Groww Digest

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Indian mutual funds have been able to give higher returns than index funds. In the west, a huge number of investors have completely switched to index funds (passive investing). --------------------- Featured Question Q. “Isn't the down side capture ratio same as the beta of fund?” They are similar but not the same. The downside capture ratio tells us about how a mutual fund performs compared to the index during bear markets. We explained how it is calculated yesterday. Beta aims to tell us more about the volatility of the stock. If a mutual fund and the markets move similarly, the beta is said to be 1. If a mutual fund moves up 20% more than the market, the beta is said to be 1.2. If a mutual fund moves up 5% more than the market, the beta is said to be 1.05. Downside capture ratio aims to tell us how less-affected a mutual fund is during bear markets. Beta aims to tell us how much more volatile a mutual fund is compared to the markets – both in bear and bull markets. --------------------- That's it for now. See you tomorrow! 😁

📊 Daily Groww Digest 4 June 2025 --------------------- ➣ Markets opened above yesterday’s closing point. Nifty 50 was volatile in the early hours. It rose for most of the day and closed in green. ➣ All sectors’ stocks rose except for the realty stocks and financial services stocks. Oil and gas stocks and metal stocks rose the most. ➣ Global markets: US markets and Asian markets rose. Most European markets also rose. --------------------- News ➣ HDB Financial Services (a subsidiary of HDFC Bank) received SEBI approval for a Rs 12,500 crore IPO. It includes a fresh issue of Rs 2,500 crore and an offer-for-sale of Rs 10,000 crore. ➣ India’s composite PMI (manufacturing + services) fell to 59.3 in May, compared to 59.7 in April. This means that the business activity grew less in May than in April. ➣ The RBI’s monetary policy meeting commenced today (4 May), and the interest rate decision will be announced on 6 June. --------------------- Stocks Updates ➣ Adani Enterprises: company subsidiary, Adani Airports Holdings, raised $750 million via external commercial borrowings to refinance debt, upgrade 6 airports, expand non-aero businesses, etc. ➣ Bharat Electronics: received orders worth Rs 537 crore for communication equipment, advanced composite, communication systems for ships, jammers, etc. ➣ REC: board approved raising up to Rs 1.55 lakh crore via debt within a year from shareholder approval. It also proposed to strike off (shut down) its subsidiary Rajgarh III Power Transmission Ltd. ➣ Sun Pharma: discontinued the development of a new drug ‘SCD-044’ after it failed the Phase 2 trials for psoriasis and eczema. ➣ Yes Bank: board approved raising up to Rs 7,500 crore via equity and Rs 8,500 crore via debt instruments. ➣ Vodafone-Idea (Vi): Ericsson India sold around 0.6% of its stake in the company for Rs 428.43 crore. --------------------- Auto Updates (May 2025) Maruti Suzuki: sales stood at 1.80 lakh units. Domestic sales were 1.49 lakh units and exports were at 31,219 units. M&M: sales stood at 84,110 units, a growth of 17% year-on-year. SUV sales grew 21% with 52,431 units sold. Tata Motors: sales stood at 70,187 units. Commercial vehicle sales fell 5% year-on-year to 28,147 units. Passenger vehicle sales fell 11% to 42,040 units. Hyundai Motor: sales stood at 58,701 units including export sales of 14,840 units. Eicher Motors: sales grew 26% year-on-year to 89,429 units. Exports grew 82%. TVS Motor: sales grew 17% year-on-year to 4.31 lakh units. Electric vehicle sales grew 50%. Ashok Leyland: sales stood at 15,484 units. Escorts Kubota: sales grew 0.7% year-on-year to 10,354 units. Exports grew 71.3%. Bajaj Auto: total sales grew 8% year-on-year to 3.85 lakh units. --------------------- Word of the Day Venture Capital (VC) It is money that investors give to startups or small companies with high growth potential Unlike a bank loan, the company doesn't need to repay the money. Instead, the investors receive a share of ownership in the company. It's a very high-risk investment. This is because the company is new, but there is potential for high rewards if it succeeds. Most of these investments fail but the few that succeed manage to cover for all other losses while also generating very good returns. Because of the high returns, many attempt to start a VC firm but not many succeed. --------------------- 6 Day Course Theme: famous investors & their styles Day 3: Wednesday Today, let’s talk about John Bogle. John Bogle pioneered the “passive” investing philosophy. He believed that making higher returns was difficult. So, he believes that for most of us, average returns are good enough. He is famous for popularising index funds. The idea was, it is far easier to get index returns but much harder to get higher returns than that. His hypothesis proved very true. Many American mutual funds struggled to give higher returns than index funds. So, in that case, index funds were better while being low cost and simple. Today, index funds are gaining popularity in India though

which is considered good. A down side capture ratio of more than 100% means the fund fell more than the benchmark — which is considered poor. Do note that this is not always the case. Sometimes even very good mutual funds can have a downside capture ratio of more than 100%. --------------------- That's it for now. See you tomorrow! 😁

