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Nexus Select Trust REIT: Nexus Select Trust achieved net operating income of Rs 389.70 crore and raised Rs 2,250 crore during the quarter at an average interest cost of 8.2% (vs 8.5% in projections) achieved interest savings of ~50 bps / ~Rs 11 crore per annum.
The Indian Real Estate Sector recorded robust private equity investment of $1.92 bn in Q2 2023, highlighting investor confidence in the market after a marginally subdued Q1. This is 63% higher than the previous quarter (Q1-23) and 60% higher than the same period last year, according to Cushman & Wakefields latest Investment report.
Anand Rathi has initiated the coverage on TD Power Systems with a 'Buy' rating. It has set a target of Rs 312 on the stock based on 31.4 times FY25 earnings.
Finally, the much-awaited listing of Utkarsh Small Finance Bank equity shares will take place on July 24.
Prestige Estates Projects Limited has sold minority stake in 8 retail mall assets to Blackstone sponsored Nexus Select Trust.