BSE launches Reits index; Waterways Leisure Tourism sinks on debut

BSE launches a REIT-focused index as mutual funds gear up for new schemes, while Waterways Leisure debuts at a discount and Advit Jewels lists with strong gains

BSE Index Services, a subsidiary of BSE, announced the launch of the BSE Reits and Commercial Real Estate Index on Wednesday. The launch comes as the mutual fund (MF) industry prepares to introduce the first Reits-focused schemes. This new index can be used for running passive strategies such as and index funds. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolio, the index provider said in a release. Embassy Office Parks Reit, Brookfield India Real Estate and Nexus Select Trust are top holdings of the index.

 

Waterways Leisure sinks on debut; Advit Jewels shines 

 

Cordelia Cruises operator Waterways Leisure Tourism shares made a weak market debut on Wednesday. The stock ended its debut session at ₹667, a 17.4 per cent discount to its issue price of ₹808 per share. Post listing, the company commands a market capitalisation of ₹4,831 crore. Meanwhile, Advit Jewels ended its maiden session at a premium of 29 per cent. The ₹165 crore issue was subscribed a whopping 212.63 times.