India's PMI falls in Sept, ICICI Bank receives GST notice, & more - Groww Digest
Tuesday, 23 September 2025
Markets opened above yesterday’s closing point.
Nifty 50 was volatile today. It fell sharply in the first half and rose in the second half of the day and closed flat.
PSU bank stocks and metal stocks rose the most today. FMCG stocks and realty stocks fell the most.
Global markets: US markets rose and Asian markets showed a mixed trend. European markets rose (as of 6 pm IST).
News
India’s composite PMI (manufacturing + services) fell to 61.9 in Sept (vs 63.2 in Aug). This means economic activity grew, but it grew less in Sept than in Aug: as per preliminary estimates.
Anand Rathi IPO has been subscribed 0.41 times. Retail subscription: 0.53 times. IPO closes on 25 Sept.
Seshaasai Technologies IPO has been subscribed 0.99 times. Retail subscription: 1.15 times. IPO closes on 25 Sept.
Atlanta Electricals IPO has been subscribed 3.07 times. Retail subscription: 2.94 times. IPO closes tomorrow (24 Sept).
Saatvik Green Energy IPO was subscribed 6.57 times. Retail subscription: 2.66 times. IPO is closed for subscription.
Stocks Updates
Tech Mahindra: company’s UK subsidiary transferred its 26.42% stake in Surance Ltd to an associate company.
ICICI Bank: received a Rs 15.6 crore GST notice from West Bengal authorities, which it plans to contest.
ICICI Lombard: board fixed 17 Oct as the record date for a possible interim dividend to be announced in a board meeting on 14 Oct.
Indian Hotels: acquired Rs 100.80 crore worth of shares in its subsidiary ELEL Hotels via rights issue, to fund its proposed Taj Bandstand project.
Canara Bank: company subsidiary Canara Robeco AMC filed an updated DRHP with SEBI.
NTPC Green: commissioned 9.9 MW wind capacity at Bhuj through a subsidiary of its joint venture ONGC NTPC Green Private.
Word of the Day
Memorandum of Understanding (MoU)
It is a written agreement between two or more parties to work together
It outlines the main points such as goals, roles, and responsibilities of the parties, but it is not legally binding like a contract.
Governments, companies, and organisations often sign MoUs as the primary step before signing a legally binding contract.
6 Day Course
Theme: tax on shares & mutual funds
Day 2: Tuesday
Let’s first look at capital gains arising from equity (shares or equity mutual fund investments).
This is categorised into short term and long term.
Short Term = Investment bought and sold in a period less than 1 year
Long Term = Investment bought and sold after a period of 1 year
All equity Short Term Capital Gains (STCG) are taxed at 20% of the gains.
If your total income is less than Rs 4 lakh, then you can get an exemption on the short term gains till income + short term capital gains = Rs 4 lakh.
Other than this case, there is no exemption from paying STCG tax.
This 20% STCG tax applies to equity mutual fund investments and shares that are listed on the share markets.
We will talk about LTCG tomorrow.
Featured Question
Q. “How to benefit from day today changing NAV of mutual funds investment”
Mutual funds by their nature are designed to be held for a long term.
Since the prices of assets a mutual fund owns changes every day, the NAV value changes every day.
Many investors feel like they can quickly invest and withdraw and take advantage of these price changes.
This is usually not a good idea.
Most mutual funds have an exit load. This is a penalty you have to pay if you withdraw too early. It varies from mutual fund to mutual fund.
This alone makes it very unattractive to use mutual funds to make short term trades.
To add to that, mutual fund investments and withdrawals usually take 2-4 business days.
From a trading perspective, a lot can change in those days.
Hence, mutual funds are not ideal for short term trades. They are much better suited for long-term investing.
If you do not want to trade in shares and want to use funds, you can explore ETFs or Exchange Traded Funds.
ETFs are traded directly on the share market exchanges, allowing you to buy/sell instantly.
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