Daily Groww Digest 6 Sept 2023 --------------------- Se | Groww Digest
Daily Groww Digest
6 Sept 2023
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Sensex 65,880.52 ▲ 0.15%
Nifty 19,611.05 ▲ 0.18%
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FMCG and pharma stocks rose the most today.
PSU bank and realty stocks fell the most.
Asian markets: China and Japan rose while Hong Kong and Taiwan fell.
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More...
+OPEC+ countries (Saudi Arabia, UAE, etc) will continue to reduce oil output.
+The Indian government approved a Rs 3,760 cr Viability Gap Funding for creating battery energy storage system.
+Ratnaveer Precision IPO was subscribed 93.99 times. Retail investors subscribed 54 times.
+Jupiter Life Line IPO has been subscribed 0.88 times. Retail investors have subscribed 1.12 times. It is open till 8th Sept.
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Stocks in the news
Jio Financial: will be removed from Nifty indices from 7 Sept.
NBCC: won a project worth Rs 2,000 cr from the Kerala State Housing Board.
Bikaji Foods: Lighthouse India Fund III sold 1.3% stake in the company.
Tata Power: Tata Power Renewable Energy will set up a 12 MW solar project for Tata Motors in Maharashtra.
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Word of the Day
Rally
When a lot of money is flowing into the stock markets and is driving stock prices higher, it is known as a stock market rally.
A rally may indicate the optimism of investors.
A share price rally need not just occur when the markets are in a bullish trend. It can also be seen when the market is going bearish.
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6 Day Course
Theme: finance certifications
Day 3: Wednesday
CFA. Chartered Financial Analyst.
This is a global-level course. It is quite lengthy and requires a fairly long preparation period.
There are 3 levels of the CFA exam. It deals with topics like asset management, portfolio management, valuation, etc.
It is not mandatory, but still, many Indian students are opting for this course if they aspire to work in banking, financial sector, investment management, fintech, and consulting.
People who attempt the CA and NISM certifications mostly do so to work directly with clients.
CFA aspirants mostly attempt the exam to improve their chances of getting high paying job roles.
Missed last week's course? You can download the course PDF - click to download: https://bit.ly/45x3yiF
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Featured Question
“How to calculate the depreciation of money? For example, if I want to know the value of today's 10 Crores after 30 years, how should I calculate?”
Over time, the buying power of money reduces. This is what depreciation means.
Example:
10 years ago:
1 litre milk = Rs 40 per litre
Today:
1 litre milk = Rs 50 per litre
So here, the buying power of Rupee has reduced.
This means, things getting expensive cause the depreciation of the Rupee.
Or, in other words, inflation causes depreciation.
So, for example, if the rate of inflation is 5% in one year, Rs 100 will be worth Rs 95 next year (100 - 5 = 95).
You want to calculate the value of Rs 10 cr in 30 years. Let’s assume the inflation rate is 6%.
Now, use the compound interest formula and take the rate of growth as -6%.
You will get:
Today: Rs 10 cr
After 30 years: Rs 1.56 cr
(Taking 6% inflation).
People usually do the opposite calculation. They find out how much something will cost in the future.
If you search online for ‘inflation calculator’, you’ll get many websites that help you calculate the future price of something — if you don’t want to do the maths yourself.
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That's it for now. See you tomorrow!
