With the road and transport ministry (MoRTH) seeing a 36 per cent increase in Budget allocation for financial year 2023-24 (FY24), related-stocks are eyeing robust growth outlook in the long term, believe analysts.
At the bourses, shares of HG Infra Engineering, KNR Constructions, and KEC International have surged up to 9.3 per cent since February 1, ACE Equity data shows. Moreover, over the past one year, shares of IRB Infrastructure, NCC, HG Infra, PNC Infratech, and KEC International advanced up to 50 per cent, as against a 6.4 per cent irbrise in the S&P BSE Sensex.
“We believe road-construction related stocks will benefit from higher Budget 2023 allocation, due to strong order book inflows. Some of the key factors that will benefit the sector are strong NHAI (National Highways Authority of India) pipeline of over Rs 1 trillion, declining commodity prices, and reduced competitive intensity with respect to HAM (hybrid annuity model) pr
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