return to news
  1. Infra stocks, including L&T and IRB Infra, rally ahead of NDA government formation

Market News

Infra stocks, including L&T and IRB Infra, rally ahead of NDA government formation

Upstox

2 min read | Updated on June 06, 2024, 13:07 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

The surge in infra stocks comes as the Bharatiya Janata Party (BJP)-led NDA is set to form a government. The BJP has secured 240 seats, while Telugu Desam Party (TDP) and Janata Dal (United) have won 16 seats and 12 seats, respectively.

Stock list

LT
--
IRB
--
HGINFRA
--
ai-generated-8490532_1280.png

J Kumar Infra Projects jumped 5.7 per cent to ₹761.6, while Ashoka Buildcon rose 2.7 per cent to ₹185.

Infrastructure stocks rallied on Thursday as the National Democratic Alliance (NDA) government is set to return on June 8.

Larsen & Toubro gained 2.4% to ₹3,492 on the National Stock Exchange (NSE). The stock had hit a 52-week-high of ₹3,919 on June 3.
IRB Infrastructure Developers shares were up 3.5% to 69.7%. The scrip opened at ₹69 and hit an intraday high of ₹71.4 on June 6.

Shares of HG Infra Engineering rose 5.8% to trade at ₹1509.5 on the NSE. The company's market capitalisation stood at ₹9,837 crore.

J Kumar Infra Projects jumped 5.7% to ₹761.6, while Ashoka Buildcon rose 2.7% to ₹185.

Shares of Rail India Technical and Economic Service (+6.2%), Pnc Infratech (+7.3%), Dilip Buildcon (+7.1%) and Ircon International (+6.4%) and Suprajit Engineering (+3.1%) also gained.

Benchmark indices also traded higher on Thursday, with NIFTY50 rising 0.49% and SENSEX gaining 380 points. Of the NIFTY50 space, 33 stocks advanced. Shriram Finance, SBI, and NTPC were among the top gainers.

The surge in infra stocks comes as the Bharatiya Janata Party (BJP)-led NDA is set to form a government. The BJP has secured 240 seats, while Chandrababu Naidu's Telugu Desam Party (TDP) and Nitish's Kumar's Janata Dal (United) have won 16 seats and 12 seats, respectively.

The government formation and swearing-in ceremony of Narendra Modi is likely to take place on Saturday.

Upstox

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story