Infra stocks in demand, surge up to 10 pc

Shares of infrastructure companies surged up to 10 per cent today on announcement of a massive Rs 6.92 lakh crore road building programme.
HCC soared 10.01 per cent, Ashoka Buildcon zoomed 8.71 per cent and Sadbhav Infrastructure Projects surged 8.43 per cent on BSE.
Shares of J Kumar Infraprojects jumped 6.76 per cent and Dilip Buildcon rose by 4.39 per cent.
The government yesterday approved a mega plan to build 83,677 km of highways over the next five years at a cost of about Rs 7 lakh crore which includes the ambitious Bharatmala project, the biggest ever after NHDP.
The Rs 6.92 lakh crore highway projects, approved by the Union Cabinet, will generate 14.2 crore man-days of jobs and also include Bharatmala project, an umbrella programme for roads under which 34,800 km of highways will be constructed at a cost of Rs 5.35 lakh crore, the government said.