Infra stocks decline on profit booking

Six infrastructure stocks fell 0.3% to 4.89% at 15:18 IST on BSE, with the stocks sliding on profit taking after Finance Minister Arun Jaitley proposed an increase in investment in infrastructure by Rs 70000 crore in the year 2015-16 over last year.

Among infrastructure companies, Adani Ports & Special Economic Zone (down 4.89%), Lanco Infratech (down 0.3% ), Gammon India (down 2.35%), GMR Infrastructure (down 4.34%), Unity Infraprojects (down 1.09%), and Hindustan Construction Company (down 2.86%) edged lower. NCC (up 3.27%), L&T (up 0.8%), and IRB Infrastructure Developers (up 0.23%) edged higher.

Meanwhile, the S&P BSE Sensex was up 148.08 points or 0.51% at 29,368.20.

The Union Finance Minister Arun Jaitley in first full-fledged Union Budget 2015-16, proposed an increase in investment in infrastructure by Rs 70000 crore in the year 2015-16 over the year 2014-15 from the Centre's funds and resources of CPSEs. Arun Jaitley stated that the present state of infrastructure does not match the growth ambitions. Hence he has increased outlay on both the roads and the gross budgetary support to the Railways by Rs 14031 crore and Rs 10050 crore. The CAPEX of the public sector units is expected to be Rs 317889 crore, an increase of approximately Rs 80844 crores over RE 2014-15.

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