4 Reasons Why Sensex Ended 568 Points Higher Today

The industry body maintained that an elongated time frame to avail the reduced stamp duty charges will ensure the sustenance of the sales momentum that has witnessed record-breaking property registrations in the past six months.

Note that on August 26, the Maharashtra government had announced to cut stamp duty on housing units from 5% to 2% until 31 December 2020.

From January 1 to 31 March 2021, the stamp duty charges were reduced to 3%.

On the occasion of Women's Day, the Maharashtra government announced a 1% cut on stamp duty charges if the transfer of house property or registration of sale deed is in the name of a woman.

Mumbai, the financial capital of India, witnessed a rise in property registration numbers in February, on the back of the above move.

In February 2021, properties worth Rs 117 billion were sold in Mumbai, up by 34% year-on-year (YoY), according to data shared by Propstack.

How this development pans out and what effect does it have on the real estate sector going forward remains to be seen.

Meanwhile, we will keep you updated on all the news from this space. Stay tuned.

Moving on to stock-specific news...

Kalyan Jewellers was among the top buzzing stocks today as the company made a weak stock market debut today.

The stock of Kalyan Jewellers got listed at Rs 73.90 on BSE, a 15% discount to its issue price of Rs 87.

On NSE, the scrip debuted at Rs 73.95, down 15%.

The Rs 11.7 billion issue, which was sold between March 16 and 18, was subscribed 2.61 times.

Kalyan Jewellers is among the largest jewelry companies in India. The jeweler is engaged in designing, manufacturing, and selling a variety of gold, studded as well as other products. It has 107 showrooms in all across 21 states. Besides, the company operates 30 showrooms in West Asia.

The company commands a 1.8% market share in the jewelry market, while its share in the organized jewelry segment stands at 5.9%.

Stay tuned for more updates from this space.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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