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RBI keeps repo rate unchanged, REITs gain on SEZ regulation changes & more

NIFTY50: 20,969 ▲ 68 (+0.3%)
SENSEX: 69,825 ▲ 303 (+0.4%)


Among the NIFTY sectoral indices, IT (+1.3%) and Financial Services (+0.9%) are the top gainers, while FMCG (-0.9%) and Pharma (-0.8%) are the top losers.

What's Up

Top gainers Today's change
HCL Tech
1,365 ▲ 37 (+2.8%)
LTI Mindtree 5,710 ▲ 142 (+2.5%)
JSW Steel
839 ▲ 20 (+2.4%)

What's Down

Top losers Today's change
Adani Enterprises
2,829 ▼ 57 (-1.9%)
Adani Ports 1,021 ▼ 18 (-1.7%)
ITC
450 ▼ 8.1 (-1.7%)

Market Sentiment

USD-INR 83.40 ▲ 0.03 (+0.04%)
NIFTY MIDCAP 100 44,400 ▼ 94 (-0.2%)
NIFTY SMALLCAP 100 14,403 ▼ 158 (-1.0%)
India VIX 12.47 ▼ 0.20 (-1.6%)

Stock Buzz


RBI keeps repo rate unchanged

The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% for the fifth consecutive time. This was in line with the street expectations. Against this backdrop , BANK NIFTY hit a new lifetime high of 47,303 today. Heavyweight banking stocks like ICICI Bank (+1.2%) and HDFC Bank (+1.3%) closed higher. Meanwhile, realty stocks like Prestige (+4.6%) and Sobha (+7.4%) also made gains.

⭐ REITs gain on SEZ regulation change

Real estate investment trusts (REITs) stock, including Mindspace Business Parks (+1.6%), Brookfield India Real Estate Trust (+5.3%), and Embassy Office Parks (+1.9%) witnessed strong traction today. This rise comes after the recent amendments in the special economic zone (SEZ) regulations. As per new amendment, developers in IT and IT-enabled services (ITeS) SEZs are permitted to use their vacant spaces for non-IT and ITeS purposes. Experts state that this new change will improve the occupancy rate and rental yield for REITs players.

⭐ IRB Infra shares up on robust toll collection

Shares of the infrastructure company closed 3.6% higher today. This was a day after the company reported a 20% year-on-year (YoY) rise in its toll collection at ₹437 crore in November 2023. The management said that the company witnessed a continued rise in toll collection, despite Diwali holidays.

⭐ JSW Steel hits 52-week high on fund-raising

The steel manufacturer hit a 52-week high and closed 2.4% higher today. This comes after the company announced that its subsidiary JSW Steel Ohio planned to raise ₹1,209 crore via revenue bonds. The fund raised through this bond will be used to upgrade its manufacturing operations at Mingo Junction, Ohio.

⭐ Olectra Greentech bags electric bus order

Olectra Greentech, a commercial EV maker, received a new order worth ₹62.8 crore from Vasai Virar City Municipal Corporation. The company will supply 40 electric buses over a period of seven months. Following the announcement, shares of the company rose over 3% intraday before witnessing profit booking.


IPO Corner

⭐ The IPO of India Shelter Finance, a housing finance company, will be open for subscription between 13 and 15 December. The price band for the public issue is ₹469-493 per share. The company plans to raise ₹1,200 crore through this IPO. The minimum lot size  is 30 shares.

The IPO of the Suraj Estate Developers will open for subscription from 18 to 20 December 2023. The company plans to raise ₹400 crore through this IPO.


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Categories: Market Recap