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Stock market update: Nifty Realty index advances 0.99%

Stock market update: Nifty Realty index advances 0.99%

Economic Times7 hours ago
MACD is known for signaling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages.
Synopsis The Nifty Realty index closed 0.99 per cent up at 982.35. NEW DELHI: The Nifty Realty index closed on a positive note on Tuesday.
ADVERTISEMENT Shares of Brigade Enterprises Ltd.(up 2.69 per cent), Prestige Estates Projects Ltd.(up 1.76 per cent), Phoenix Mills Ltd.(up 1.63 per cent), DLF Ltd.(up 1.25 per cent) and Anant Raj Ltd.(up 1.23 per cent) ended the day as top gainers in the pack.
On the other hand, Lodha Developers Ltd.(down 0.18 per cent) finished as the top losers of the day.
The Nifty Realty index closed 0.99 per cent up at 982.35. Benchmark NSE Nifty50 index ended up 61.21 points at 25522.5, while the BSE Sensex stood up 270.01 points at 83712.51. Among the 50 stocks in the Nifty index, 26 ended in the green, while 24 closed in the red.
ADVERTISEMENT Shares of JP Power, Vodafone Idea, Alok Industries, RattanIndia Power and PC Jeweller were among the most traded shares on the NSE. Shares of Sambhv Steel Tubes, Belrise Industries, Parsvnath Dev., Gabriel India and Ellenbarrie Ind. Gas hit their fresh 52-week highs in today's trade, while Nectar Lifesc, PVP Ventures Ltd., Sadhana Nitro, Creative Peripherals and Anisha Impex hit their fresh 52-week lows.
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WeWork India's plans to raise up to Rs 4,000 crore through IPO moves ahead as Sebi lifts abeyance status
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Economic Times

time39 minutes ago

  • Economic Times

WeWork India's plans to raise up to Rs 4,000 crore through IPO moves ahead as Sebi lifts abeyance status

WeWork India Management plans to raise up to Rs 4,000 crore through an IPO comprising solely of an offer for sale. Promoters Embassy Buildcon LLP and investor 1 Ariel Way Tenant will offload a total of 4.37 crore shares. The issue follows SEBI lifting the abeyance on the draft offer document, with the IPO now pending final regulatory observations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads WeWork India Management Limited, a leading player in India's premium flexible workspace segment, plans to raise up to Rs 4,000 crore through an initial public offering (IPO), according to IPO, as detailed in the DOD, will be an offer for sale (OFS) comprising up to 43,753,952 equity shares. The OFS will see Embassy Buildcon LLP, the promoter selling shareholder, offload 33,458,659 shares, while 1 Ariel Way Tenant Limited, an investor selling shareholder, will offer 10,295,293 shares. No fresh issuance of shares is planned, meaning the proceeds will go directly to the selling shareholders.'The firm expects to raise anywhere between Rs 3000 crore and Rs 4000 crore and will start the road show soon considering the abeyance has been lifted,' said a person aware of the fund India did not reply to ET lifting of the abeyance status comes after a period of regulatory pause during which SEBI likely sought clarifications or additional disclosures. While SEBI did not provide detailed reasons for the earlier abeyance in the public domain, such actions are often undertaken when a company's draft documents require closer scrutiny due to operational complexity, sectoral challenges, or disclosure per the Securities and Exchange Board of India (SEBI)'s July 4, 2025 update, the company's Draft Offer Document (DOD) has been moved out of abeyance and is now pending final observations from the market regulator.'Now back on track, WeWork India awaits SEBI's final observations — the last step before it can proceed with the IPO launch and red herring prospectus filing,' said another as a joint venture between WeWork Global and Bengaluru-based Embassy Group, WeWork India has emerged as the largest co-working space operator by total revenue over the past three fiscal years, according to CBRE. WeWork India is currently operational across eight cities including Chennai, New Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Pune and Hyderabad. Its portfolio includes over 100,000 desks across its 68 flexible workspace centres in these global volatility in the flexible workspace sector — especially after the bankruptcy filing of its U.S.-based counterpart WeWork Inc. in 2023 — WeWork India has remained relatively resilient. The company operates independently from its global namesake, with local leadership and Embassy Group ownership playing a crucial role in its financial and operational to market experts, the timing of the IPO comes amid renewed investor interest in commercial real estate-linked business models, particularly those focused on asset-light operations and scalable tech-enabled platforms.'Demand for premium, agile office solutions continues to grow among startups and enterprises alike. The recently planned public listing could further institutionalize the flex space segment and set a benchmark for other operators eyeing scale and capital. With India's Grade-A office absorption rebounding this segment is well-positioned to tap into both occupier demand and investor interest,' said Sankey Prasad, chairman & managing director, Middle East & India at IPO is being managed by a consortium of leading investment banks. JM Financial , ICICI Securities, Jefferies India, Kotak Mahindra Capital, and 360 ONE WAM are acting as Book Running Lead Managers (BRLMs) to the issue. Their role will be instrumental in marketing the IPO to institutional and retail investors SEBI's final approval, WeWork India will file its Red Herring Prospectus (RHP) and launch a roadshow to engage with potential investors. Market sources suggest the IPO could hit the markets as early as September 2025, subject to market conditions and final regulatory successful, this IPO will mark one of the largest public issues in the co-working space sector in India. It will also serve as a test for investor appetite in flexible workspace operators, especially at a time when hybrid work models continue to shape the future of commercial real estate.