📊 Daily Groww Digest 3 June 2025 --------------------- ➣ Markets opened above yesterday’s closing point. Nifty 50 fell immediately after the markets opened. It kept falling for most of the day and closed in red. ➣ Realty stocks and media stocks rose the most today. Private bank stocks and oil and gas stocks fell the most. ➣ Global markets: Most US markets and Asian markets rose. Most European markets closed flat. --------------------- News ➣ Euro Area’s annual consumer price inflation fell to 1.9% in May, from 2.2% in April, according to preliminary estimates. Core inflation fell to 2.3%, from 2.7% in April. ➣ Tesla acquired a 24,500 sq ft area for a service centre in Mumbai's Kurla West near its upcoming BKC showroom at a total cost of Rs 25 crore. Tesla had also acquired spaces in Pune and Bengaluru. ➣ India’s Garden Reach Shipbuilders and Norway's Kongsberg signed an MoU to build India's 1st indigenous Polar Research Vessel (PRV): Ministry of Ports, Shipping and Waterways. --------------------- Stocks Updates ➣ L&T: received a significant order from the Rajasthan government to develop pipelines, ground reservoirs, pump houses, and overhead reservoirs. A significant order for L&T ranges from Rs 1,000 crore to Rs 2,500 crore. ➣ Torrent Power: signed a long-term agreement with BP Singapore Pte Ltd (a subsidiary of BP) for the supply of LNG. BP will supply up to 0.41 million metric tonnes per annum of LNG to Torrent Power from 2027 to 2036. ➣ TVS Motor: partnered with Kadam Mobility to deploy 500 TVS King EV MAX electric 3-wheelers in the financial year 2025-26. ➣ Zydus Lifesciences: company subsidiary, Zynext Ventures USA LLC, acquired 5.9% stake in Agenus (a US-based immuno-oncology company) for around $16 million. ➣ HCL Tech: partnered with UiPath (an automation software company) to work on agentic automation for global enterprises. --------------------- Word of the Day Dividend Payout Ratio It is the percentage of a company's profit that is paid out as dividends A company earns profit and it may distribute a portion of these profits to shareholders as dividends. For example, if a company earns Rs 1,000 crore in a quarter. From that, it pays Rs 40 crore as dividends. Therefore, its payout ratio is 4%. Dividend payout Ratio = (Dividends paid / Profits) * 100 --------------------- 6 Day Course Theme: famous investors & their styles Day 2: Tuesday Peter Lynch: he was the fund manager of Fidelity Magellan Fund (a mutual fund in the USA). He is one of the most legendary names in the industry for having given a return of 29% per annum for 13 years. Peter Lynch is worshipped for this because he was managing a portfolio for retail investors (and not just for himself). This means he had more pressure to perform consistently and was only able to take less risky moves. Peter believed in the philosophy of investing in what you know — products and services you use on a regular basis. After choosing stocks of those companies, he suggested researching deeply and buying stocks while they were fairly valued. He was famous for GARP — Growth At Reasonable Price. Lastly, he believed that the individual investor was at an advantage because they could spot trends and new opportunities much before institutional investors noticed them. --------------------- Featured Question Q. “What do you mean by down side capture ratio in mutual funds?” It is used to assess mutual funds’ performance during bear markets or when the markets are doing poorly. Every mutual fund has a benchmark to compare its performance. Like many large cap mutual funds keep the Nifty 50 as their benchmark index. The down side capture ratio aims to compare the fall of the benchmark vs the mutual fund. Example: Let’s say in a bear market, a large-cap mutual fund has fallen 10%. Over the same period, the Nifty 50 index has fallen about 12%. Comparing this: (Fall of mutual fund / fall of benchmark) x 100 = (10/12) x 100 = 83.33% A down side capture ratio of less than 100% means the fund fell less than the benchmark —

