Construction, infra stocks gain as FM Sitharaman announces new projects in Budget 2024

Finance Minister has allocated Rs. 26,000 crore for highways in Bihar, aiming to enhance connectivity and support regional growth.

KNR Constructions, PNR Infratech and other construction and infrastructure-related stocks inched higher after finance minister Nirmala Sitharaman in her Budget speech announced new projects infra projects for Bihar.

KNR Constructions was quoting at Rs 373.20, up Rs 9.90, or 2.73 percent, on the BSE.

The Budget has announced significant infrastructure developments for Bihar, including new airports, medical facilities, and sports infrastructure. Additionally, the Finance Minister has allocated Rs. 26,000 crore for highways in Bihar, aiming to enhance connectivity and support regional growth.

J Kumar Infraprojects, and Ahluwalia Contracts stocks were also trading higher with gains of up to 5 percent due to the continued thrust on infrastructure.

Andhra Pradesh State-Linked Stocks Gain on India Budget Proposal to facilitate 15,000 crore for Andhra with additional amounts in future years.

Highway and infrastructure developer NCC Ltd and Likhitha Infra added more than 4.5 percent each, Power Mech Projects gained over 3.2 percent and Deccan Cements was up over 5 percent.

J Kumar Infraprojects was quoting at Rs 831.05, up Rs 10.90, or 1.33 percent and Ahluwalia Contracts India was quoting at Rs 1,446.05, up Rs 70.05, or 5.09 percent, on the BSE.

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