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“IRB and Adani are best placed to gain from this new shift in format from HAM and EPC to asset ownership. We believe that IRB should do very well from this. Additionally, because of the private InvITs, they are able to leverage their balance sheet and within the InvITs also, there is a lot of repricing going on because the thoroughfare and the traffic numbers and the servicing of the debt is very strong.”

As buying was seen at lower levels, analysts said the index has to hold above 17,250 zone for an up move towards 17,442 and 17,500 zones whereas supports are placed at 17,171 and 17,071 zones

The Nifty Realty index was trading 0.24 per cent down at 419.05.

“We have positive coverage from a long-term point of view on ACC as well as some other names. Our sense is that possibly from third quarter or fourth quarter onwards, input costs should be a thing of the past and operational efficiencies will possibly bring in positivity. The freedom to hike prices per bag of cement will also help cement companies to achieve better numbers going forward from here on. ”

Gold price in the national capital fell Rs 40 to Rs 50,833 per 10 grams on Monday amid a fall in the precious metal prices in the overseas market, according to HDFC Securities. In the previous trade, the yellow metal had touched Rs 50,873 per 10 grams.Silver also declined by Rs 594 to Rs 56,255 per kilogram from Rs 56,849 per kg.

For the quarter ended September, the company posted a consolidated profit of Rs 62.48 crore as against Rs 49.96 crore during the same period last year.Consolidated revenue from operations also increased to Rs 776 crore as against Rs 571 crore during the same period last year.

“The smallcap and midcap space is largely invested in by domestic investors and they are under no duress or pressure to sell. That is why smallcaps and midcaps have been outperforming and this outperformance will continue for some time till the dollar index stabilises and the US is done with the rate hikes,” says Rakesh Arora.

The overarching trend is still negative for the rupee, but in that we might see some relief because equities are trading positively and crude prices and the dollar index are down, she said, adding the rupee might appreciate a tad in the coming days.

The Nifty Realty index closed 0.43 per cent down at 418.25.

According to the latest shareholding pattern filed with the bourses, Jhunjhunwala sold 87,50,000 equity shares of Canara Bank. His holding slipped to 2,68,47,400 equity shares or 1.48 per cent from 3,55,97,400 equity shares or 1.96 per cent as of June 30, 2022.