New Delhi: While presenting the Union Budget 2024, Finance Minister Nirmala Sitharaman said that the government of India will allocate Rs 11,11,111 crore capital expenditure for the infrastructure sector in the financial year 2024-25. Infrastructure allocation will now constitute 3.4 per cent of India’s GDP. Government’s continued support for infrastructural sector is expected to hugely benefit infrastructure stocks like NCC Ltd, KNR Constructions, PNC Infratech, IRB Infrastructure, Ahluwalia Contracts, J Kumar Infraprojects, Larsen & Toubro, etc.
CNI Research, CMD, Kishore Ostwal, said, the Budget 2024 has lot of benefits for the infrastructure sector. Going forward, infra stocks are expected to do well. Retail investors can put their money on prominent stocks in this sector. These stocks have done well in the past and should do well in future also.
On Tuesday, NCC share price rallied six per cent. The scrip closed at Rs 337 apiece on the Bombay Stock Exchange (BSE). The infra stock is up 144 per cent in the last one year. Another prominent infra stock, KNR Constructions share price closed at Rs 363 apiece on the BSE on Tuesday. In last one year, the stock is up 51 per cent. While, PNC Infratech share price ended at Rs 510 apiece on the bourse. The stock has rallied 46 per cent in last 365 days. IRB Infra on the other hand closed at Rs 66.40 per share up nearly 160 per cent in last one year.
Budget 2024 documents underline the significant investments made by the Central Government over the years to build and improve the country’s infrastructural sector. According to Budget 2024 documents, GoI will endeavour to maintain strong fiscal support for infrastructure sector over the next 5 years. Sitharaman said in Lok Sabha on Tuesday that the infrastructure sector has a strong multiplier effect on the economy. The finance minister added that the infrastructure sector is amongst the nine priority sectors on which Budget 2024 has envisaged sustained efforts in pursuit of ‘Viksit Bharat’.
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Budget 2024: On Tuesday, infra stock NCC share price rallied six per cent after the GoI hiked infra capex to Rs 11,11,111 lakh crore. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
