become a wholly owned subsidiary of Sun Pharmaceutical Holdings USA, subject to regulatory approvals.
NTPC: subsidiary NTPC Green Energy Ltd declared commercial operation of the first 64.76 MW capacity of the 225 MW GSECL RE Park, Khavda Solar PV Project in Gujarat.
Shriram Finance: net profit rose 59.89% year-on-year to Rs 3,452.77 crore in the Apr-June quarter.
Hindustan Zinc: net profit rose 144.81% year-on-year to Rs 5,469 crore in the Apr-June quarter.
Adani Energy: won an inter-state transmission project worth around Rs 8,500 crore in Andhra Pradesh to supply power to proposed green hydrogen and green ammonia projects in the Vizag area.
SBI Life: net profit rose 21.97% year-on-year to Rs 724.93 crore in the Apr-June quarter.
CG Power: net profit rose 16.26% year-on-year to Rs 313.01 crore in the Apr-June quarter. It also approved a Rs 35.17 crore brownfield expansion of its extra-high-voltage gas-insulated switchgear facility in Nashik.
Bank of Baroda: net profit fell 48.60% year-on-year to Rs 1,783.29 crore in the Apr-June quarter. It paid $600 million (around Rs 5,680 crore) to settle disputes with NMC Group entities. The amount was charged to the Apr-June quarter, and the related court cases were closed.
Tata Consumer: net profit rose 27.78% year-on-year to Rs 426.98 crore in the Apr-June quarter.
REC: net profit fell 6.11% year-on-year to Rs 4,192.76 crore in the Apr-June quarter. Interim dividend announced: Rs 4.25 per share. Record date: 31 July.
Aurobindo Pharma: subsidiary Apitoria Pharma Pvt Ltd approved the acquisition of an 80% stake in the contract research services business of A1 Biochem Group for $13.6 million.
Laurus Labs: net profit rose 125.49% year-on-year to Rs 367.60 crore in the Apr-June quarter.
Word of the Day
Interim Dividend
It is the dividend a company pays while the financial year is still ongoing
Companies usually announce dividends around the same time as quarterly reports.
This is opposed to the final dividend that is paid after the end of the financial year.
The final dividend does not include the interim dividends paid.
It is in addition to the interim dividends paid.
Total dividend is a sum of all interim dividends and the final dividend paid in a financial year.
6 Day Course
Theme: understanding PEG
Day 5: Friday
In the case of companies that are stable and growing consistently, it is a better idea to use a trailing PEG ratio.
In case of companies where the future growth is much greater than present growth, it makes sense to use forward PEG ratio.
Investors must keep in mind that when using forward PEG ratio, many assumptions are being made.
The future earnings, which have not yet happened, are being assumed.
Mistakes and overestimation can creep in here making calculations biased in one direction.
Many investors use both trailing and forward PEG ratios to get a better understanding of the company and its future prospects.
As with PE ratio, PEG ratio is not absolute and can mislead when the company is exceptionally good or bad.
This is why subjective analysis of a company is a must.
————
Featured Question
Q. “As a retail investor, can I short a stock listed on the BSE?”Exit load is a fee charged by mutual funds if the investor withdraws too fast.
Yes, it is possible.
Not all shares are available for shorting, though.
There might be restrictions on the stocks that can be shorted depending on the stockbroker you are using, liquidity, surveillance, etc.
But yes, to summarize, individual and institutional traders can short stocks in India.
This is possible via intra-day (for the same day).
Only shares traded in the F&O segment can be shorted beyond one trading day via SLB.
Did you like this edition?
Leave a feedback here!