Road developers gain up to 9% on investment plans in Budget

Image
Press Trust of India Mumbai
Last Updated : Jul 10 2014 | 3:36 PM IST
Shares of road developers gained as much as 9 per cent after Finance Minister Arun Jaitley proposed a Rs 37,880 crore investment in National Highways Authority of India and state roads in the current fiscal year.
IRB Infrastructure Developers surged 8.72 per cent, while GMR Infrastructure rallied 4.96 per cent and Ashoka Buildcon was up 4.15 per cent on the BSE.
The Finance Minister announced an amount of Rs 37,880 crore for National Highways Authority of India and State Roads, out of which Rs 3,000 crore will be spent in the North East.
He announced that during the current financial year, a target of construction of 8,500 km of National Highways will be achieved.
The FM also announced initiation of work on select expressways in parallel to the development of industrial corridors.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 10 2014 | 3:36 PM IST

Next Story