Overview

• The Reserve Bank of India cut the repo rate by 50 basis points to 5.5%, triggering a record high in the Nifty Bank index and lifting real estate and auto stocks.
• RailTel Corporation shares jumped about 4% after securing a Letter of Intent from the Maharashtra Motor Vehicle Department for a potential ₹274.4 crore project.
• Rama Steel Tubes surged 18% as it joined a 225 MW solar power joint venture under the PM-KUSUM scheme to enter the renewable energy sector.
• Tejas Networks rose on the receipt of ₹123 crore under the Production Linked Incentive scheme, and Bharat Electronics reached a 52-week high following ₹537 crore in new orders.
• Zen Technologies hit its 5% lower circuit on profit booking despite a 189% jump in Q4 net profit, while brokerages including Jefferies and CLSA raised price targets on Reliance Industries, SBI Life and Bajaj Auto.