Markets opened below yesterday’s closing point.
Consumer durables stocks and metal stocks rose the most today. IT stocks and realty stocks fell the most.
Global markets: US markets fell. Most Asian markets showed a mixed trend. European markets rose (as of 6 pm IST).
News
India’s retail inflation rate rose to 2.75% in Jan (vs 1.3% in Dec) after the change in the CPI base year.
The Defence Acquisition Council (DAC) has approved around Rs 3.60 lakh crore worth of capital acquisition proposals to boost combat readiness across the armed forces.
The central government signed a Rs 2,312 crore contract with HAL to supply 8 Dornier 228 aircraft to the Coast Guard.
Stocks Updates
Hindustan Unilever: net profit rose 121% year-on-year to Rs 6,607 crore in the Oct-Dec quarter. The company approved acquiring the remaining 49% stake in OZiva for Rs824 crore to make it wholly-owned, and selling its 19.8% stake in Nutritionalab for Rs 307 crore.
Adani Power: incorporated a wholly-owned subsidiary, Adani Atomic Energy Ltd, to explore nuclear power generation in India.
Power Grid: was declared the successful bidder to develop a Maharashtra intra-state transmission project, including a 765/400 kV substation and transmission lines.
Hindustan Aeronautics: net profit rose 30% year-on-year to Rs 1,867 crore in the Oct-Dec quarter. Dividend declared: Rs 35 per share. Record date: 18 Feb.
Hindalco: net profit fell 45% year-on-year to Rs 2,049 crore in the Oct-Dec quarter.
Muthoot Finance: net profit rose 102% year-on-year to Rs 2,804 crore in the Oct-Dec quarter.
Indian Hotels: net profit rose 55% year-on-year to Rs 903 crore in the Oct-Dec quarter.
Word of the Day
Foreign Portfolio Investment
It is when foreign investors invest in financial assets of a country
These can be assets like stocks, bonds, mutual funds, etc.
Unlike FDI, FPI investors do not get ownership or control of the companies.
It brings capital into the country and supports financial markets.
However, it can be risky, as foreign investors can quickly pull out if market conditions change.
6 Day Course
Theme: how ETFs work
Day 4: Thursday
ETFs have fund managers. But they don’t buy or sell assets.
Their task is different in case of ETFs.
They track index changes (since they can change time to time) to ensure the ETF matches the index.
Handling corporate actions like dividends, buybacks, splits, etc.
Minimising tracking error is another core functionality they handle.
In addition to this, they are also responsible for reducing the costs and taxes.
This shows up as lower expense ratio.
Featured Question
Q. “Can stock market movements ever be predicted accurately using AI and machine learning?”
Many people have tried and failed.
Stock market movements depend on what is happening right now. The news. The developments.
People at the moment judge how the updates will affect a stock’s future.
No AI or machine learning can predict what is going to happen. They can only evaluate the past and see patterns.
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