The Interim Budget of 2024 focused on youth and women empowerment while maintaining fiscal consolidation and continuing capex. While lowering down FY25 fiscal deficit target to 5.1% of the GDP.
The budget encompassed the government’s four main focus points — ‘Garib’ (Poor), ‘Yuva’ (Youth), ‘Annadata’ (Farmer) and ‘Nari’ (Women).
In the budget, the government proposed to allocate ₹24,931 crore funds to various metro projects in the country, which represents a 7.57% increase in funds for the mass rapid transit system and metro projects compared to last year’s allocation of ₹23,175 crore. Based on fund allocation, the companies involved in this sector might receive orders in the near term.
Here are the few stocks that are involved in the Metro Project development
NCC Ltd
On Friday, NCC Ltd shares closed at ₹215 per share, up 3.39% from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹13,508 crores.
NCC Ltd shares have gained 40% in the last six months and multibagger returns of 132% in a year.
Nagarjuna Construction Company (NCC) Ltd is involved in infrastructure development operations such as building industrial and commercial buildings, highways, bridges, power transmission lines, and hydrothermal power projects.
In 2023, the Company received work for a metro line construction from Bangalore Metro Rail Corporation Limited for construction of metro line construction for up to 15 km. as well as it received contracts in November 2021 for 15 elevated stations & viaduct construction work.
ITD Cementation India Ltd
On Friday, ITD Cementation India Ltd shares closed at ₹316 per share, down 0.06% from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹5,423 crores.
In 2019, The company received a work order for the construction of the Bangalore Metro Phase 2 project which was awarded with a contract value of Rs. 1771.25 crore.
In 2022, The company received an order from the Chennai Metro Rail for construction of tunnels with TBM and associated underground stations of Chennai Metro Line 4, Phase – II in Chennai.
ITD Cementation is an engineering and construction company, undertaking heavy civil, infrastructure, and EPC businesses The company is involved in the construction of hydro-electric power, tunnels, dams & irrigation, highways, bridges & flyovers, industrial buildings and structures, foundation & specialist engineering.
ITD Cementation India Ltd shares have gained 75% in the last six months and multibagger returns of 207% in a year.
J Kumar Infraprojects Ltd
On Friday, J Kumar Infraprojects Ltd shares closed at ₹664 per share, up 3.86% from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹5,028 crores.
In 2023, The company received a letter of acceptance from Bangalore Metro Rail Corporation for the construction of an airport depot for Bangalore Metro Rail Project. For a value of ₹182.33 crore.
J Kumar Infraprojects Ltd shares have gained 78% in the last six months and 155% in a year.
J Kumar Infraprojects Limited is engaged in the business of execution of contracts of various infrastructure projects including Transportation Engineering, Irrigation Projects, Civil Construction and Piling Work, etc.
H.G. Infra Engineering Ltd
On Friday, H.G. Infra Engineering Ltd shares closed at ₹951 per share, up 1.45% from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹6,200 crores.
In January 2023, H.G. Infra Engineering Ltd received an order to construct 3.5 km of Delhi Metro Magenta Line’s 28.92 km Janakpuri West – RK Ashram extension. for a value of ₹413 crores.
H.G. Infra Engineering Ltd shares have gained 10% in the last month and 40% in a year.
H.G. Infra Engineering Limited (HGIEL) is an Indian Road Infrastructure Company engaged in the business of Engineering, Procurement, and Construction (EPC) Services, Maintenance of roads, bridges, flyovers, and other infrastructure contract works.
Larsen & Toubro Ltd
On Friday, Larsen & Toubro Ltd shares closed at ₹3,378 per share, down 0.59% from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹4,64,322 crores.
Larsen & Toubro Ltd shares have gained 30% in the last six months and 56% in a year.
In 2023, Larsen & Toubro Ltd bagged a major order worth ₹1,252 crores from Delhi Metro Rail Corporation (DMRC), with a joint venture with Shanghai Urban Construction Group.
Additionally, Company had received a letter of acceptance from Karnataka’s Rail Infrastructure Development Company (K-RIDE) for the design and construction of an elevated viaduct of length 8.960 km of Bengaluru Suburban Railway Project (BSRP).
Written by Omkar Chitnis
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