Rs 3,942 cr digital infrastructure project, Bajaj Finance’s Rs 498 cr NCD, & more

Tuesday, 18 August 2026

Aug 18, 2026

Markets closed lower compared to yesterday’s closing point.

IT stocks and realty stocks fell the most today. Media stocks and auto stocks rose the most.

Global markets: US markets fell on Monday. Asian markets traded mixed on Tuesday. Most European markets fell (as of 6 pm IST).

News

Regional Rural Banks’ gross loans rose 10.30% to Rs 578,349 crore in FY26 compared to Rs 524,163 crore in the previous year.
DoT, Government of Chhattisgarh, CSBIL, BSNL and CHiPS signed an agreement worth Rs 3,942 crore for implementation of BharatNet program in the state to strengthen digital infrastructure and expand broadband connectivity.
The government imposed a minimum import price of Rs 34,000 per tonne on clear float glass with 4mm to 12 mm thickness for a year to protect domestic manufacturers from cheaper imports. Imports below this threshold will face restrictions.

IPO Corner

Horizon Industrial Parks was subscribed 0.24 times on day 2. Retail subscription: 0.43 times. The IPO will close for subscription on 19 August.
Lalithaa Jewellery Mart was subscribed 3.07 times on day 2. Retail subscription: 2.78 times. The IPO will close for subscription on 19 August.
Milky Mist listed at Rs 165 on NSE, a premium of 17.86% over its issue price and closed 29.64% higher.

Stocks Updates

ICICI Bank: raised $750 million through a 5-year senior unsecured bond issue at a 5.417% coupon rate via its IFSC Banking Unit, maturing in August 2031.
Bajaj Finance: allotted secured NCDs worth Rs 498.22 crore on a private placement basis at a 7.79% coupon, maturing in July 2036.
ONGC: subsidiary ONGC Videsh got US approval to carry out oil and gas operations at San Cristobal and Carabobo-1 assets in Venezuela. It also commissioned gas evacuation facilities at Khoraghat, Assam.
Samvardhana Motherson: NCLT approved the buyout of the 7.04% minority stake in Motherson Technology Services Ltd for Rs 33.52 crore, after which it will become fully owned by its parent company.
DLF: subsidiary DLF Info Park Developers (Chennai) Ltd will acquire a 26.97% stake in Balang Renewables Pvt Ltd for Rs 4.20 crore to meet captive renewable power requirements.
Varun Beverages: completed merger of step-down subsidiary Twizza (Pty) Ltd into its South African holding company The Beverage Co (Pty) Ltd.
Lenskart Solutions: incorporated step-down subsidiary Wenzhou Framekart Trade Co., Ltd in China for trading and procurement of spectacle frames and optical products.
One 97 Comm (Paytm): Resilient Asset Management will sell up to a 4.98% stake in Paytm via a block trade.
Mankind Pharma: completed realignment of security for its NCDs. The shares it had pledged as security in Bharat Serums and Vaccines Ltd (38.68% stake) have now been released.
Manipal Health: will acquire Kinder Women’s Hospital and Fertility Centre, a 100-bed facility in Bengaluru, for Rs 130 crore; the hospital reported FY26 revenue of about Rs 20.75 crore.

Word of the Day

Delta

It is the difference between two numbers

Say one mutual fund has given a return of 14% per annum over the last 10 years.

And another one has managed to give 16% per annum over the same period.

The difference in their returns is (16-14)% = 2%.

So we can say there is a delta of 2% between the two mutual funds.

6 Day Course

Theme: opex and capex
Day 2: Tuesday

Practically speaking, all the money a company spends can be categorised as either opex or capex.

Debt principal payment, dividends, and buybacks are not counted in capex or opex.

These expenses are made using the cash a company has — the profit money that the company has.

Some tax payments like payroll taxes, property tax, sales tax, etc are a part of the day to day operations of a company and hence are counted under opex.

Income tax applies on the cash that is left after paying all opex.

All capex spendings take place from the cash a company has.

Which means, dividends, buybacks, and capex all come from the same pool of money — cash reserves.

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