RBI sold $8.9 billion in April, Grasim invests Rs 2,880 cr in Aditya Birla Capital, & more
Tuesday, 23 June 2026
Markets opened below yesterday’s closing point.
Pharma stocks and healthcare stocks rose the most today. Metal stocks and IT stocks fell the most.
Global markets: Most US markets and Asian markets fell. Most European markets fell (as of 6 pm IST).
News
India’s manufacturing PMI fell to 57.4 in June (vs 59.3 in May) as per preliminary estimates. Services PMI fell to 54.5 (vs 55.0 in May). Composite PMI fell to 57.3 (vs 59.8 in May). This means that economic activity grew less in June than in May.
The RBI sold a net $8.9 billion in April to protect the rupee amid West Asia war tensions, while physical gold holdings remained unchanged: RBI
Waterways Leisure Tourism IPO has been subscribed 0.19 times. Retail subscription: 0.99 times. IPO closes on 25 June.
Turtlemint Fintech Solutions IPO was subscribed 1.20 times. Retail subscription: 1.07 times. IPO is closed for subscription.
Stocks Updates
Airtel: completed the acquisition of an additional 16.3% stake in Airtel Africa plc from Indian Continent Investment Ltd (ICIL), increasing its effective stake to around 79%.
Infosys: expanded its multi-year partnership with GlobalFoundries, a semiconductor manufacturer, to provide AI-led managed services across application, infrastructure, data and service desk operations.
NTPC: subsidiary PVUNL declared commercial operation of Unit-2 (800 MW) of the Patratu thermal power project from 25 June. Following this, NTPC Group’s installed capacity increased to 90,857 MW.
HCL Tech: partnered with Circles and GreySkies under TM Forum’s Catalyst Program to develop an AI-powered multi-agent framework for network operations and customer experience.
Bajaj Auto: subsidiary Bajaj Auto Credit Ltd allotted and listed NCDs worth Rs 500.19 crore on NSE through private placement basis.
Hindalco: subsidiary East Coast Bauxite Mining Company Pvt Ltd was struck off and dissolved following voluntary closure.
Grasim: invested Rs 2,880 crore in Aditya Birla Capital through a preferential issue, increasing its stake from 52.27% to 52.30% on a fully diluted basis.
Aditya Birla Capital: allotted 11.24 crore equity shares through a preferential issue, raising around Rs 4,000 crore from Grasim Industries, Suryaja Investments and the International Finance Corporation (IFC).
Wipro: expanded partnership with Palo Alto Networks to offer AI-driven managed detection and response (MDR) cybersecurity services. The company also said the acquisition of select customer contracts of Alpha Net Consulting LLC is now expected to be completed by 30 Sept instead of 30 June.
Vodafone Idea (Vi): allotted 430 crore warrants to the promoter group entity Suryaja Investments, an Aditya Birla Group entity, at Rs 11 per warrant, raising Rs 1,182.5 crore through the upfront payment.
PFC: subsidiary Bihar Infrapower Ltd was struck off and dissolved by the Ministry of Corporate Affairs following the closure of the Banka UMPP project.
Word of the Day
PMI (Purchasing Managers' Index)
It is an economic indicator that measures business activity in the manufacturing and services sectors
The PMI is based on monthly surveys of purchasing managers, who provide insights on factors such as new orders, production, employment, and business activity.
A PMI above 50 indicates expansion in business activity, while a PMI below 50 suggests contraction. A PMI of 50 indicates no change.
PMI provides an early indication of the economy’s direction before official GDP data is released.
Example: if the PMI has dropped from 58 to 53, business activity is still expanding (because it’s above 50), it has just expanded at a slower pace than last month (and vice versa).
6 Day Course
Theme: Theme: crucial points in IPO
Day 2: Tuesday
The shares that are sold during an IPO are of two types.
Fresh issue and Offer for Sale (OFS).
In case of a fresh issue, the company is literally creating fresh shares and selling in the IPO.
This means all the money that is raised in the IPO will go directly to the company.
It can use this money for the company’s growth, operations, future expansion, debt clearing, etc.
On the other hand OFS is the sale of existing shares by existing shareholders.
In this case, the money does not go to the company, it goes to the shareholders.
This allows early-stage investors to sell their shares and exit the company.
During IPOs, many companies do a mix of fresh issues and OFS.
Sometimes, all shares are fresh issues and sometimes, all are OFS.
Investors like to keep an eye on this because it can hint about how the company thinks about its own future and what its early investors plan.
Featured Question
Q. “how do you calculate returns on a mutual fund in which you invested different amounts at different times example- I invested 5K for the first three months and further invested 10K for 6 months”
A public company is one of which you can buy shares in the share markets.
This can be done using XIRR.
It even allows you to factor in withdrawals in between.
The formula to calculate XIRR is a bit complicated. It is far easier to calculate the XIRR on Excel or Google Sheets.
There are readymade formulas you can use to do the same.
In this, you need to give the various different investment/withdrawal amounts and their respective dates, along with the current value of the investment.
Many investment platforms automatically calculate the XIRR and show it to investors so the investors need not do the calculation themselves.
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