Daily Groww Digest 25 August 2023 --------------------- | Groww Digest
Daily Groww Digest
25 August 2023
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Sensex 64,886.51 ▼ 0.56%
Nifty 19,265.80 ▼ 0.62%
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All sectors closed in the red today. PSU bank and realty stocks fell the most.
All other Asian markets closed in the red as well.
Japan and Taiwan markets fell the most.
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More...
+Vishnu Prakash R Punglia IPO has been subscribed 10.63 times so far. Retail investors have subscribed 12.88 times. The IPO is open till 28th Aug.
+Zepto has raised $200 million and is now a unicorn (over $1 billion valuation).
+Rishabh Instruments IPO will be open between 30 August to 1 Sept. Price band is Rs 418-441 per share.
+Forex reserves fell by $7.28 billion to $594.90 billion in the week that ended on 18 Aug.
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Stocks in the news
Sapphire Foods: Sapphire Foods Mauritius sold 16.25 lakh shares of the company at an average price of Rs 1,355 per share.
Bharat Electronics: Ministry of Defence approved buying of electronic warfare suite from Bharat Electronics.
Jio Financial: removal from BSE indices has been postponed by another 3 days to 1st Sept.
Power Finance: will provide a Rs 4,527.68 cr loan to set up a 1,320 MW project in Raghunathpur (West Bengal).
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Word of the Day
Litigation Financing
Litigation financing is when a third party (usually a company) provides you with money to cover your legal costs.
The company receives a share of the potential winnings if your case is successful.
Example: Let's say you were in a car accident and believe it wasn't your fault.
You want to sue the other driver for compensation, but you don't have the funds to hire a lawyer, pay court fees, and other related expenses.
A litigation financing company reviews your case and believes you have a strong chance of winning.
They offer you Rs 1 lakh to cover all the legal costs, and in return, they'll take a portion (let's say 20%) of any compensation you receive if you win the case.
It is important to carefully read and understand the terms of the financing agreement, as the company's share can sometimes be quite significant.
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6 Day Course
Theme: term insurance
Day 5: Friday
Many insurance takers are attracted towards insurance that also serve as investments.
ULIP is one such example.
In this, a part of the premium amount is invested in a scheme and offered as returns.
In most cases, investments and insurance should not be mixed.
Insurance is meant to cover you in case of a negative outcome. It is better to take insurance that serves that purpose properly.
Investments should ideally be done separately and purely for investing.
Mixing these two often leads to poor insurance as well as poor investment.
Missed last week's course? You can download the course PDF - click to download: https://bit.ly/3qAoLcx
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Featured Question
“How is dividend reinvested into mutual fund. Generally, I never see additional units getting added to my folio in my email in addition to my SIP. So, how exactly is dividend amount added to my mutual fund and where can I check how much dividend is reinvested?”
Investors do not get additional units.
The value of the exiting units goes up. Which means, the NAV value goes up whenever dividend is added.
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That's it for now. See you tomorrow!