📊 Daily Groww Digest 2 June 2025 --------------------- ➣ Markets opened below Friday’s closing point. Nifty 50 fell immediately after the markets opened but rose throughout the day. ➣ Realty stock and PSU bank stocks rose the most today. IT stocks and metal stocks fell the most. ➣ Global markets: Most US markets were flat. Most of the European and Asian markets closed in the red. --------------------- News ➣ Air India entered into a new codeshare partnership with IcelandAir for 15 routes between India and Europe. It also expanded the codeshare partnership with Air Mauritius on 17 routes between India, Mauritius, Reunion, South Africa, and Madagascar. ➣ India’s manufacturing PMI fell to 57.6 in May, compared to 58.2 in April. This means that the manufacturing activity grew less in May than in April. ➣ Schloss Bangalore (Leela Hotels) IPO got listed on the stock market at a 6.67% discount from its issue price. ➣ Aegis Vopak Terminals IPO got listed on the stock market at a 6.38% discount from its issue price. --------------------- Stocks Updates ➣ InterGlobe (IndiGo): signed an MoU with Airbus to increase its wide-body order from 30 to 60 units of A350-900 aircraft. Deliveries are expected to start in 2027. ➣ Dr Reddy's: received a Rs 2,395.82 crore income tax order for the assessment year 2020-21, related to the merger of Dr Reddy's Holding Ltd. ➣ Zydus Lifesciences: received tentative approval from the US FDA for Rifaximin Tablets used for the treatment of irritable bowel syndrome with diarrhoea in adults. These tablets had annual sales of $2.7 billion in the US. --------------------- Word of the Day Contingent Liability It is the possible cost that a company might have to pay in the future It depends on whether a certain event happens or not. If the event seems likely and the cost can be estimated, the company shows it in its financial statements. It keeps aside money in case the event happens. Example: let’s say a company is being sued. The outcome of the case is uncertain. If the company loses, it may have to pay a settlement. The company would keep aside money as a contingent liability until the case is resolved. --------------------- 6 Day Course Theme: famous investors & their styles Day 1: Monday Different investors use different strategies to succeed. There’s no one kind of strategy that’s more correct than others. In this week’s course, we will do a deep dive into the different strategies used. Let’s start with probably the most famous example: Warren Buffett. He is famous for value investing. He likes to buy good-quality businesses at a fair or undervalued share price. He is also someone who does not like to change his shareholdings a lot. He likes to buy and sit on his investments. Warren also does not like a very large and diversified portfolio. He prefers to have a concentrated portfolio of stocks that have been carefully chosen. --------------------- Featured Question Q. “What is earning per share and how it's calculate” The easiest way to understand Earnings Per Share (EPS) is to think about the profits earned by each share. EPS = total profit after tax / total number of shares. Higher EPS means higher profits. EPS can also indicate (not always) the possible dividends being paid out since dividends are usually paid from profits made by a company. --------------------- That's it for now. See you tomorrow! 😁

he/she may be more inclined to invest in the futures markets and not the spot markets. When futures contracts are not squared off, they convert to delivery. This is why most futures contracts have a built-in auto-square off feature so that traders do not actually have to take delivery of the commodity. --------------------- That's it for now. See you tomorrow! 😁

📊 Daily Groww Digest 30 May 2025 --------------------- ➣ Markets opened slightly below yesterday’s closing point. Nifty 50 remained volatile in the early hours. After that, it stayed volatile but within a range. ➣ All sectors’ stocks fell today except for the PSU bank stocks and media stocks. Metal stocks and IT stocks fell the most. ➣ Global markets: US and European markets closed in green. Asian markets rose except for the Australian markets. --------------------- News ➣ India’s annual GDP growth rate rose to 7.4% in the Jan-March quarter, compared to 6.4% in the previous quarter. ➣ India’s forex reserves rose by $6.99 billion to $692.72 billion in the week that ended on 23 May. ➣ India now has over 34,000 GPUs available for AI work. IndiaAI Mission also picked 3 new startups (Soket AI, Gnani AI, and Gan AI) to create indigenous foundation models: Ministry of Electronics & IT. --------------------- Stocks Updates ➣ Adani Ports: raised Rs 5,000 crore via non-convertible debentures (NCDs) having a coupon rate of 7.75% and a tenure of 15 years. The NCDs were fully subscribed by the Life Insurance Corporation of India (LIC). ➣ LTIMindtree: company appointed Mr. Venugopal Lambu as the new CEO and MD, effective from 31 May. ➣ Bajaj Holdings: net profit fell 36% year-on-year to Rs 1,725 crore in the Jan-March quarter. Dividend announced: Rs 28 per share. Record date: 27 June. ➣ Adani Energy: won a Rs 1,660 crore inter-state transmission project in Maharashtra to add 3,000 Mega Volt-Amperes (MVA) of substations capacity. ➣ InterGlobe (IndiGo): signed an agreement with Bangalore International Airport to develop a 31-acre MRO (maintenance, repair and overhaul) facility for narrow and wide body aircraft. --------------------- Word of the Day Yield to Maturity (YTM) It is the total return you can expect if you buy a bond and hold it until it matures It assumes that all interest generated is reinvested in the same bond till its maturity. A higher YTM may mean more profit, but it can also mean higher risk. It helps you compare how much you could earn from different bonds and make an investment decision. It considers the bond's current market price, face value, coupon interest payments, and the time remaining until maturity. --------------------- 6 Day Course Theme: commodity markets Day 5: Wednesday Commodity markets are driven by the supply and demand of different commodities. So, in a bad monsoon year when the crop production is lower, crop prices shoot up. Similarly, nearly all commodities are influenced greatly by factors that affect supply and demand. So, the weather, geopolitics, supply chain, logistics, etc play a great role in influencing the commodities markets. Another factor to note about the commodities markets is that most commodities are traded with a short-term view — they are traded and consumed in relatively short periods of time. In case of stock markets, this may not be the case as investors trade for short-term periods as well as long-term periods. Commodities markets can also be more volatile than the stock markets — which is something that attracts many traders. --------------------- Featured Question Q. “I have read your article about commodity markets on 29/05/2025.My question is how and where a trader will take delivery of physical item-like oil,grains,steel etc? What is meant by physical delivery? Kindly explain what is spot market?” Physical delivery refers to the actual picking up of the commodities after the trade is done. Commodities exchanges have assigned delivery centres. The buyer and seller both have to arrange for the pick up and delivery of the commodities based on the contract terms. The contract terms are checked, and quality checks are made accordingly. Spot markets are the markets in commodities exchanges where buyers and sellers trade to actually buy/sell physical goods and take delivery immediately. They are not merely trading for speculation or capital gains. If a trader is not interested in taking physical delivery of the goods,

