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Infrastructure stocks rally on ordinance for land acquisition

Infrastructure major L&T was up over 1% while IRB Infra, Lanco Infratech, NCC and NBCC were among the top gainers

SI Reporter  |  Mumbai 

Infrastructure stocks have rallied after the Union Cabinet on Monday paved the way for easing the land acquisition Act for public-private-partnership (PPP) and rural infrastructure projects.

Several large public-private partnership (PPP) project stalled because of land acquisition issues. PPP projects account for 60 per cent of the Rs 18 lakh crore worth of stalled projects.

It approved an ordinance to make amendments to the Right to Fair Compensation and Transparency in Land Acquisi-tion, Rehabilitation and Resettlement Act, 2013, put in place by the United Progressive Alliance government.

The ordinance does away with the requirement of written consent from 70 per cent of landowners for PPP projects in the infrastructure and social infrastructure sectors. Also, social impact assessment won't be required for such projects.

Infrastructure major L&T was up over 1% while Lanco Infratech, NCC, NBCC and IRB Infrastructure were up 3-6% each.

First Published: Tue, December 30 2014. 09:29 IST