Tale of the Tape 

Hola Amigos!

Nifty and Sensex fell for a third straight session, down -0.6% each, over heavyweight selling. PS - the rupee ended at a record close of 84.95 against the US dollar. Midcaps (-0.6%) and Smallcaps (-0.9%) took a beating too. The advance-decline ratio was in favour of the bears (4:1). Check out the Stocktwits Sentiment Meter:

Except Pharma (+1.1%) and IT (+0.3%), all other sectors ended in the red. PSU Banks (-1.9%) and Metals (-1.4%) were the top losers.

Nifty Realty Index killed it yet again in 2024. Read our top story to find out what worked for real estate stocks and their 2025 outlook.

DAM Capital IPO kicks off tomorrow. Check out our analysis below to help you decide whether to subscribe. 

VA Tech Wabag, Kfin Technologies and Sanghi Industries saw big moves today. Look at their charts below to find out why.

Bumper market debuts. Vishal Mega Market ended +44% over its IPO price. Mobikwik closed at Rs 528 p/sh, nearly double its issue price of Rs 279 p/sh.

NMDC cracked -6% after reports said the Karnataka govt would raise duties on iron ore mining.

Shoppers Stop rallied +6% intraday after 37.6 lakh shares (3.4% equity) changed hands in a large deal; reports say the likely seller was Amazon NV Investment Holdings.

Restaurant Brands Asia will consider raising funds via the QIP route on December 20.

CDSL (-1%) was down after Zerodha and Upstox blamed the firm for technical issues in sell orders not going through.

Here are the closing prints:

Stock
Real Estate Stocks Are Killing It!

The Nifty Realty Index is on track to be the best-performing sector for a second straight year! That’s right, the index is up +41% YTD, crushing its competition. So what the hell did real estate companies do right in 2024 and what’s the outlook for 2025? Here’s what you need to know.

Let’s start with a quick rewind. All engines fired in 2024 on the back of crazy demand + higher disposable incomes. Over 300k homes worth Rs 5.1 lakh cr are projected to have been sold in 2024. Office leasing activity also hit record highs of 53 million sq ft between Jan-Sept! Some of this growth was because real estate companies FINALLY left their geographical comfort zones. Prestige expanded into Mumbai, Oberoi into Delhi and Brigade into Chennai. PS - keep an eye out for the first phase of DLF’s long-awaited Andheri project in March 2025.

FYI - the top stock winners in 2024 were Sobha (+63%), Oberoi Realty (+60%) and Prestige Estates (+59%). 

Tbh, the only hiccups in 2024 were the weird tax rules in the Budget over indexation benefits, but that was quickly resolved by the GOI! 

Moving forward, it doesn’t look like things will slow down in 2025 either. UBS is projecting residential pre-sales to grow at a 15% CAGR between FY24 and FY29. This growth will be led by ~200 million sq ft of new housing supply that will hit the market in 2025. PS - average home prices are expected to rise 6.5% in 2025 as well helped by demand for premium & luxury housing.

Finally, the macro situation is also expected to get better in 2025. GDP growth should rebound and we should -- pray to God -- see our first rate cut in February. If that kicks off an easing cycle, that will be a BIG boost for Indian real estate!

Sponsored
New Fund Offer Alert! 🚨 

As India gets healthier, you can get wealthier! 

Invest in the Bajaj Finserv Healthcare Fund. NFO is live. 

Tap in and take the first step towards healthcare growth!