📊 Daily Groww Digest 27 May 2025 --------------------- ➣ Markets opened below yesterday’s closing point. Nifty 50 was volatile and made sharp swings up and down. ➣ PSU bank stocks and realty stocks rose the most today. FMCG stocks and IT stocks fell the most. ➣ Global markets: US markets were closed due to Memorial Day. European markets rose. Asian markets showed a mixed trend. --------------------- News ➣ Airbus and Tata Advanced Systems (TASL) will set up the final assembly line for the H125 helicopters in Kolar, Karnataka. This will be India’s first private helicopter assembly plant. This news is as per some media reports. ➣ Schloss Bangalore (Leela Hotels) IPO has been subscribed 0.17 times. Retail subscription: 0.41 times. IPO is open till tomorrow (28 May). ➣ Aegis Vopak Terminals IPO has been subscribed 0.35 times. Retail subscription: 0.44 times. IPO is open till tomorrow (28 May). --------------------- Stocks Updates ➣ Jio Financial: received SEBI approval to establish 'Jio BlackRock Mutual Fund' and for 'Jio BlackRock Asset Management Pvt Ltd' to function as its Asset Management Company (AMC). ➣ LIC: net profit rose 38% year-on-year to Rs 19,039 crore in the Jan-March quarter. Net premium income fell 3% to Rs 1.48 lakh crore. Dividend announced: Rs 12 per share. Record date: 25 July. ➣ Info Edge (Naukri): net profit rose 667% year-on-year to Rs 463 crore in the Jan-March quarter. Dividend announced: Rs 3.60 per share. Record date: 25 July. The board approved an investment of about Rs 300 crore in a wholly owned subsidiary, Startup Internet Services Ltd. ➣ Coal India: company subsidiary Central Mine Planning & Design Institute Ltd has filed DRHP with SEBI for an IPO. ➣ Adani Ports: incorporated ‘East Africa Ports FZCO’ as a wholly-owned step-down subsidiary in the UAE to conduct investment in commercial enterprises and management. --------------------- Word of the Day Lock-in Period It is a time period when investors cannot sell or withdraw their investments Once you invest, you have to wait for the lock-in period to end before you can sell or take your money out. Lock-in periods are common in insurance plans, mutual funds, and IPO shares, but each has a different length. Companies can keep their funds steady after raising money and promote long-term investment through this. --------------------- 6 Day Course Theme: commodity markets Day 2: Tuesday In many ways, the commodities markets are similar to the stock markets. They are both overseen by the SEBI. Like the stock markets, they too have derivates like futures and options (F&O). The kinds of investors/traders are somewhat similar. There are buyers, there are traders looking for an arbitrage opportunity, there are speculators who are looking to gain a quick buck trading these commodities, and so on. In addition, there are also hedgers — people who are looking to hedge price risks. We will cover hedgers in detail in tomorrow’s 6 Day Course. --------------------- Featured Question Q. “If a company have statement like:- net profit rose 39% year-on-year to Rs 1,282 crore in the Jan-March quarter. What does it mean? Is 1282 crore profit made in that quater or profit rose to that much in a year?” It means that we are comparing the same quarters from two different years. So, for example, it could be comparing Jan-March 2024 and Jan-March 2025. Now, in the above example Rs 1,282 cr is the total profit in that quarter — not only the increase. This number — Rs 1,282 cr — is 39% higher than the profit made in the same quarter in the previous year. --------------------- That's it for now. See you tomorrow! 😁

‘booking profits’. There is no fixed definition of this. It’s not like ‘booking profits’ means selling all your held shares or only a part of them. It can be used either way. So in short, the act of selling shares (any number of shares) while making positive returns is called booking profits. --------------------- That's it for now. See you tomorrow! 😁

