Good morning!
A lot to cover in today’s edition of Morning Khabar, as we really want to impress our new subscribers 😉
After a brilliant 7-day run in the green, Nifty50 and Sensex took a breather!
India’s GDP for the June quarter of FY22 is up to 20.1 % and the GST collection for the month of August is at ₹ 1.12 Lakh Cr.
Both these numbers indicate resilient growth ahead for the Indian economy! 🤞
Markets at a glance
A session of ‘Profit-booking’ as TV anchors would call it was underway at D-Street.
Metals and IT were down almost 1% but all the action was in Realty, Power and Capital goods. BSE MidCap and SmallCap also ended in the green!
FII: + 666.66 Cr Rupees
DII: - 1,287.87 Cr Rupees
Seems like only the domestic players were interested in booking profits.
What’s making headlines?
ICICI Bank (NSE:+0.12%) crossed ₹5 Trillion in market cap. Following the footsteps of HDFC Bank, and became only the seventh Indian company to achieve this feat (Mint)
Sachin Bansal’s Navi MF is set to offer Indian investors access to the Vanguard Total Stock Market Index Fund ETF. Why’s this a big deal? Vanguard is the world’s second-largest asset manager with close to $1.3 Trillion in funds!
What’s an ETF you ask?
Exchange-Traded Funds or ETFs, are a type of security that track an index, sector, commodity, or other assets. These funds can be bought or sold on an exchange the same way you would a regular stock.
We suggest new Retail Investors look more into this. This kind of passive investing really goes a long way!
Zoom (NASDAQ: ZM: -16.69%) took a plunge as the QoQ Growth numbers slowed (CNBC)
Mining giant Vedanta announces an interim dividend of ₹18.5 per share. Their generosity may come as a surprise to a few. Record date for the dividend said to be the 9 Sept (MC)
Where’s the money flowing?
Shoppers Stop sells its iconic bookstore Crossword for ₹41.62 Cr
The Retail category of Vijaya Diagnostic’s IPO is almost subscribed halfway at 0.46 times. While, Ami Organics’ Retail category is already over-subscribed at 2.8 times on day one itself! Make of that what you will.
MapmyIndia filed its DRHP with SEBI for a ₹1,200 Cr IPO. Which currently is entirely an Offer For Sale (OFS) by existing shareholders (FE)
Business operations automation and orchestration start-up Rattle, raised $2.8 Million from Sequoia Cap India and Lightspeed (TC)
Swiggy is in talks to acquire Dunzo, the hyper-local delivery startup (Mint)
More news?
Sona BLW (NSE: SONACOMS: -0.33%) issues a clarification about it’s linking with Tesla for its India operations (IIFL)
World’s second-largest Crypto exchange Coinbase (NASDAQ: COIN: -1.39%) to use Indian startup Polygon’s scaling solution to reduce prices and settlement times (YS)
Equitas Small Finance Bank set to launch digital fixed deposits along with Google Pay (Mint)