SBI's Rs 8,077 cr dividend to govt, L&T gets significant order, & more
Monday, 09 June 2025
Markets opened significantly above Friday’s closing point.
Nifty 50 was volatile immediately after opening. It then stayed in a range and closed in the green.
All sectors’ stocks rose today except for the realty stocks. PSU bank stocks and oil and gas stocks rose the most.
Global markets: US markets and most Asian markets rose. European markets closed in red.
News
The Indian government received a dividend of Rs 8,076.84 crore from SBI for FY 2024-25.
Japan’s GDP contracted 0.2% year-on-year in the Jan-March quarter. It grew 2.2% in the previous quarter.
China’s annual inflation rate remained unchanged for the 3rd time at -0.1% in May.
Continental, a tyre making company, is planning to invest Rs 100 crore in India to expand production capacity for tyres for passenger vehicles and light trucks.
Stocks Updates
L&T: received a significant order from JSW Energy for the execution of the Bhavali Pumped Storage Project in Maharashtra. A significant order for L&T ranges from Rs 1,000 crore to Rs 2,500 crore.
NTPC: declared 193 MW of its 245 MW Nokh Solar PV Project (Plot-3) in Rajasthan commercially operational.
HDFC: dismissed an FIR against its MD & CEO by the Mehta family of Splendour Gems Ltd as frivolous and malicious, alleging it was an attempt to block the recovery of overdue loans of Rs 65.22 crore.
Infosys: the DGGI closed all proceedings against the company regarding non-payment of IGST for FY 2017-18 to FY 2021-22.
GAIL: successfully discharged its first LNG vessel, GAIL Bhuwan, at the Dabhol LNG Terminal.
Word of the Day
Cash Reserve Ratio (CRR)
It is the percentage of a bank’s total deposits that it must keep with the RBI
This money cannot be used for lending or investment by the bank. It sits with the RBI as reserves.
CRR is a monetary policy tool used to manage inflation.
When inflation is high, the RBI can increase the CRR.
Banks will have to keep more in reserves with the RBI and thus have less money to lend, helping reduce inflation.
On the other hand, the RBI can reduce the CRR to ensure more money for lending, boosting economic activity.
6 Day Course
Theme: most common money-related scams
Day 1: Monday
This week, let’s talk about the most common ways people in India lose money to scams.
One of the most common ways is phishing scams.
In phishing scams, the scammer is able to get information about you in some way or the other — your PIN, password, OTP, etc.
Common ways include calling on the phone and pretending to be from a bank, or sending SMS that looks official, or websites that look like the original website but are actually meant to scam.
It is always a better idea to double-check calls, SMS, emails, or websites that requires you to enter sensitive details.
Most banks and institutions do not ask for sensitive details over the phone.
Always check the source of the SMS or email — there might be small spelling errors in the sender’s name that indicate phishing.
The same goes for the links of the websites you visit.
Featured Question
Q. “What stream of education is required to become a Trader? And Which is the best institution in the world?”
There is no such formal requirement to become a trader. Anyone can become a trader.
Different trading strategies require different skills. Being quick with numbers is one requirement.
Many traders come from a finance background — MBA, CA, CFA, etc.
But that’s not always the case. Many are engineers, mathematicians, etc.
Many people trade in addition to their main occupations so their education can be extremely varied.
This is because many traders learn from experience and not from a formal course.
Hence, it is hard to say which institution is the best for becoming a trader.
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