📊 Daily Groww Digest 26 May 2025 --------------------- ➣ Markets opened above Friday’s closing point. Nifty 50 was volatile in the initial hours. After that, it stayed in a range. ➣ All sectors' stocks rose today. Auto stocks and IT stocks rose the most. ➣ Global markets: US markets fell, and most European markets rose. Asian markets showed a mixed trend. --------------------- News ➣ The US President has delayed imposing 50% tariffs on imports from the European Union until 9 July. The tariffs were supposed to start from 1 June. ➣ Schloss Bangalore (Leela Hotels) IPO has been subscribed 0.06 times. Retail subscription: 0.20 times. IPO is open till 28 May. ➣ Aegis Vopak Terminals IPO has been subscribed 0.26 times. Retail subscription: 0.19 times. IPO is open till 28 May. ➣ Groww has filed the DRHP for an IPO with SEBI through the confidential route. Note: Groww Digest is a product of Groww. --------------------- Stocks Updates ➣ One 97 (Paytm): the Supreme Court issued a stay on 23 May 2025, against the Rs 5,712 crore GST show-cause notice issued to First Games Technology. This order suspends all associated proceedings until a final decision is reached. ➣ Airtel: the Supreme Court dismissed Bharti Telemedia's (a company subsidiary) appeal against the Entertainment Tax for DTH services, costing Rs 585 crore which is fully provisioned (of which Rs 575 crore has already been paid). ➣ NTPC: net profit rose 23% year-on-year to Rs 7,611 crore in the Jan-March quarter. Dividend announced: Rs 3.35 per share. Record date: yet to be announced. ➣ ONGC: a joint venture led by the company has restarted production from the offshore PY-3 oil field in the Cauvery Basin after 14 years. ➣ Lupin: partnered with SteinCares to sell its biosimilar ranibizumab in Latin America (excluding Mexico and Argentina). SteinCares will manage sales, and Lupin will handle manufacturing. --------------------- Word of the Day IPO Subscription It is when investors apply to buy shares of a company that is going public for the first time A company decides how many shares to make available in its IPO. Subscription shows how many people have applied to buy these shares. It shows the demand for the shares. If investors want more shares than what the company is offering, the IPO is said to be oversubscribed. There is strong investor interest in the company. If demand for the shares is less than what is available, it is said to be undersubscribed. --------------------- 6 Day Course Theme: commodity markets Day 1: Monday We know that shares can be bought and sold on the exchange. More aware investors will know we can also buy/sell bonds on the bonds exchange. Likewise, we can also buy and sell different commodities on the commodity exchange. Some examples of commodities that are traded are gold, silver, crude oil, natural gas, copper, zinc, steel, nickel, aluminium, etc. Agricultural commodities are also traded on the exchange — coffee, cotton, turmeric, mustard, and a few others are also traded on the exchange. These trades do not happen at the BSE or NSE. They happen at dedicated commodities exchanges like Multi Commodity Exchange of India (MCX), National Commodities and Derivatives Exchange of India (NCDEX), Indian Commodity Exchange (ICE), and a few more. --------------------- Featured Question Q. “When people say the phrase "book profits" the percentage we book from pir investments, is it from our total investment for that one stock or from our unrealized gains? Like say I have invested Rs 10,000 in one stock and it has become Rs 10,100, so it's a 1% gain that I have, so to book a 10% profit of that stock, should I take out 10% from my initial investment, i.e., Rs 10000 or from the 100 unrealized gain thar I have??” 'Booking profits' is used quite freely. You invested some amount. It has grown to become a larger amount — which means you have unrealised gains. There are gains, but they’re not real as the price could go down. So, if you sell while the share is up, the gains become real. This is called

📊 Daily Groww Digest 23 May 2025 --------------------- ➣ Markets opened above yesterday’s closing point. ➣ All sectors' stocks rose today except for the pharma stocks and healthcare stocks. FMCG stocks and private bank stocks rose the most. ➣ Global markets: Most US and European markets were flat. Asian markets showed a mixed trend. --------------------- News ➣ The RBI approved a dividend payout of Rs 2.69 lakh crore to the central government for FY 2024-25. It is a 27.4% year-on-year increase from the Rs 2.1 lakh crore dividend paid in FY 2023-24. ➣ Japan’s annual inflation rate remained unchanged at 3.6% in April. Core inflation (excluding fresh food prices) rose to 3.5% from 3.2% in March. ➣ India’s forex reserves fell by $4.89 billion to $685.73 billion in the week that ended on 16 May. ➣ Belrise Industries IPO was subscribed 41.30 times. Retail subscription: 4.27 times. It is now closed for subscription. --------------------- Stocks Updates ➣ Ashok Leyland: net profit rose 32% year-on-year to Rs 1,130 crore in the Jan-March quarter. The board approved a 1:1 bonus issue of shares. Record date: yet to be announced. ➣ Reliance: will invest Rs 75,000 crore in northeastern India over the next 5 years to set up 350 biogas plants, expand telecom, retail, FMCG factories, etc., said Chairman Mukesh Ambani. ➣ JSW Steel: net profit rose 16% year-on-year to Rs 1,503 crore in the Jan-March quarter. Dividend announced: Rs 2.8 per share. Record date: 8 July. The board approved raising Rs 7,000 crore through QIP (Qualified Institutional Placement) and another Rs 7,000 crore via NCDs (Non-Convertible Debentures) with equity warrants. They also approved issuing up to Rs 5,000 crore in NCDs privately or publicly. ➣ Tata Steel: inaugurated the expanded Kalinganagar plant at Jajpur, Odisha. It will increase the company’s crude steel capacity from 3 to 8 million tonnes per annum. ➣ Adani Green: company’s promoter, Ardour Investment Holding, converted 5.47 million warrants into equity shares worth Rs 607.7 crore, raising promoter group shareholding from 61.6% to 61.73%. --------------------- Word of the Day Cash Conversion Cycle It shows how long it takes a company to turn its investments into cash It measures the time from buying materials, making products, selling them, to collecting money from customers. The time taken is measured in days. A shorter cycle means the company gets back cash faster, which shows it is running efficiently. For companies that keep products or materials in stock (inventory), this is one of the metrics of their financial health. --------------------- 6 Day Course Theme: medical insurance Day 5: Friday Another crucial metric to pay attention to is the co-payment. Many insurance providers require you to pay a certain percentage of the bill yourself. This is not always the case but many insurers have this clause. If no insurance is claimed, the renewal amount next year is given a no-claim bonus. Health insurance is an extremely complex field. There are many terms and conditions a person has to go through thoroughly to understand this topic. Many times, it might be better to hire the help of an insurance expert. Do make sure you understand the terms and conditions of the medical insurance carefully before buying a policy. --------------------- Featured Question Q. “So when we look at a company stock price graph over the time, how do we know the changes according to the stock split ?” Most websites that show stock charts adjust older numbers based on splits. Let’s say a company’s share price was Rs 100 in 2005. In 2010, it was Rs 500. In that year, they split 1 stock in 10 parts. So, the new price of one share is Rs 50 (in 2010). Now, if you look at the charts and see the share’s price in 2005, you will not see it as Rs 100. It will be Rs 10. The older price would also have been split accordingly. --------------------- That's it for now. See you tomorrow! 😁

