Daily Groww Digest 8 Sept 2023 --------------------- Se | Groww Digest
Daily Groww Digest
8 Sept 2023
---------------------
Sensex 66,598.91 ▲ 0.50%
Nifty 19,819.95 ▲ 0.47%
---------------------
Realty and financial services stocks rose the most today.
Media and healthcare stocks fell the most.
All other Asian markets closed in the red.
---------------------
More...
+Over 31 lakh demat accounts were opened in August, the highest since Jan 2022.
+Jupiter Life Line IPO was subscribed 63.72 times. Retail investors subscribed 7.73 times.
+EMS IPO has been subscribed 3.76 times. Retail investors have subscribed 4.81 times. IPO open till 12 Sept.
+RBI announced that it will discontinue incremental cash reserve ratio (I-CRR) in a phased manner.
+RR Kabel IPO will open on 13 Sept. Price band is Rs 983 - Rs 1,035 per share.
+Balaji Speciality Chemicals has cancelled its IPO application process.
+A bankruptcy court has admitted insolvency resolution plea against Mumbai-based quick service restaurant (QSR) chain Goli Vada Pav Pvt Ltd.
---------------------
Stocks in the news
Tejas Networks: received an advance of Rs 750 cr from TCS.
Reliance: Nvidia has inked partnerships with Reliance and Tata Group to bring advanced AI technology to India.
IRCTC: The Ministry of Railways has authorized the company to cater to full-tariff coaches or trains.
---------------------
Word of the Day
Hedge Funds
A hedge fund is a type of institutional investor (similar to mutual funds).
Hedge funds are of many different types. Each uses different strategies to invest and generate returns for their investors.
Regular retail investors are not allowed to invest in them due to their high-risk nature.
Hedge funds investments are most commonly made by rich individuals and other institutions like pension funds, banks, etc.
---------------------
6 Day Course
Theme: finance certifications
Day 5: Friday
As you would imagine, there are many finance-related certifications in the world.
Many of the global-level financial certifications are also valid in India.
Example: Financial Risk Manager Certification.
People with this certification are employed in roles where they manage risks relating to liquidity, credit, and markets.
Other examples: Association of Chartered Certified Accountants (ACCA), Certified Management Accountant (CMA), Chartered Financial Planner (CFP), etc.
Some of these certifications are fairly easy and can be cleared with a short period of preparation.
Many people actually take these exams simply to gain the knowledge that is required to clear these exams — with the only intention of handling their own finances better.
Missed last week's course? You can download the course PDF - click to download: https://bit.ly/45x3yiF
---------------------
Featured Question
“In the question asked on 7th September, for moving money between funds for same AMC, isn't "switch" an option as well?”
Even the switch option in mutual funds is technically a sell-and-buy transaction.
When you ‘switch’ from one mutual fund to another mutual fund, you are:
-selling your investments in one mutual fund
-using this money to invest in another mutual fund
Even in this case, you will have to pay taxes (if applicable).
---------------------
That's it for now. See you tomorrow!
