Trump tariffs declared illegal, IDFC First Bank reports Rs 590 cr fraud, & more - Groww Digest
Monday, 23 February 2026
Markets opened above Friday’s closing point.
PSU bank stocks and auto stocks rose the most today. IT stocks and chemicals stocks fell the most.
Global markets: US markets rose. Asian markets showed a mixed trend. Most European markets fell (as of 6 pm IST).
News
The US Supreme Court declared the global tariffs imposed by President Trump to be illegal. After this, Trump announced 15% global tariffs under an alternative trade law. The India-US trade talks have been delayed due to this.
SEBI has proposed a comprehensive overhaul of the Portfolio Managers (PMS) regulations, to strengthen governance and investor protection.
Clean Max Enviro Energy IPO has been subscribed 0.34 times. Retail subscription: 0.02 times. IPO closes on 25 Feb.
Stocks Updates
Airtel: will invest Rs 20,000 crore to build a high-scale NBFC platform through Airtel Money to expand digital lending and financial services in India.
IDFC First Bank: identified suspected internal fraud of about Rs 590 crore involving certain Haryana government accounts at its Chandigarh branch. The company has taken actions and reported the matter to authorities. The exchange has sought clarification from the company regarding a news report on its de-empanelment for government business in Haryana.
BPCL: received a Rs 1,816.65 crore tax demand order from the Central Tax and Excise Commissioner, Kochi, which it plans to challenge.
Samvardhana Motherson: company’s 50:50 joint venture with ‘Marelli’ inaugurated a new automotive lighting manufacturing facility in Sanand, Gujarat.
Waaree Energy: a company subsidiary signed a 2.5 MW Electrolyzer-as-a-Service agreement with ‘ZFI’ for a green hydrogen project in Uttar Pradesh and signed an MoU to supply 50 MW of electrolyzers.
Hindustan Aeronautics: clarified that there was no crash of the LCA Tejas and the reported incident was a minor ground technical issue.
LTIMindtree: announced a 7-year, $100 million deal with a European MedTech company to deliver product development and support for its hearing solutions portfolio.
Adani Ports: raised Rs 1,000 crore via private placement of non-convertible debentures with a 5-year tenure.
Word of the Day
Public Provident Fund (PPF)
It is a long-term savings and investment scheme offered by the government of India
The money deposited in a PPF account, interest earned, and maturity amount are exempt from tax.
Since it is backed by the government, it is considered as low risk.
The interest rate is set by the government and compounded annually. Currently, it is 7.1%.
6 Day Course
Theme: SIF
Day 1: Monday
There are many kinds of funds available for investment: mutual funds, exchange traded funds (ETFs), alternative investment funds (AIFs), etc.
Observant investors would have noticed a new option becoming available.
SIF: Specialised Investment Fund.
This week, we will dive deep into this new category.
SIFs have a minimum investment requirement of Rs 10 lakh (per AMC).
Mutual funds allow investors to start investing with an amount as low as Rs 100.
PMS on the other hand requires at least Rs 50 lakh.
SIF bridges this gap and sits somewhere between these two products.
We explored the question "What if the Indian markets were not dependent on the US?"
Check out the full report here.
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