Shares of pipe-manufacturing stocks were mixed after FM Nirmala Sitharaman allocated Rs 3.6 lakh crore under Jal Jeevan Scheme for piped water projects.
Meanwhile, S&P BSE Sensex was down 270.17 points or 0.66% at 40,453.32.
Finolex Industries (up 2.46%), Indian Hume Pipes Co. (up 1.02%) and Srikalahasthi Pipes (up 0.81%) rose. Prince Pipes and Fittings (down 3.91%) and Astral Poly Technik down (1.46%) fell.
Finance Minister Nirmala Sitharaman in her Budget 2020-21 speech today allocated Rs 3.6 lakh crore under Jal Jeevan Scheme for piped water projects. The scheme will aim at providing clean drinking water to all. Along with that, it will concentrate on augmenting local water resources and desalination programmes, the finance minister said.
Finance Minister laid out government's plans to resolve water-stressed issues across the country. The government will soon announce a comprehensive plan to resolve water-stressed problems in 100 districts of India. She reiterated the government's mission to ensure piped water connection to every household by 2024.
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