Budget impact on Stoock Market: Today, shares of highway construction companies jumped up to 8 percent when Finance Minister Nirmala Sitharaman highlighted the PM Gati Shakti masterplan for the fourth time in her Budget speech. In 2022-23, the plan calls for the National Highway network to be expanded by 25,000 kilometres.
The Gati Shakti plan is a Rs 100 lakh crore project that aims to construct 'holistic infrastructure' that includes inclusive development, productivity increase, energy transmission, climate action, and investment financing.
The masterplan will be completed in 2022-23, according to the Finance Minister.
PNC Infratech's stock rose 7.75 percent on the BSE after the announcement, reaching an intraday high of Rs 317.65. The stock of PNC Infratech is trading above the 5 day, 20 day, 50 day, and 200 day moving averages, but below the 100 day moving averages.
Another infrastructure player, Ashoka Buildcon, hit an intraday high of Rs 102.25 on the BSE, up 3.81 percent. The stock had previously opened at Rs 100.50, up 2.03 percent. The stock is trading above the 5-day, 50-day, and 200-day moving averages, but below the 20-day and 100-day moving averages.
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