Construction stocks edge lower

Ten construction stocks fell 0.32% to 8.52% at 15:19 IST on BSE after Minister of State for Road Transport & Highways Pon. Radhakrishnan said that bids have been relaunched under EPC and PPP modes for various highway construction projects.

Gammon Infrastructure Projects (down 8.52%), Patel Engineering (down 7.55%), Hindustan Construction Company (down 7.26%), GVK Power & Infrastructure (down 5.84%), Gammon India (down 5.41%), Unity Infraprojects (down 5.7%), NCC (down 0.32%), L&T (down 1.91%), IRB Infrastructure Developers (down 1.06%), and Tarmat (down 0.74%) edged lower. Valecha Engineering (up 15.57%), Ashoka Buidcon (up 0.07%), and Sadbhav Engineering (up 3%) edged higher.

Meanwhile, the S&P BSE Sensex was down 161.30 points or 0.57% at 28,338.24.

The Minister of State for Road Transport and Highways, Pon. Radhakrishnan informed the Rajya Sabha today, 25 November 2014, that bids have been relaunched under engineering, procurement, and construction (EPC) and public-private partnership (PPP) modes for various highway construction projects. For speedy implementation of various national highway projects, bids have been invited through EPC as well as PPP modes of delivery. A 100% foreign direct investment (FDI) is permissible in road sector and bids are invited globally, the Minister said. Construction time of all national highway projects varies from 30-42 months from the date of commencement of construction, he added.

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