SEBI proposes new IPO rules, ITC profits up 3%, & more — Daily Digest
Friday, 1 August 2025
Markets opened below yesterday’s closing point.
Nifty 50 fell throughout the day. Main reasons for the fall were US tariffs on India, fall in large pharma stocks, weak global markets, and FII selling.
All sectors’ stocks fell today except for the FMCG stocks. Pharma stocks and healthcare stocks fell the most.
Global markets: US and European markets fell. Most Asian markets also fell.
News
India's gross GST collections increased 7.5% year-on-year to Rs 1.96 lakh crore in July (vs Rs 1.85 lakh crore in June). Net GST collections rose 1.7% to Rs 1.69 lakh crore.
India’s service exports rose 12% year-on-year to $32.1 billion in June (vs $32.5 billion in May). Imports rose 5% to $15.9 billion (vs $16.7 billion in May).
SEBI proposed significant changes to India’s IPO framework. It suggested reducing the retail investor quota in large IPOs (above Rs 5,000 crore) from 35% to 25% and increasing the allocation for qualified institutional buyers (QIBs) from 50% to 60%.
India’s manufacturing PMI rose to 59.1 in July (vs 58.4 in June). This means manufacturing activity rose more in July than in June.
India’s foreign exchange reserves rose by $2.7 billion to $698.19 billion in the week that ended on 25 July.
The Euro Area’s inflation rate was 2% year-on-year in July, the same as in June. Core inflation (excluding volatile items) also stayed unchanged at 2.3%.
Excelsoft Technologies got SEBI’s approval for a Rs 700 crore IPO.
NSDL IPO was subscribed 41 times. Retail subscription: 7.73 times. IPO closed for subscription.
Sri Lotus Developers & Realty IPO was subscribed 69.14 times. Retail subscription: 20.28 times. IPO closed for subscription.
M&B Engineering IPO was subscribed 36.20 times. Retail subscription: 32.55 times. IPO closed for subscription.
Stocks Updates
ITC: net profit rose 3% year-on-year to Rs 5,244 crore in the April-June quarter. The board also approved the amalgamation of its wholly owned subsidiaries, Sresta Natural Bioproducts and Wimco Ltd, into ITC.
Adani Power: net profit fell 13% year-on-year to Rs 3,385 crore in the April-June quarter. The board approved a stock split of every 1 share held into 5 equal shares.
Tata Power: net profit rose 9% year-on-year to Rs 1,060 crore in the April-June quarter.
Apollo Hospitals: company subsidiary, Apollo Healthco, paid Rs 4.96 crore to settle an RBI rule violation.
Samvardhana Motherson: formed a 50:50 joint venture with Taiwan’s ‘Macauto’ to manufacture advanced sunshade systems for vehicles in India.
Waaree Energies: started operations at its 1.80 GW solar module manufacturing facility in Navsari, Gujarat.
Suzlon: received a 381 MW wind energy order from Zelestra (a global renewable energy company) for its first FDRE project across Maharashtra, Madhya Pradesh, and Tamil Nadu.
L&T: received a large order from Hindustan Zinc to build a 250 KTPA zinc processing facility at Debari Smelter, Rajasthan. A large order for L&T ranges from Rs 2,500 crore to Rs 5,000 crore.
Reliance: fixed 14 August as the record date for its Rs 5.5 per share final dividend announced for FY 2024-25.
Word of the Day
Remittances
It is the money sent by people working abroad back to their families in the home country
For developing economies, remittances are an important source of household income and foreign income for the country.
These funds can directly improve living standards and also boost consumer spending in the local economy.
India is the largest recipient of remittances in the world, with inflows of more than $120 billion (in 2024). This is followed by Mexico and China.
Example: a person working in the gulf countries, sends a part of their salary every month to their family in India. This transfer of money is counted as a remittance to India.
6 Day Course
Theme: quant investing
Day 5: Friday
Types of quant investing:
Factor investing models:
In this, the model is designed to keep track of certain numbers and metrics.
Example, someone could set up a model to buy stocks whose PE ratio falls below a certain number.
Momentum models:
These models try to use momentum, which means, they start buying stocks that are rising, and selling stocks that are falling.
Arbitrage models:
These models notice price differences of the same assets on different exchanges and buy or sell to make money from the difference.
These are some common models. There are many models that are more sophisticated and are kept secret.
Featured Question
Q. “My wife is nominee in my MF investment. Can she be my legal heir after me to own all my investment. I have two adult children also.”
Nominee is only the custodian or caretaker.
To inherit the shares and mutual funds, a person needs to get a succession certificate or legal heir certificate made.
This needs to be submitted to the mutual fund company and/or investment platforms to inherit the shares and mutual funds.
If the deceased person had a registered will made mentioning the inheritorʼs name and details, the inheritance process becomes much easier and smooth.
Not adding nominees makes it much harder.
So, please add nominees. If the person dies, the legal heir certificate or succession certificate will get made much more easily.
In no case is the transfer of shares and mutual funds automatic. They all involve some certificates, affidavits, and forms.
These days nearly all investment platforms and banks strongly encourage you to add nominees. The nominees can be edited after being added also.
Investors can choose who will inherit their wealth after their death. They can add one or multiple persons and also allocate different percentages while adding the nominees.
In the case of multiple inheritors, it is strongly advised to get a registered will made as it reduces the chances of disputes.
If the person wants to change the inheritors or their allocation percentages, the will can be remade/edited.
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