Sectoral sops prop up Nagarjuna Construction

DALAL STREET SPIKES

These projects include software buildings, residential flats and irrigation works. "The stock has been in the limelight of late. With further thrust on infrastructure in the Union Budget, construction companies are expected to be in the reckoning," said a head of research with a domestic broking firm.

The stock has witnessed a smart rally from a low of Rs 377.80 on January 12, 2005, to the Wednesday's close of Rs 519.50, rising nearly 37.4 per cent. The stock closed up 6 per cent with over 96,000 shares traded on the BSE on Wednesday.

In the Budget for 2005-2006, the allocation to highway projects has been stepped up by 43 per cent on a year-on-year basis.

Further, an outlay of Rs 5,500 crore would be incurred on renovation of seven mega cities.