Satellite having the same orbital period as the period of rotation of the Earth about its own axis is known as :

A geostationary satellite is a specific type of artificial satellite that orbits the Earth in the equatorial plane with an orbital period exactly equal to the Earth's rotation period (approximately 23 hours, 56 minutes, and 4 seconds) [3]. Because its orbital speed matches the Earth's rotation, the satellite appears to remain fixed or stationary over a specific spot on the equator [3]. These satellites are typically positioned at a high altitude of approximately 35,786 to 36,000 kilometers [3]. This unique characteristic makes them ideal for applications requiring continuous coverage of a specific area, such as telecommunications, direct-to-home television broadcasting, and meteorological monitoring [3]. While the INSAT series uses geostationary orbits, 'geostationary satellite' is the general term for the orbital characteristic described [2].

Sources

1. [1] https://dspmuranchi.ac.in/pdf/Blog/REMOTE%20SENSING%20SATELLITES%20AND%20ITS%20ORBITS.pdf
2. [2] https://www.grc.nasa.gov/www/k-12/TRC/laefs/laefs_g.html
3. [3] https://www.sciencedirect.com/topics/engineering/geostationary-satellite