considered taxes. Even then it seems like there’s no advantage. If you consider taxes and other charges, you will end up losing some money. Which means, you will have an even lesser amount. Hence, it does not make sense. --------------------- That's it for now. See you tomorrow! 😁

📊 Daily Groww Digest 22 May 2025 --------------------- ➣ Markets opened below yesterday’s closing point. ➣ All sectors’ stocks fell today except for the media stocks. FMCG stocks and IT stocks fell the most. ➣ Global markets: US, European, and Asian markets fell. --------------------- News ➣ Honda Motorcycle and Scooter India plans to invest Rs 920 crore to add a 4th production line by 2027 at its Gujarat plant. It will raise capacity to 2.61 million units annually, making it Honda's largest global motorcycle assembly plant. ➣ Belrise Industries IPO has been subscribed 2.89 times. Retail subscription: 1.54 times. Open till tomorrow (23 May). --------------------- Stocks Updates ➣ Adani Ports: board approved raising Rs 6,000 crore through non-convertible debentures on a private placement basis. The funds will be used for the refinancing of existing debt and other purposes. ➣ ITC: net profit rose 300% year-on-year to Rs 19,727 crore in the Jan-March quarter. Dividend announced: Rs 7.85 per share. Record date: 28 May. This exceptional gain was due to the demerger of the company’s hotel business. ➣ Bajaj Auto: subsidiary, BAIH, is injecting an additional 600 million euros into KTM AG to prevent insolvency and intends to have a controlling stake in the future, with shareholder and regulatory approvals pending. ➣ Sun Pharma: net profit fell 19% year-on-year to Rs 2,154 crore in the Jan-March quarter. Dividend announced: Rs 5.5 per share. Record date: 7 July. ➣ GMR Airports: a company subsidiary, GHIAL, will acquire a 70% stake in its other subsidiary, ESR GMR Logistics Park Pvt Ltd (EGLPPL), for Rs 41.33 crore. After the acquisition, EGLPPL would become a wholly owned subsidiary of GHIAL. ➣ NTPC Green: won a battery energy storage project in Kerala through an NHPC auction. --------------------- Word of the Day ​​Minority Interest It is the portion of a company’s ownership held by investors with less than 50% stake So anything the parent company (or the majority shareholder) does not own is called minority interest. These investors have a share in the company’s profits and assets. But they don’t have control over how the company is run. In financial reports, minority interest has to be accounted for separately. It helps investors understand the structure and ownership of the company. --------------------- 6 Day Course Theme: medical insurance Day 4: Thursday Most health insurance providers have a waiting period before they start covering your health expenses (usually around 30 days). Even after that, there may be a waiting period for a pre-existing disease, which can be a few years too. This means that all other diseases will be covered, but pre-existing diseases will not be covered for a certain period (example: 4 years). You can also buy top-ups and super top-ups that are dedicated to specific uses. Example: heart disease super top up, increased coverage in case base plan is exhausted, etc. Insurance companies maintain a list of network hospitals where the insurance is handled cashlessly — which means the payment is done directly between the insurance company and the hospital. In case cashless isn’t available, the patient has to pay and then get it reimbursed from the insurance company later on. --------------------- Featured Question Q. “If I invested in a fund for 1000 whose NAV at 10. Now it's NAV reduced to 7. It's expense ratio is 0.31%. Is it wise to sell off the fund and repurchase same fund at lower NAV 7 to get more units as I believe the fund to grow more in future. Consider short term loss for tax purpose.” Let’s say you invested Rs 1,000 — and at that time, its NAV was Rs 10. Now, the NAV is Rs 7. Which means your investments’ value is down to Rs 700. If you sell at this point, you will get Rs 700. Then, if you reinvest at a NAV of Rs 7, you will get Rs 700 worth of units. You will effectively get the same number of units. Not more. So, there is no difference. Hence, it does not make sense to sell and re-buy in this case. In the above example, we have not

the same with another mutual fund in my portfolio" You need to keep in mind that whenever you redeem money from mutual funds, you might have to pay taxes and exit load. This would reduce your total earnings a little bit. So, even if you reinvest the entire amount you have withdrawn, there might be some loss. This is why rebalancing (redeeming and investing in another mutual fund) should not be done too frequently. How will your returns be affected? That would depend on the mutual fund you invest in after redeeming. Also, redeeming and then reinvesting that amount will take a few days at least. This could cause some loss if the mutual fund’s NAV grows over the few days it takes to withdraw and reinvest. --------------------- That's it for now. See you tomorrow! 😁

