Putin to visit India, Reliance buys stake in UK-based cricket team, & more - Groww Digest
Thursday, 4 December 2025
Markets opened below yesterday’s closing point.
IT stocks and realty stocks rose the most today. Media stocks and consumer durables stocks fell the most.
Global markets: US markets and most Asian markets rose. European markets rose (as of 6 pm IST).
News
SEBI introduced a single window gateway, SWAGAT-FI, to make it easier for low risk foreign investors to participate in the Indian markets.
Russian President Putin will be visiting India for the first time since 2021 to discuss economic and defence ties.
Meesho IPO has been subscribed 7.97 times. Retail subscription: 9.14 times. IPO closes tomorrow (5 Dec).
Aequs IPO has been subscribed 11.10 times. Retail subscription: 32.92 times. IPO closes tomorrow (5 Dec).
Stocks Updates
Reliance: bought 49% of the UK cricket team ‘Oval Invincibles’ for GBP 60.27 million, joining Surrey Cricket Club as co-owners and rebranding the team as ‘MI London’ from 2026.
Shriram Finance: received shareholders’ approval to issue debentures up to Rs 35,000 crore on a private placement basis.
JSW Steel: announced a strategic deal with Japan’s JFE Steel to form a 50:50 joint venture for Bhushan Power & Steel’s steel business, valuing it at Rs 31,500 crore.
NHPC: test-synced the 250 MW Unit-2 of the 2,000 MW Subansiri project to the national grid, with commercial operation expected to begin in Dec 2025.
Vedanta: received NCLT approval to acquire bankrupt cable-maker Incab Industries for Rs 545 crore, gaining full control and expanding into copper and aluminium products.
Word of the Day
Callable bond
It is a bond that the issuer can pay off before the maturity date
Normally, a bond pays interest for a fixed period till its date of maturity.
In a callable bond, the issuer may choose to pay off the bond early, often when interest rates decline.
This helps the issuer save on interest costs.
For investors, this means some uncertainty about future interest payments.
To compensate for this risk, callable bonds usually offer higher interest rates than similar non-callable bonds.
6 Day Course
Theme: understanding PE ratio
Day 4: Thursday
Different companies’ future growth potential is different.
Companies with high capital expenditures tend to grow slower. Companies that lack such expenses tend to grow much faster.
Because of this reason, the PE ratios seen in stocks of different industries also vary.
For example, in case of a mining company, the PE ratio of 40 might be considered too high. But in the case of internet tech companies, it might be seen as fair.
In fact, in the case of some very fast growing companies, the PE ratio might be negative — meaning the company is not making profits.
Some high-growth early stage companies run in losses initially.
In addition to that, a company’s profits or earnings may be very low in certain quarters due to temporary reasons. In those quarters, the PE ratio will appear very high.
The opposite can also happen. In some quarters, a company might make a very high earning that is temporary and will not repeat. In those quarters, the PE ratio will appear very low.
Both these cases can be very misleading.
Featured Questions
“Why there are so many tax penalty, and company are ready to challenge it, do they really can control system? Will they really pay this big amount?”
In the case of companies, there are many kinds of revenues/incomes.
Many times, different sources of revenues/incomes are taxed differently. The categorisation might be vague.
This is one common reason for tax disputes.
The company might say it has paid tax according to one rule while the tax department might say it should be taxed based on a different rule.
Such disputes go to court and get discussed.
The conclusion of these cases is not always in one direction. Sometimes, the company wins and sometimes the tax department wins.
Many times investigations reveal that both sides are inaccurate and the tax amount lies somewhere between what both of them claim it to be.
Such tax disputes are common in many major countries and are resolved similarly in courts.
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