Infrastructure and road construction stocks advanced at 12:11 IST on BSE after the finance minister Arun Jaitley in his Budget speech said that the government has fast tracked infrastructure projects worth Rs 9.46 lakh crore.
IL&FS Transportation Networks (up 4.65%), GVK Power & Infrastructure (up 3.65%), GMR Infrastructure (up 2.76%), HCC (up 2.41%), IVRCL (up 1.69%), IRB Infrastructure Developers (up 1.58%), NBCC (India) (up 3.12%) and NCC (up 1.67%) gained.
Meanwhile, the S&P BSE Sensex was up 105.53 points or 0.29% at 36,070.55.
Jaitley, in his Budget speech for FY 2019, stated that plans to set up smart city projects worth Rs 20852 crore are in progress. The government has planned 99 smart cities with outlay of Rs 2.04 lakh crore, FM said. It will look to complete 9,000 km of national highways in FY18, he added.
L&T advanced 2.35% at Rs 1,449.90 after consolidated net profit surged 48.4% to Rs 1617.88 crore on 10.1% growth in net sales to Rs 28747.45 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 31 January 2018.
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