Shares of five companies engaged in road construction declined 1.06% to 5.24% at 11:51 IST on BSE after the finance minister said the government is allocating Rs 37850 crore for road building plan.
Meanwhile, the S&P BSE Sensex was down 235.91 points or 0.93% at 25,208.90
L&T (down 1.58%), IL&FS Transportation Networks (down 5.24%), IRB Infrastructure Developers (down 1.67%), Ashoka Buildcon (down 1.25%) and GMR Infrastructure (down 1.06%) edged lower.
While presenting the final Union Budget for 2014-15 in Lok Sabha today, 10 July 2014, Finance Minister Arun Jaitley said that the government will allocate Rs 37850 crore for road building plan via National Highways Authority of India (NHAI). Arun Jaitley said that the government will initiate work on selective highways along with corridors. The government will give Rs 14389 crore for rural roads development, Arun Jaitley said in his Budget speech.
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