Good afternoon,
Markets are trading in the green, with the NIFTY50 trading above 20,950 as of 12:15 pm. Here are the top stories for the day!
Top gainer: JSW Steel: 843 ▲ 24 (+2.9%)
Top loser: Adani Ports: 1,022 ▼ 17 (-1.7%)
RBI keeps the repo rate unchanged
The Indian central bank has maintained the status quo by keeping the rates unchanged at 6.5%. It is in line with the street expectations. This comes at a time when the retail inflation continues to be above the RBI’s target of 4%.
IRB Infra gains on robust toll collection
Shares of the infrastructure company are up 5.5% in the early trade. This a day after the company reported 20% year-on-year (YoY) growth in its toll collection in November 2023. The management said that the company witnessed continued rise in toll collection, despite Diwali holidays, which briefly slowed down momentum of economic activities across India for almost a week.
Suraj Estate Developers IPO launch on 18 December
The real estate developer’s IPO is open for subscription from December 18 to December 20, 2023, aiming to raise ₹400 crore. The funds will primarily go towards repaying ₹285 crore in debts, allocating ₹35 crore for land acquisition in the Mumbai Metropolitan Region. The remaining proceeds will be used for general corporate purposes.