Morning Buzz: Sensex scales 65,000, 76% of Rs2000 notes back in banking system and more

Gaining for the fifth straight session the Sensex moved past 65,000 on account of strong flows from institutional investors Image: Indranil Aditya/Bloomberg via Getty Images  

Sensex goes past 65,000 on FPI flows  

Gaining for the fifth straight session the Sensex moved past 65,000 on account of strong flows from institutional investors. Foreign portfolio investors bought shares worth Rs 1,996 crore on Monday. In June they had put in Rs 52,336 crore in Indian shares. Market participants have put this down to a stable earnings scenario in India. At the same time, cash market volumes rose to a 14-month high in June.

(Economic Times, Business Standard, Mint)

Byju’s promoters have sold shares worth $408.53 million since FY16

Byju Raveendran, Divya Gokulnath and Riju Raveendran have sold shares worth $408.53 million in 40 secondary market transactions since 2015. During the same time the promoter stake in the company fell from 71.6 percent to 21.2 percent, according to an analysis by PrivateCircle Research. A lion’s share of the shares were sold by Riju Raveendran who sold 3,73,911 shares valued at $375.83 million. In a recent townhall with employees the promoters had claimed that all the amount received through share sales had been reinvested back into the company.

(Hindu BusinessLine)

76 percent of Rs 2000 notes back in the banking system

Banking notes worth Rs 2,72,000 crore have come back into the banking system, according to an announcement by the Reserve Bank of India. As a result the bank notes in circulation stood at Rs 84,000 crore. About 87 percent of these notes came in the form of deposits and the balance were exchanged for other denomination bank notes.