Close to deal with India, says Donald Trump amid flurry of letters
Close to deal with India, says Donald Trump amid flurry of letters

Time of India

timean hour ago

  • Time of India

Close to deal with India, says Donald Trump amid flurry of letters

Image used for representative purposes NEW YORK/WASHINGTON: US President Donald Trump on Monday said Washington is "close to making a deal with India" even as he announced reciprocal tariffs on more than a dozen countries, including close allies, late Monday (early Tuesday India time) while sparing New Delhi. "We have made a deal with the UK, we have made a deal with China, we are close to making a deal with India. Others, we met with, and we don't think we will be able to make a deal, so we just sent them a letter: if you want to play ball, this is what you have to pay. As far as I am concerned, we are done. We are sending out letters to various countries, asking them how much we have to pay," he told reporters. More letters are to be sent on Tuesday, he posted on Truth Social. Although this is not the first time that Trump has made claims about a deal with India - he again linked it to the ceasefire between India and Pakistan as well - this time he has made a distinction as he announced tariffs, effective Aug 1, for 14 countries, ranging from 25% (Japan, South Korea, Malaysia, Kazakhstan and Tunisia) to 40% (Laos and Myanmar). Cambodia has seen a significant reduction, of 13 percentage points to 36%, compared to the tariffs announced in April, while there is an eight percentage point cut in the case of Laos. Japan and Malaysia have seen a one percentage point reduction. There was no comment from government on Tuesday amid intense speculation about when a deal could be announced. Govt sources said they were waiting for clarity from the White House as negotiations at the official level concluded last week. India has pledged to buy loads of American arms, energy, and other produce to whittle down the $45 billion trade deficit while making clear its reluctance to lowering duties on several farm and dairy products. Indian exporters are keen that a deal be closed quickly. 'With US imposing reciprocal tariffs on a dozen countries and advancing trade deals with partners like the UK and Vietnam, it is imperative that India and the US finalise a BTA at the earliest. A timely deal will not only shield Indian exports from uncertainty but also unlock new opportunities with comparative tariff advantages both in labour intensive and sunrise sectors. Strengthening this strategic trade partnership will send a strong signal of economic alignment and trust, benefiting businesses on both sides,' said Ajay Sahai, director general of the Federation of Indian Export Organisations. India and US have been engaged in talks for over four months now with a view to seal the first tranche of a bilateral trade pact by Fall (Sept-Oct). The announcement of reciprocal tariffs in early April pushed govt to seek a mini deal. The Aug 1 deadline set by Trump gives negotiators a few more days to bridge the gaps, although officials suggested that the US president has to take the final call on the deal with India. On Monday, Trump shot off missives to long-time allies Japan and South Korea, slapping them with 25% tariff. In letters riddled with random capitalisation and poor grammar and syntax, Trump told the prime minister of Japan, a US treaty ally, that the trade surplus Tokyo has run up against Washington constituted a 'major threat' to US national security. Identical letters citing threat to US national security was sent to leaders of Bosnia & Herzogovina (whose female President Zeljka Cvijanovic was addressed as Mr President), Cambodia and Bangladesh, which have small trade surpluses with Washington with exports in the paltry billions. Trump and his team also dialled down expectations of '90 deals in 90 days' that they had talked up at the start of the tariff war the US President initiated. Having negotiated only a framework for three sketchy agreements, Trump indicated most other countries would simply get a letter intimating them of tariff increases if they don't conclude an agreement by Aug 1. 'It's all done,' he maintained, even as aides acknowledged that instead of the White House phones 'ringing off the hook' as they anticipated, many countries had not even contacted them. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Trump's Tariff Bombshell: Who's Hit, What's At Stake And How Nations Are Reacting
Trump's Tariff Bombshell: Who's Hit, What's At Stake And How Nations Are Reacting