📊 Daily Groww Digest 21 May 2025 --------------------- ➣ Markets opened above yesterday’s closing point. Nifty 50 was volatile during the first half of the day. ➣ All sectors’ stocks rose today except for the consumer durables stocks. Realty stocks and pharma stocks rose the most. ➣ Global markets: US and European markets fell. Most Asian markets rose. --------------------- News ➣ Japan's trade deficit fell 77% year-on-year to 115.85 billion Japanese yen in April. Exports rose 2% while imports fell 2%. Japan had a surplus of 559.4 billion Japanese yen in March. ➣ The UK’s annual inflation rate rose to 3.5% in April, from 2.6% in March. Core inflation (excludes volatile price items) rose to 3.8%, from 3.4% in March. ➣ The number of air passengers rose 8.4% year-on-year to 1.43 crore in April, with 64% carried by IndiGo. On-time performance was the highest for IndiGo, followed by Akasa Air, Air India Group, Alliance Air, and Spice Jet: DGCA. ➣ The Leela Hotels has fixed a price band of Rs 413 to Rs 435 per share for its Rs 3,500 crore IPO. The IPO consists of a fresh issue of Rs 2,500 crore and an offer-for-sale of Rs 1,000 crore. It will be open from 26 May to 28 May. ➣ EPFO added 14.58 lakh net members in March, a year-on-year growth of 1.15%. New members added stood at 7.54 lakh, a growth of 0.98%. ➣ Foxconn’s Singapore-based subsidiary is investing $1.5 billion into its Indian subsidiary, Yuzhan Technology India. Yuzan Technologies manufactures electric components and assembles iPhones in Tamil Nadu. ➣ Belrise Industries IPO has been subscribed 0.67 times. Retail subscription: 0.48 times. Open till 23 May. --------------------- Stocks Updates ➣ InterGlobe (IndiGo): net profit rose 62% year-on-year to Rs 3,067 crore in the Jan-March quarter. Dividend announced: Rs 10 per share. Record date: 13 August. ➣ Power Finance: net profit rose 12% year-on-year to Rs 6,316 crore in the Jan-March quarter. Dividend announced: Rs 2.05 per share. Record date: 13 June. ➣ NTPC Green: net profit rose 188% year-on-year to Rs 233 crore in the Jan-March quarter. ➣ RVNL: received a Rs 178.64 crore order from IRCON International for upgradation work across multiple railway sections. ➣ Adani Green: a company subsidiary operationalised a 187.5 MW solar power project at Khavda, Gujarat. --------------------- Word of the Day ​​Alternative Investment Fund (AIF) It is an investment that differs from traditional assets like stocks, mutual funds, and bonds It is a privately pooled fund, meaning it is not open to the public. Usually, wealthy individuals or institutions are the ones to invest in them. AIFs invest in assets like real estate, private equity, infrastructure, and hedge funds. They can offer high returns, but they come with higher risks. They have higher fees and might be harder to sell quickly due to low liquidity. Recently, RBI proposed for the relaxation in the norms for investments in AIFs by banks and NBFCs. --------------------- 6 Day Course Theme: medical insurance Day 3: Wednesday Many people think that the entire insured amount is available for use when hospitalised. This is not the case. Room rent allowance is one example of such an expense: the cost of the hospital room per day is usually capped based on the insurance amount. Example: Room rent is capped at 1% of the insurance amount (per day). So if you have an insurance of Rs 5 lakh, the insurance company will pay Rs 5,000 per day for room rent in the hospital. Crossing this limit can affect the insurance amount paid for other costs like doctor consultation, etc. It is best not to cross this limit. This limit does not always apply as a percentage (example: 1%). Sometimes, there might be a hard limit like Rs 6,000 no matter the insured amount. Likewise, there can be a similar capping on the ICU charges, ambulance cost, disease specific treatment costs, etc. --------------------- Featured Question Q. "If my mutual fund portfolio is giving XIRR of 12 %, how will it be affected if I redeem a substantial amount and reinvest

