L&T, ABB India, PNC Infratech: Capital goods stocks trade mixed a day after Budget 2026 presentation; capex increased to ₹12.2 lakh crore

Infrastructure and capital goods stocks traded mixed in the early session on Monday after the government announced a significant rise in capital expenditure in the Budget 2026-27.

After a significant rally amid the government’s infrastructure push in the Union Budget on Sunday, shares of many infrastructure companies extended their rally on Monday. Infrastructure stocks surged up to 16% in the special session on Sunday after the Budget announcement.

Shares of CG Power were trading at ₹602.31 apiece, up 0.9%, on the NSE at 9:40 a.m. Bharat Heavy Electricals Ltd (BHEL) also saw a modest increase as its stock rose 0.97% to ₹254.55. ABB India Ltd. shares were trading at ₹ 5,482, up 0.83% in early trade. After recording an intraday high of nearly 8% on Sunday, PNC Infratech shares fell 2.67% to ₹219.78.

At 9:54 a.m., Laren & Toubro shares were up 2.75% at ₹3,918.8 apiece on the NSE.

Sterling and Wilson Renewable Energy, which surged up to 5.15% on Sunday, fell 1.3% on Monday, trading at ₹183.12. Similarly, Siemens Ltd shares rose 1.85% to ₹3,037 on the NSE at 9:57 a.m. Shares of PVV Infra, which rose as much as 4.83% on Sunday, were trading at ₹5.67, up 2.35%, as of 09:46 am on Monday.

What FM said in Budget 2026 speech

Finance Minister Sitharaman outlined in her Budget speech that public capex has grown from around ₹2 lakh crore in FY15 to ₹12.2 lakh crore in FY27. The FM said that over the past decade, the government has boosted infrastructure through InVITs, REITs, NIIF, and NABFID.

“Our first kartavya is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics,” she said.

With the objective of further sustaining this growth model, the FM proposed an Infrastructure Risk Guarantee Fund to support private developers with partial credit guarantees. New dedicated freight corridors and 20 national waterways to boost environmentally sustainable cargo movement. She also proposed a Coastal Cargo Promotion Scheme that aims to double the inland waterways’ share by 2047.

Other major announcements included training centres and ship repair hubs in Varanasi and Patna. Seven high-speed rail corridors were also proposed to connect major cities.

A Seaplane VGF Scheme will improve remote connectivity and tourism. Additionally, Carbon Capture Utilisation and Storage will receive ₹20,000 crore over five years, and City Economic Regions in Tier II and III towns will get ₹5,000 crore each as part of the broader plan to develop modern infrastructure.