Shares of eleven infrastructure developers rose by 0.57% to 3.47% at 10:15 IST on BSE after Finance Minister said that the government has taken and will further take series of measures to tackle various challenges being faced by the sector.
Finance Minister Arun Jaitley made the statement after market hours yesterday, 17 November 2014,
Meanwhile, the S&P BSE Sensex was up 64.16 points or 0.23% at 28,242.04.
Among infra stocks, Jaiprakash Associates (up 0.59%), Hindustan Construction Company (up 0.57%), NCC (up 2.98%), L&T (up 0.64%), IVRCL (up 1.36%), Gammon India (up 1.6%), IRB Infrastructure & Developers (up 2.7%), GVK Power Infrastructure (up 2.1%), Unity Infraprojects (up 1.07%), Lanco Infratech (up 3.47%), and GMR Infrastructure (up 0.74%) gained.
Finance Minister Arun Jaitley yesterday, 17 November 2014, said that he is in discussion with the members of opposition parties to make necessary procedural changes in Land Acquisition Act in order to avoid delay in the implementation of the infrastructure projects. Jaitley said that the government has taken series of measures to tackle various challenges being faced by the infrastructure sector in the country. The Finance Minister said that many more such measures are in offing in near future. Meanwhile, a Memorandum of Understanding (MoU) was signed yesterday, 17 November 2014, between Department of Economic Affairs (DEA), Ministry of Finance, Government of India and Department of Commerce, United States of America (USA) on establishing Infrastructure Collaboration Platform. The (MoU) establishes a United States-India Infrastructure Collaboration Platform, under which the governments of the two nations intend to coordinate and cooperate with the goal of facilitating US industry participation in Indian infrastructure projects to improve the bilateral commercial relationship and benefit both the Participants' economies, India's Ministry of Finance said in a statement.
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