BSE Hits Record High, Garden Reach Secures New Shipbuilding Deal, RITES Wins IIM Raipur Project

Market Snapshot

• Indian benchmark indices closed with marginal losses on December 6, with the Nifty slipping below 24,700 after a volatile session.
• The RBI’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% for the 11th consecutive meeting, as widely expected.
• To improve liquidity in the banking system, the RBI announced a CRR cut to 4%, implemented in two tranches of 25 bps each.
• The RBI revised its CPI inflation forecast for FY25 upward to 4.8% from the earlier projection of 4.5%.
• The GDP growth forecast for FY25 was lowered to 6.6%, down from the previous estimate of 7.2%

Sectoral Trends

Top News

• BSE Ltd surged over 19% in three sessions to hit a record high of Rs 5,409.65 on December 6, driven by a 14% jump in the previous session, before retreating slightly.
• Garden Reach Shipbuilders & Engineers rose 4% to Rs 1,828 after securing an agreement for a second 7,500 DWT multi-purpose vessel; the stock has more than doubled this year, outperforming the Nifty 50’s 12% rise.
• RITES Ltd gained nearly 3% after securing a Rs 148.25 crore project (excluding GST) as Project Management Consultant for IIM Raipur’s Phase II campus development in Chhattisgarh.
• IPO frenzy cools down in November as subscription levels take a hit
• Kalpataru gets SEBI’s approval for Rs. 1590 crore IPO
• Suraksha Diagnostic IPO fully subscribed on day 2

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