expenses they will not cover. Sometimes, the list of exclusions can have a clause excluding certain diseases. Most medical insurance exclude expenses related to cosmetic surgeries (facelift, hair transplant, etc). Many times, exclusions will have pre-existing diseases in them. So, if any complication arises from a disease that you have been suffering from the past few years, the insurance company might not cover that expense. Many medical insurance also do not cover day-treatment expenses. They cover only expenses that need the patient to be admitted to the hospital for over 24 hours. --------------------- Featured Question Q. "Suppose I invest Rs. 10000 each in one sector ( For example DEFENSE) one via mutual fund and one thru ETF on same day assuming at almost same price. Both mutual fund and ETF are having same companies in their portfolio with same % of allocation. So after few months will I see almost same return in both or will it depends upon a AUM of that mutual fund or ETF. If it will not provide almost same return then On what factors will it depend on?" No, they will not have the exact same returns. They may have very similar returns but not exactly the same returns. There are a few factors that can lead to different returns like fees or expense ratio. Whichever has the lower expense ratio will give higher returns. Also, ETFs tend to change their holdings faster than mutual funds — which makes their returns different (could be higher or lower). Dividends are also another matter. ETFs might pay dividends directly to investors’ bank accounts. Mutual funds may re-invest the dividend back in the same fund. There can be many factors. But yes, let’s say theoretically, both the ETF and mutual fund have the exact same assets and allocations, are buying and selling exactly in the same manner, similar dividend handling, and have the same expense ratio. In that case, both their returns will be the same. --------------------- That's it for now. See you tomorrow! 😁

📊 Daily Groww Digest 20 May 2025 --------------------- ➣ Markets opened above yesterday’s closing point. Nifty 50, after 10:46 AM, gradually fell throughout the day and closed in red. ➣ All sectors’ stocks fell today. Auto stocks and healthcare stocks fell the most. ➣ Global markets: US markets rose. European markets and most Asian markets rose. --------------------- News ➣ India’s infrastructure output growth fell drastically to 0.5% year-on-year in April, compared to 4.6% in March. The production rose for cement (+6.7%), coal (+3.5%), steel (+3%), electricity (+1%) and natural gas (0.4%). Production declined for crude oil (-2.8%), refinery products (-4.5%) and fertilisers (-4.2%): Commerce Ministry. ➣ Suzuki Motorcycle India has begun construction on a new 100-acre 2-wheeler manufacturing plant in IMT Kharkhoda, Haryana. The facility aims to produce 7.5 lakh units annually in its initial phase, with operations expected to start in 2027. The plant involves an investment of Rs 1,200 crore. ➣ Belrise Industries IPO will be open for subscription from 21 May (tomorrow) till 23 May. The IPO has a size of Rs 2,150 crore. --------------------- Stocks Updates ➣ Hindalco: net profit rose 66% year-on-year to Rs 5,283 crore in the Jan-March quarter. Dividend announced: Rs 5 per share. Record date: yet to be announced. The board approved the 100% acquisition of EMIL Mines and Mineral Resources to secure fuel supply and optimize costs for its Mahan power plant and smelter by controlling the Bandha coal mine. ➣ SBI: company board approved raising up to $3 billion in US dollars or other major foreign currencies during FY 2025-26 to ensure long-term funding. ➣ Solar Industries: net profit rose 37% year-on-year to Rs 322 crore in the Jan-March quarter. Dividend announced: Rs 10 per share. Record date: 8 July. ➣ Max Healthcare: net profit rose 27% year-on-year to Rs 319 crore in the Jan-March quarter. Dividend announced: Rs 1.5 per share. Record date: yet to be announced. ➣ Torrent Pharma: net profit rose 11% year-on-year to Rs 498 crore in the Jan-March quarter. Dividend announced: Rs 6 per share. Record date: 20 June. Board recommended raising Rs 5,000 crore through a QIP (Qualified Insititutional Placement). ➣ Dixon Tech: net profit rose 321% year-on-year to Rs 401 crore in the Jan-March quarter. Dividend announced: Rs 8 per share. Record date: yet to be announced. ➣ Zydus Lifesciences: net profit fell 1% year-on-year to Rs 1,171 crore in the Jan-March quarter. Dividend announced: Rs 11 per share. Record date: 25 July. ➣ M&M: board approved subscription to Rs 1,496.27 crore right issue of its subsidiary Mahindra Lifespace Developers Ltd. ➣ Power Grid: net profit rose 5% year-on-year to Rs 4,336 crore in the Jan-March quarter. Dividend announced: Rs 1.25 per share. Record date: yet to be announced. ➣ DLF: net profit rose 39% year-on-year to Rs 1,282 crore in the Jan-March quarter. Dividend announced: Rs 6 per share. Record date: yet to be announced. --------------------- Word of the Day ​​Working Capital It is the money available with a company to handle its day-to-day operations and expenses It is calculated by subtracting current liabilities (rent, salaries, raw material dues, etc) from current assets (cash, inventory, and money owed by customers, etc). Working capital = current assets – current liabilities -If the working capital is positive, it means the company has enough resources to pay its short-term costs and continue operating smoothly. -If it is negative, it means the company may struggle to pay its bills and may need to borrow or raise money. It is also known as short-term capital as it gives a better idea of a company’s financial stability and tells how efficiently a company is able to run its business. --------------------- 6 Day Course Theme: medical insurance Day 2: Tuesday One of the first things to check when buying health insurance is the list of inclusions and exclusions. Inclusions is a list of medical expenses the insurance company will cover. Exclusions is a list of

constantly changing. Similarly, you can use the VIX values over different periods to find the VIX over a day, a week, a month, etc. Fear of investors cannot be quantified. VIX is used as a proxy for fear — though it is not absolutely accurate. --------------------- That's it for now. See you tomorrow! 😁