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8 Jul, 8 tweets, 2 min read

Today: AMFI Report, Twitter and HC, Lambda variant, & more

The markets closed in the red today. Metals, banks, and PSU banks dragged the markets downwards.

The consolidated net profit of Tata Consultancy Services was reported at ₹9,008 cr during the Apr to Jun quarter of the FY 2021-22.

This is a 28.5% rise from the same quarter last year and a 2.6% decline from the Jan to Mar quarter.

According to data released by the Association of Mutual Funds in India (AMFI), net inflows into equity mutual fund schemes were at ₹5,988 cr in June, down 50% from the previous month.

The UK Health MInistry has identified a newer mutation of the virus after ‘Delta’, it is called the ‘Lambda variant’.

This variant has originated from Peru.

Delhi HC in its hearing has said that it will not provide any protection to Twitter.

The high court has allowed the Centre to take any action against Twitter if it is seen breaching the IT rules.

GR Infra IPO was subscribed 5.75 times at the end of day 2 of bidding.

The IPO received 4.67 crore shares against an offer size of 81.23 lakh shares.

Clean Science Technology IPO was subscribed 4.28 times at the end of day 2 of bidding.

The IPO received 5.26 crore shares against an offer size of 1.23 crore shares.

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More from @_groww

Groww

@_groww

11 Jul

You want to buy a house.

You take a loan from the bank.

The bank asks you, “what if you don’t pay back?”

You say, “take my home and sell it”.

(Thread)

That makes sense. The bank gives you a loan and in case you don’t pay, the bank will take over your house and sell it and recover its money.

That’s collateral.

Banks also lend money to big corporations. With them, banks don’t always have collateral.

So a loan where the bank has collateral is considered safer for the bank.

Read 27 tweets

Groww

@_groww

9 Jul

Today: IPO Corner - GR Infra & Clean Science, & more

The markets closed in the red today.
Metal and realty sectors did well while banks and financial services stocks dragged the markets down.

GR Infra IPO was subscribed 102.58 times at the end of day 3 of bidding.

The IPO received 83.33 crore shares as against an offer size of 81.23 lakh shares.

Read 4 tweets

Groww

@_groww

4 Jul

In 1882, a boy named Charles was born in Lugo, Italy.

His family was not wealthy and was going through a rough phase.

(Thread)

But little Charles always liked money.

He moved to Rome to study in a university there but he never did well - something he himself admitted.

While in university, he spent most of his time in bars and cafes with his rich friends.

At that time, Italians were migrating to the USA in search of economic opportunities and Charles jumped on a ship too.

Read 43 tweets

Groww

@_groww

2 Jul

Today: Exports rise in June, pregnant women eligible for vaccine, & more

The markets closed in the green today. Pharma, financials, and realty sector stocks did well while metal was the main loser today.

Exports during the June quarter this year jumped to $95 billion due to healthy growth in sectors, including engineering, rice, oil meals, and marine products.

This is 85% higher than that of the same period last year where the exports were at $51 billion.

Read 4 tweets

Groww

@_groww

1 Jul

Today: Covishield gets a green pass, June auto sales, & more.

The markets closed in the red today. IT, financials, and realty sector stocks were the main losers today.

Austria, Germany, Slovenia, Greece, Iceland, Ireland and Spain, and Switzerland have approved the Covishield COVID-19 vaccine for 'Green Pass'.

Estonia has confirmed that it will recognise all vaccines authorised by the government of India for the travel.

Read 7 tweets

Groww

@_groww

1 Jul

How did Elon Musk save Tesla?
Let's Dive.

Back in 2003, in Silicon Valley, 2 engineers, Martin Eberhard and Marc Tarpenning created Tesla.

The founders were looking for funding. Enter Elon Musk.

When eBay bought PayPal in 2002, Elon walked away with $180 million.

With $100 million into SpaceX, $10 million into SolarCity, and $70 million into Tesla, he became the chairperson of the company’s board.

Read 12 tweets

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