Infra stocks jump on hopes of announcement of sops for the sector

Twelve infrastructure stocks rose by 1.9% to 9.27% at 14:55 IST on BSE on hopes sops for infra sector will be announced in the Union Budget 2015-16 tomorrow, 28 February 2015.

Meanwhile, the S&P BSE Sensex was up 381.94 points or 1.33% at 29,128.59.

Among infra stocks, Jaiprakash Associates (up 6.06%), Hindustan Construction Company (up 6.96%), NCC (up 1.9%), L&T (up 4.26%), IVRCL (up 4.27%), Gammon India (up 4.29%), IRB Infrastructure & Developers (up 2.32%), GVK Power Infrastructure (up 4.44%), Unity Infraprojects (up 5.53%), Adani Ports & Special Economic Zone (up 2.93%), Lanco Infratech (up 9.27%), and GMR Infrastructure (up 6.94%) gained.

Finance Minister Arun Jaitley will present Union Budget 2015-16 tomorrow, 28 February 2015. Industry recommends speedy infrastructural development and enhancing infrastructure spending to take India to higher growth path. Industry seeks introduction of single window clearance system. A speedy completion of stalled projects is essential as due to complexities of government channels, many projects get halted and delivery is delayed.

Industry expects smart cities scheme, or next version of National Urban Renewal Mission. The Sagamala initiative, with focus on port connectivity and its funding, is likely to be highlighted in the Budget. Concessions for infrastructure financing is also expected by the industry.

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