Markets opened above Friday’s closing point.
All sectors’ stocks rose today. Pharma stocks and consumer durables stocks rose the most.
Global markets: most US markets and most Asian markets rose. Most European markets rose (as of 6 pm IST).
News
India and New Zealand have signed a Free Trade Agreement to boost trade by reducing tariffs and improving market access.
The RBI has cancelled the banking licence of Paytm Payments Bank due to regulatory non-compliance and governance issues.
Stocks Updates
L&T: subsidiary, L&T Realty Properties, acquired 100% stake in International Green Scapes, Delhi, gaining 20 acres land in Gurugram for real estate development.
Sun Pharma: will acquire 100% of Organon & Co in an all-cash deal valued at ~$11.75 billion to expand global pharma business, subject to regulatory and stockholder approvals.
UltraTech: net profit rose 20.17% year-on-year to Rs 2,982.76 crore during the Jan-March quarter. Dividend approved: Rs 240 per share.
Polycab: incorporated a wholly owned subsidiary, Polycon Infra Projects Pvt Ltd, to undertake EPC projects in the power distribution, transmission, and telecom sectors.
Zydus Lifesciences: received DCGI approval to start two Phase III trials of anti-malarial drug Zintrodiazine.
TCS: signed two MoUs with Siemens Energy AG and Siemens Energy India Ltd for building AI infrastructure. Siemens Energy India will also support TCS’s AI data centre business with power and grid solutions.
Axis Bank: net profit rose 1.7% year-on-year to Rs 7,602.63 crore in the Jan-March quarter.
Varun Beverages: net profit rose 20% year-on-year to Rs 872.35 crore in the Jan-March quarter. Dividend announced: Rs 0.50 per share, with 1 May as the record date.
Word of the Day
Market Capitalisation
It is the total value of a company’s shares on the stock market.
Market Cap = Share Price × Total Number of Shares
It helps investors compare companies. The categorization of large cap, mid cap, and small cap companies is based on their market cap.
Example: if a company has 10 crore shares and each share is Rs 100,
Market Cap = Rs 100 × 10 crore = Rs 1,000 crore.
The market cap changes with the share price.
6 Day Course
Theme: fund manager role
Day 1: Monday
Since we talk about mutual funds, it is inevitable we ask about the people managing these funds.
This week’s course is about fund managers, and everything we might want to know about them.
Most fund managers start off as equity research analysts. Or, as credit analysts.
This is a starting role available to fresh-out-of-college graduates. Most would spend a few years in a role like this.
The next step would be that of a senior analyst which would last anywhere from 4-8 years.
At this stage the person has ~10 years of work experience as a senior analyst.
Then they can be promoted to co-fund manager where a fund manager with more experience would manage a fund alongside them.
A role like this would usually last about 8-10 years after which they may be promoted to a fund manager role.
Many AMCs skip the co-fund manager role and instead have longer periods of analyst and senior analyst roles.
This indirectly means that a fund manager at any time would have many analysts, senior analysts, and 1-2 co-fund managers in his or her team.
This is a common path for fund managers though there are a few other paths to fund manager roles too.
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