Shares of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) were in action after NSE decided to revise the eligibility criteria for their inclusion in Nifty Indices.
As per NSE's revised criteria, all equity shares, REITs and InvITs that are traded (listed & traded and not listed but permitted to trade) on NSE are eligible for inclusion in Nifty Indices. The changes will come into effect from 30 September 2021.
Among REITs, Brookfield India Real Estate Trust (up 0.99%), Embassy Office Parks REIT (up 0.09%) and Mindspace Business Parks REIT (up 0.22%) advanced.
Among InvITs, India Grid Trust (up 0.37%) and POWERGRID Infrastructure Investment Trust (up 0.88%) climbed. However, IRB InvIT Fund was down 0.64%.
REIT is an investment vehicle that owns/manages investment grade and income-producing real estate properties such as offices, malls, industrial parks, warehouses, hospitality, healthcare centers, and almost any asset that can produce an annuity revenue stream.
InvIT are investment trusts designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time. They are similar to REIT but invest in infrastructure projects such as roads or highways which take some time to generate steady cash flows.
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