Infra stocks gain after Govt to establish infra fund

Shares of eight infrastructure stocks rose by 0.03% to 3.06% at 12:00 IST on BSE after Finance Minister Arun Jaitley in Union Budget 2015-16 announced government will establish national infra fund and allocated Rs 20000 crore for the same.

Meanwhile, the BSE Sensex was up 44.42 points or 0.15% at 29,264.54.

Among infrastructure companies, Adani Ports & Special Economic Zone (up 0.03%), Lanco Infratech (up 1.93%), Gammon India (up 0.43%), NCC (up 1.37%), GMR Infrastructure (up 0.51%), L&T (up 0.2%), IRB Infrastructure & Developers (up 1.39%), and Unity Infraprojects (up 3.06%), gained. Hindustan Construction Company (down 0.68%), declined.

Finance Minister Arun Jaitley in Union Budget 2015-16 today, 28 February 2015, announced plug & play projects for roads, ports & infrastructure. The government will establish national infra fund and allocated Rs 20000 crore for the same. The government will encourage ports in public sector to corporatize. The government proposed tax-free infra bonds for road, railways & infra projects. The road outlays to increase By Rs 14031 crore FY 2016. He said that work on building 1 lakh kilometers of roads is in process and will need to build another 1 lakh kilometers of roads.

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