India.com

timean hour ago

  • India.com

Trump's Tariff Bombshell: Who's Hit, What's At Stake And How Nations Are Reacting

Washington: U.S. President Donald Trump announced on July 7 a firm deadline. August 1 marks the end of the tariff pause he first introduced in April. Fourteen nations received letters warning of new American import taxes if they fail to strike deals by then. White House officials confirmed to Al-Jazeera that tariffs announced on April 2 were suspended on April 9 for 90 days. They now resume August 1 under an executive order signed by Trump. The countries facing these renewed duties include Japan and South Korea at 25 percent each, South Africa at 30 percent, Laos and Myanmar at 40 percent and others with rates ranging from 25 percent to 40 percent. Some rates, according to Reuters, like those for Kazakhstan and Bangladesh are lower than what was originally planned, while Malaysia and Japan saw slight increases. Trump posted the full letters on Truth Social. He raised concerns about trade imbalances and offered exemptions for companies that shift production to the United States. He warned that any retaliatory tariffs by those nations could trigger even steeper U.S. rates. He also emphasised flexibility, promising to adjust rates 'upward or downward' depending on each country's relationship with America. The United States also issued a separate warning to BRICS nations, threatening an additional 10 percent tariff on countries aligning with anti‑American positions during the group's summit in Brazil. Some partners have reacted. Japan's Trade Minister said Tokyo will negotiate, especially on automobiles, but will protect its agricultural interests, according to Reuters. South Korea, as reported by announced steps to address the trade shortfall with America. South Africa expressed strong objections, calling the 30 percent tariff unjustified and promising to pursue more diplomatic resolutions. Markets responded with mixed signals on Monday. U.S. equities dipped slightly – Dow down nearly 1 percent, S&P 500 off by 0.8 percent and Nasdaq down 0.9 percent. Asian markets remained relatively stable. The Indian rupee strengthened slightly after India was excluded from the tariff list, while other Asian currencies held steady, Reuters reported. Two interim trade deals have already materialised. In May, a U.S.-U.K. agreement fixed a 10 percent tariff on initial U.K. vehicle exports, rising later to 25 percent. Then in early July, the United States reached terms with Vietnam, setting a minimum 20 percent U.S. tariff and a 40 percent charge on rerouted goods, Al-Jazeera reported. The looming deadline carries high stakes. Trump called it 'firm' but allowed for negotiation if leaders reach out with new proposals, according to Politico. Experts warn the strategy reflects his aggressive blend of negotiation through pressure and brinkmanship. Some commentators refer to this approach as the 'TACO' trade – Trump Always Chickens Out – highlighting his pattern of issuing threats and then delaying. Key dates to watch: July 9 was the original deadline, now superseded. July 14 ends the EU's suspension of retaliatory tariffs. August 1 is the new trigger date for U.S. measures. Negotiators in Washington suggest possible deals with India and the European Union could still emerge before that. But partners remain cautious. Stock markets jitter at any sign of prolonged trade tension.

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