Construction sector stocks consolidate gains

DALAL STREET SPIKES

Construction stocks are witnessing a rally of late. Stocks like Nagarjuna Construction, Gammon India, HCC, Unitech and Patel Engineering have appreciated by between 8 and 20 per cent in the last one month.

Analysts tracking the sector said the strong economic growth and the government's commitment to spending on infrastructure has led to renewed buying in construction stocks.

Recently, a leading operator picked up equity in Nagarjuna Construction. The stock has surged 20 per cent in the last one month, from Rs 224.95 to Rs 269.95 on Wednesday.

Gammon India (up 15.29 per cent at Rs 531), Skanska Cementation (up 4.70 per cent to Rs 211.50), Unitech (up 15.46 per cent to Rs 168.05), HCC (up 12.67 per cent to Rs 220.05) and Patel Engineering (up 8.49 per cent to Rs 489) also posted big gains.