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