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Last Updated : Feb 01, 2018 02:23 PM IST | Source: Moneycontrol.com

Budget 2018: Zicom, GMR, L&T gain 1-11% on govt announcement on rail, air facility

Government allocated Rs 17,000 crore for Bengaluru Metro network and Rs 11,000 crore for 90 km of double-line tracks for Mumbai rail.

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Shares of L&T, Siemens, BHEL, GMR Infra, Bharat Road Network, Zicom Electronic Security and NBCC rose 1-11 percent as government aim to upgrade the railway & airport infrastructure.

Finance Minister Arun Jaitley in his Budget 2018 speech has allocated Rs 1.48 lakh crore towards the railway capex for FY19.

Also, government allocated Rs 17,000 crore for Bengaluru Metro network and Rs 11,000 crore for 90 km of double-line tracks for Mumbai rail, he added.

The governemnt will put elevators on all stations with more than 25,000 footfall. Also, pushing for river connectivity, seaplanes and railway network to boost the tourism in the country.

The government is going to raise airport capacity by 5 times to handle 1 billion passengers and the UDAN scheme shall connect 56 unserved airports and 37 unserved helipads, he said in Budget Speech.

At 14:12 hrs Zicom Electronic Security Systems was quoting at Rs 27.10, up 11.07 percent, NBCC gained 2.10 percent quoting at Rs 230.60, GMR

Infrastructure was quoting at Rs 23.25, up 6.90 percent.

Larsen & Toubro rose 2.10 percent quoting at Rs 1,446.30, BHEL was quoting at Rs 100.65, up 0.40 percent and Siemens was quoting at Rs 1,320.85, up

1.80 percent.

Posted by Rakesh Patil
First Published on Feb 1, 2018 02:22 pm
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