Infra stocks gain on increased budgetary allocation

Infrastructure stocks rose by up to 5.5 per cent today after Finance Minister Arun Jaitley increased the budgetary allocation for the sector by Rs 1 lakh crore to Rs 5.97 lakh crore for the 2018-19 fiscal.
Shares of Dilip Buildcon surged 5.54 per cent, GVK Power & Infrastructure 4.87 per cent, GMR Infrastructure 4.60 per cent, NCC 1.55 per cent and Hindustan Construction Company 0.51 per cent on BSE.
Describing infrastructure as a growth driver of the economy, Finance Minister Arun Jaitley today increased the budgetary allocation for the sector by Rs 1 lakh crore to Rs 5.97 lakh crore for the 2018-19 fiscal and said the country needs Rs 50 lakh crore for infra spending.

The minister in his budget speech said India will need massive investments in roads, air, rail and inland waterways while hinting that the money would be raised through equity from the market.
"Infrastructure is the growth driver of the economy. Our country needs massive investment in access of Rs 50 lakh crore in infrastructure to increase growth of GDP and integrate the nation with a network of roads, airports, railways, inland water and to provide good quality services to the people," the finance minister said.