Archive · 3 Sep 2026
Indian Stocks Rise Modestly as Realty, IPO Shares Gain
Indian shares were slightly higher around the middle of the trading day on September 3.
Real-estate companies were among the biggest gainers.
Anant Raj, Prestige Estates Projects and other property stocks rose.
Lumino Industries also had a strong first day on the stock market after its IPO.
RBL Bank gained after bringing in large foreign-currency deposits.
Godrej Consumer Products fell because investors were worried about its near-term business performance.
Hexaware fell after its chief executive announced he would leave in 2026.
Swiggy declined after MSCI said it would remove the company from some major indexes, which may cause some investment funds to sell its shares.
The Nifty 50 hovered near 23,930 and the BSE Sensex near 76,685 by midday on September 3.
Realty stocks led gains, with the Nifty Realty index up 2.52% and Anant Raj rising 7.25%.
Godrej Consumer Products fell 5% after management highlighted weaker core-category performance and plans to reduce India inventory.
RBL Bank gained 4.20% after mobilising $3.4 billion through FCNR-B deposits under a special swap facility.
Lumino Industries debuted 34.15% above its IPO price, while Hexaware Technologies and Swiggy declined after company-specific developments.
- Who
- Indian listed companies including Godrej Consumer Products, Prestige Estates Projects, RBL Bank, Lumino Industries, Hexaware Technologies and Swiggy.
- What
- Several stocks posted significant midday gains or losses while the broader domestic equity market traded modestly higher.
- When
- By midday on September 3; Hexaware's leadership change is scheduled for October 28, 2026.
- Where
- The Indian equity market, including the National Stock Exchange and BSE.
- Why
- Movements followed company updates, analyst commentary, a stock-market debut, new orders, deposit mobilisation and an MSCI index change.
Positive Signals
Investor Concerns
Realty and infrastructure prospects
Positive Signals
Buying in realty shares was supported by Prestige Estates Projects' addition of a 17.14-acre Gurgaon land parcel and Jefferies' view that Welspun Corp could benefit from increased oil and gas infrastructure spending.
Investor Concerns
The articles do not identify a specific negative development for the realty sector, but gains were limited to the reported market session and do not establish longer-term performance.
Company growth and leadership
Positive Signals
Inox Wind received a Rs 755 crore order, RBL Bank reported substantial deposit mobilisation, and Hexaware has outlined a plan to double revenue to $3 billion by 2029.
Investor Concerns
Godrej Consumer Products acknowledged weaker core-category performance and lower India and Indonesia profitability, while Hexaware shares fell after its CEO resigned.
Index and ownership effects
Positive Signals
Swiggy received shareholder approval to cap aggregate foreign ownership at 49.5%, allowing it to qualify as an Indian-owned and controlled company.
Investor Concerns
MSCI's planned deletion of Swiggy from its Global Standard indices could prompt passive ETFs and global institutional portfolios to adjust their holdings.
- Nifty 50
- Hovered around 23,930 by midday on September 3.
- BSE Sensex
- Hovered near 76,685 by midday.
- Nifty Realty index
- Gained 2.52% by midday after rising as much as 3.05%.
- RBL Bank deposits
- Mobilised $3.4 billion, or approximately Rs 32,472 crore, through FCNR-B deposits.
- Lumino Industries IPO
- The Rs 700 crore issue was subscribed 118.12 times and listed at a 34.15% premium.
- Welspun Corp
- Rose nearly 5% after Jefferies initiated coverage with a Buy rating and a Rs 3,250 target.
- Inox Wind order
- Announced a Rs 755 crore repeat order from Indian Oil Corporation for a 100 MW turnkey wind project.
- Swiggy index change
- MSCI scheduled Swiggy's deletion from its Global Standard indices for September 7.