Road developers surge after NHAI defers payments

Reuters Market Eye - Shares of road developers surge after National Highway Authority of India Chairman R.P. Singh said "premium repayments have been deferred for many projects," in an interview to news channel CNBC TV 18 on Monday.

Larsen & Toubro gains 5.7 percent, IRB Infrastructure Developers jumps 11.7 percent, Sadbhav Engineering rises 6.1 percent, while Reliance Infrastructure is up 4.6 percent.

"Bank dues are getting precedence over our dues," Singh added.

(Reporting by Abhishek Vishnoi)