Big Infra push: Centre reiterates Rs 11.11 lakh crore commitment; cement stocks gain up to 6%

Infra stocks traded on a mixed note as the Centre remains committed to the infra development and employment generation mission. In the Budget announcement made today, the FM said capex outlay for infra development and employment generation will be increased by 11.1 per cent to Rs 11,11,111 crore - 3.4 per cent of the GDP.

Nifty Infra at the last count traded with a cut of 0.72 per cent, dragged by losses in the RIL, ONGC and L&T among others. Nonetheless, cement players got a push as the centre focuses on infra development in Eastern India states including Bihar, Jharkhand, Odisha and Andhra Pradesh under the scheme ‘Purvodaya’.

Under the larger plan ‘ Purvodaya, the centre aims to cover the all-round development of eastern States including Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.

The scheme is expected to benefit cement players like UltraTech Cement, Ambuja Cement, Orient Cement, Ramco Cement, Nuvoco Cement.

Meanwhile, realty stocks traded mixed as the government announces that 3 crore houses will be constructions as part of Pradhan Mantri Awas Yojana (PMAY).